Climate Change Data

Taylor Maritime Investments Limited

Climate Impact & Sustainability Data (2021-03-31 to 2022-03-31, 2022-04 to 2023-03, 2023-04 to 2024-03)

Reporting Period: 2021-03-31 to 2022-03-31

Environmental Metrics

Total Carbon Emissions:269,300 tCO2e (Scope 1 & 3)
Scope 1 Emissions:4,115 tCO2e
Scope 2 Emissions:4 tCO2e
Scope 3 Emissions:265,181 tCO2e
Carbon Intensity:EEOI of 11.96 grams of CO2/tonne of cargo. nautical mile; AER of 7.23 grams of CO2/dwt. nautical mile

ESG Focus Areas

  • Responsible investment
  • Climate change and Environmental Management
  • Onshore and at Sea Safety
  • Compliance and conduct
  • Community and employee engagement
  • Strong corporate governance

Environmental Achievements

  • Full fleet rollout of water mineralizers and reusable water bottles, reducing single-use plastic onboard by 15,000 bottles annually.
  • 69% of the fleet fitted with Ballast Water Management Systems by the end of 2022 (100% by 2023).
  • Exclusive use of very low sulfur fuel.

Social Achievements

  • Signatory to the “Neptune Declaration on Seafarer Wellbeing and Crew Change”.
  • Supporting seafarer cadet training programs onboard vessels.
  • Allocated a budget of US$200,000 per annum for charitable purposes.

Governance Achievements

  • Premium listing on the LSE.
  • Establishment of an independent ESG and Engagement Committee.
  • 75% female independent directors and 50% female executive team.
  • Active members of the Maritime Anti-Corruption Network.

Climate Goals & Targets

Long-term Goals:
  • Operate a net-zero carbon fleet by 2050.
Medium-term Goals:
  • Reduce fleet GHG emissions in line with or exceeding the current IMO targets of 40% carbon intensity reduction by 2030; Commence adoption of zero-carbon or alternate fuels.
Short-term Goals:
  • Fleet energy efficiency gains; Full compliance with environmental regulations; Interim lower emissions fuels e.g. biofuels.

Environmental Challenges

  • Vessel decarbonisation regulations coming into play from 2023.
  • Market-based Greenhouse Gas (GHG) measures.
  • Enhanced ESG reporting obligations.
  • Shifts in agricultural production.
  • Changing customer requirements and demand for more ‘locally’ produced goods.
  • Decreased demand for fossil fuel products.
  • Increased severity and frequency of extreme weather events.
  • Long-term risk of increased sea level rising.
Mitigation Strategies
  • Divestment of less efficient vessels – gradual fleet renewal with younger, more efficient ships.
  • Ongoing preparation for environmental regulations compliance.
  • Extensive fleet retrofitting program in place to adopt energy-efficient technologies.
  • Supporting the development of zero-carbon fuels and vessels through industry collaboration/bodies.
  • Voluntarily offsetting shore-side emissions.
  • Engagement with broader stakeholders and customers on decarbonisation efforts.
  • Engagement of competent technical managers with robust planned maintenance programs.
  • Adoption of latest technology routing and weather systems.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Increased severity and frequency of extreme weather events
  • Long-term risk of increased sea level rising
Transition Risks
  • Vessel decarbonisation regulations
  • Market-based GHG measures
  • Shifts in agricultural production
  • Changing customer requirements
  • Decreased demand for fossil fuel products
Opportunities
  • Reduced exposure to GHG emissions
  • Increased capital availability
  • Reputational benefits

Reporting Standards

Frameworks Used: TCFD, SASB, GRI

Reporting Period: 2022-04 to 2023-03

Environmental Metrics

Total Carbon Emissions:551,852 tCO2e/year
Scope 1 Emissions:11,216 tCO2e/year
Scope 2 Emissions:4 tCO2e/year
Scope 3 Emissions:540,632 tCO2e/year
Renewable Energy Share:0%

ESG Focus Areas

  • Responsible Investment
  • Climate Change & Environmental Management
  • Health, Safety & Development
  • Community Engagement
  • Compliance & Conduct
  • Strong Corporate Governance

Environmental Achievements

  • 18% improvement in EEOI (Energy Efficiency Operational Indicator)
  • 1.4% decrease in AER (Annual Efficiency Ratio)
  • 85% of the TMI fleet now fitted with at least three energy-saving devices
  • Independent verification of GHG footprint by EcoAct
  • Trial of B30 biofuel onboard a vessel, resulting in a 26% CO2 saving compared to VLSFO
  • Reduced plastic consumption onboard saving 15,000 plastic bottles monthly

Social Achievements

  • 33% improvement in LTIR (Lost Time Injury Rate) year-on-year
  • Introduction of a mental health policy for seafarers
  • 8 cadets onboard group vessels
  • Continued support for local community causes with an annual welfare budget
  • Commitment to fund scholarships annually for Indian cadets

Governance Achievements

  • AML (Anti-Money Laundering) training for Board and TMI employees completed
  • Enhanced counter-party due-diligence process
  • Improved cyber-security practices

Climate Goals & Targets

Long-term Goals:
  • Net-zero GHG emissions by 2050 and adoption of near-zero emissions fuels
Medium-term Goals:
  • Reduce fleet GHG emissions in line with or exceeding IMO targets of 40% carbon intensity reduction by 2030
  • Commence adoption of zero-carbon or alternate fuels
Short-term Goals:
  • Fleet energy efficiency gains
  • Full compliance with environmental regulations
  • Interim lower emissions fuels e.g. biofuels

Environmental Challenges

  • Impact of the war in Ukraine on crew wellbeing and rotation
  • Long-lasting COVID policy in China impacting the global seafaring community
  • Increased scope 1, 2 and 3 emissions due to increased investment in Grindrod Shipping, increased headcount, and increased off-hire fuel consumption
Mitigation Strategies
  • Monitoring the safety and well-being of Russian and Ukrainian crew members
  • Working with Technical Managers to support crew wellbeing and mental health
  • Implementing energy efficiency measures across the fleet
  • Adopting efficient operational measures
  • Increasing the use of biofuels
  • Trialing new decarbonisation technologies
  • Offsetting shore-based emissions

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Increased severity and frequency of extreme weather events
Transition Risks
  • Vessel decarbonisation regulations
  • Market-based GHG measures
  • Enhanced ESG reporting obligations
Opportunities
  • Reduced exposure to GHG emissions
  • Increased capital availability
  • Reputational benefits

Reporting Standards

Frameworks Used: TCFD, GRI, SASB

Third-party Assurance: EcoAct

Reporting Period: 2023-04 to 2024-03

Environmental Metrics

Total Carbon Emissions:439,475 tCO2e/year
Scope 1 Emissions:11,040 tCO2e/year
Scope 2 Emissions:6 tCO2e/year
Scope 3 Emissions:428,428 tCO2e/year

ESG Focus Areas

  • Responsible Investment
  • Climate Change & Environmental Management
  • Health, Safety & Development
  • Community Engagement
  • Compliance & Conduct
  • Corporate Governance

Environmental Achievements

  • Year-on-year reduction of 4% in TMI fleet carbon intensity (AER) and 7% in Combined fleet carbon intensity (AER)
  • 85% of the TMI fleet fitted with at least three energy-saving devices
  • Independent verification of GHG footprint for both TMI and Grindrod Shipping
  • Divestment of older, less efficient vessels
  • Reduced plastic consumption onboard by installing water fountains and reusable water bottles

Social Achievements

  • 21% improvement in TMI fleet LTIR (Lost Time Injury Rate)
  • Quarterly crew seminars held focusing on safety training and crew wellbeing
  • 26 cadets onboard group vessels
  • Continued support for local community causes
  • Introduction of crew welfare software addressing mental health and wellbeing

Governance Achievements

  • Management remuneration tied to ESG targets
  • Continuous engagement with Grindrod Shipping on ESG collaboration
  • Environmental regulation compliance (CII, EEXI, EU ETS)
  • AML (Anti-Money Laundering) training completed for Board and employees
  • Transition of ESG Committee to a management-led ESG Steering Group

Climate Goals & Targets

Long-term Goals:
  • Net zero GHG emissions by 2050
Medium-term Goals:
  • Reduce fleet CO2 emissions intensity by at least 40% (vs 2008 baseline)
  • Increase uptake of interim lower emissions fuels
Short-term Goals:
  • Reduce total annual GHG emissions by at least 20% (vs 2008 baseline)

Environmental Challenges

  • Geopolitical tension and attacks on cargo vessels in the Red Sea
  • Stringent environmental regulations (CII, EEXI, EU ETS, FuelEU)
  • Need to adopt new technologies and fuels for decarbonization
  • Maintaining crew wellbeing amidst geopolitical challenges
Mitigation Strategies
  • Vessel rerouting to avoid high-risk areas
  • Investment in fleet energy efficiency initiatives and retrofitting
  • Preparation for upcoming FuelEU regulation
  • Exploration of cleaner fuels (biofuels)
  • Focus on crew wellbeing through training and support

Supply Chain Management

Responsible Procurement
  • Third-party Supplier Code of Conduct
  • ESG questionnaire integrated into contracts

Climate-Related Risks & Opportunities

Physical Risks
  • Increased severity and frequency of extreme weather events
Transition Risks
  • Vessel decarbonisation regulations
  • Market-based GHG measures
  • Enhanced ESG reporting obligations
Opportunities
  • Reduced exposure to GHG emissions
  • Increased capital availability
  • Reputational benefits

Reporting Standards

Frameworks Used: TCFD, GRI, SASB

Certifications: ISO 14064-3:2019

Third-party Assurance: EcoAct