Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Protection
• Social and Human Capital
• Leadership and Governance

Environmental Achievements

• Achieved 42% better EEDI than current requirement on newest vessels
• First adopter of GTT Mk3 Flex plus containment system reducing boil-off gas
• Installed reliquefaction plants on three existing and all new vessels to manage boil-off gases
• Reached over 6.9 million man-hours without a lost-time injury in 2020

Social Achievements

• 96% shore-based retention rate
• 97% sea staff retention rate (officers)
• 98% sea staff retention rate (crew)
• Donation of €500,000 to the Lyreion Orphanage

Governance Achievements

• Majority independent Board
• Compliance with ISO 9001, 14001, 45001, and 50001
• Established Safety and Sustainability Committee

Climate Goals & Targets

Environmental Challenges

• Meeting IMO 2050 targets for CO2 reduction
• Developing new fuels and infrastructure
• Managing methane leakage
• COVID-19 pandemic impact

Mitigation Strategies

• Active participation in industry groups
• Implementation of new technologies (e.g., reliquefaction, GTT Flex+)
• Transparent emission reporting to IMO and EU
• Scenario planning
• Flexible working practices during COVID-19

Supply Chain Management

Responsible Procurement

• Shipyard selection based on approach to sustainability

Climate-Related Risks & Opportunities

Transition Risks

• Regulatory and technical change

Opportunities

• Technological advancements in reducing emissions

Reporting Standards

Frameworks Used: SASB, GRI

Certifications: ISO 14001, ISO 9001, ISO 45001, ISO 50001

Awards & Recognition

• Safety at Sea’s 2019 Crew of the Year Award

Environmental Metrics

ESG Focus Areas

• Decarbonization
• Wellbeing
• Diversity, Equity & Inclusion (DE&I)

Environmental Achievements

• Reduced CO2 emissions from fuel oil use due to IMO 2020 compliance and increased use of Boil Off Gas (LNG) onboard vessels.
• Reduced SOx emissions due to IMO 2020 compliance and use of Low Sulphur fuel oil.
• Improved average fleet EEOI (Energy Efficiency Operational Indicator) from 23.49 to 18.90 grams CO2/cargo*nm.
• Reduced volume of plastic sent ashore per vessel from 15.2 to 5.5 m3/vessel.
• Offset 10,198 MT of CO2-e via Shell’s portfolio of nature-based solutions.

Social Achievements

• Reached more than 7.9 million man-hours without a lost-time injury in 2020.
• Maintained high sea staff and shore staff retention rates (above 97%).
• Increased communication and engagement with shore staff through town halls and pulse surveys due to COVID-19.
• Supported seafarers during COVID-19 through increased internet allowances, COVID-19 test kits, and proactive measures to facilitate crew changes.
• Participated in the “#seafarersdelivering-christmas” campaign.

Governance Achievements

• Improved compliance with the SASB standard.
• Instituted an active and diverse ESG steering group.
• Board met 15 times in 2020.
• 100% of shore staff completed Code of Business Conduct & Ethics training.
• Established a confidential whistleblower hotline.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting crew changes and seafarer wellbeing.
• Decarbonization challenges in the maritime industry, including lack of commercially available zero-emission fuels.
• Need to improve diversity, equity, and inclusion (DE&I) within the workforce.

Mitigation Strategies

• Proactive measures with charterers and lobbying efforts to increase crew rotations.
• Increased internet allowances and provided COVID-19 test kits for seafarers.
• Investment in the latest generation of LNG carriers, yielding up to a 50% reduction in carbon intensity.
• Active engagement in industry partnerships and pilot projects to accelerate decarbonization.
• Initiatives to improve DE&I, including recruitment practices, cadet programs, and diversity training.

Supply Chain Management

Responsible Procurement

• Sustainability criteria included in supplier sourcing/investment decisions.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SASB Marine Transportation Standard

Certifications: ISO 9001, 14001, 45001, 50001

UN Sustainable Development Goals

• SDG 3 (Good Health & Wellbeing)
• SDG 5 (Gender Equality)
• SDG 8 (Decent Work and Economic Growth)
• SDG 9 (Industry, Innovation and Infrastructure)
• SDG 10 (Reduced Inequalities)
• SDG 12 (Responsible Consumption and Production)
• SDG 13 (Climate Action)
• SDG 14 (Life Below Water)
• SDG 15 (Life on Land)

These goals are most relevant to the maritime industry and represent topics we can take action to influence.

Awards & Recognition

• GREEN4SEA award (2020)
• IHS Markit “Safety at Sea” award (2019)

Environmental Metrics

ESG Focus Areas

• Decarbonization
• Safety and wellbeing
• Diversity, Equity, & Inclusion (DE&I)

Environmental Achievements

• Reduced fleet’s annual average carbon intensity by approximately 17 percent compared with 2019. Within a decade, our fleet renewal program resulted in up to a 50 percent improvement in the carbon intensity of our latest vessels in comparison with the steam driven ships.
• Improved 2021 AER by approximately 3.5 percent compared to 2020.
• No spills or releases of toxic substances or waste since the inception of ship management operations (over 11 years).

Social Achievements

• Reached approximately 4.9 million man-hours without a lost time injury for owned and bareboat fleet.
• Revamped Behavioral Based Safety and Mental Resilience program and invested in training senior officers to manage stress and identify signs of mental stress in others.
• Expanded mental health support line for staff with 24/7 access to confidential specialist support in their native language.

Governance Achievements

• Board oversees management and assures shareholder interests are served.
• Three standing committees: Audit and Risk, Compensation, and Safety and Sustainability.
• Zero tolerance for bribery and corruption; all employees undergo annual anti-bribery training.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting seafarers and global trade.
• Increased fuel oil consumption (10% more than natural gas) resulting in higher CO2 emissions.
• Increased sailing time and average speed leading to higher CO2 emissions.

Mitigation Strategies

• Strengthened testing and PPE protocols and arranged voluntary vaccinations for seafarers.
• Increased internet allowances and enhanced communications channels for seafarers.
• Extended working from home and hybrid arrangements for office-based staff.

Supply Chain Management

Responsible Procurement

• Due diligence review process for high-risk suppliers regarding anti-bribery and corruption or modern slavery.

Climate-Related Risks & Opportunities

Physical Risks

• Increased severity of extreme weather events
• Extreme variability in weather conditions
• Rising sea levels
• Rising mean temperatures/variability in wind speeds and shifting wind patterns

Transition Risks

• Changing international environmental laws and regulations
• Market-based carbon measures and other carbon policies
• Technology advancements and regulations
• Prevailing low carbon and renewable energy sources
• Stigmatization of the LNG sector

Opportunities

• Resource efficiency (reduced operating costs)
• Energy source (higher demand for LNG)
• Products and services (innovation)
• Markets (access to new markets)
• Resilience (improved shipping efficiency)

Reporting Standards

Frameworks Used: SASB Marine Transportation standard

Certifications: ISO 9001, 14001, 45001, 50001

UN Sustainable Development Goals

• SDG 3 (Good Health and Wellbeing)
• SDG 5 (Gender Equality)
• SDG 8 (Decent Work and Economic Growth)
• SDG 9 (Industry, Innovation and Infrastructure)
• SDG 10 (Reduced Inequalities)
• SDG 12 (Responsible Consumption and Production)
• SDG 13 (Climate Action)
• SDG 14 (Life below Water)
• SDG 15 (Life on Land)

Alignment through ISO standards compliance.

Awards & Recognition

• Top position among more than 55 shipping companies on charter to key customers (2021)
• Award for voluntary participation of ships in AMVER program (2021)

Environmental Metrics

ESG Focus Areas

• Decarbonization
• Safety and Wellbeing
• Diversity, Equity & Inclusion (DE&I)

Environmental Achievements

• Total CO2 emissions decreased in 2022 compared to 2021, mainly due to partial operation of two vessels as FSUs. However, average AER increased due to higher idle periods and lower average sailing speed.

Social Achievements

• Reached approximately 10.3 million workhours without an LTI (Lost Time Injury) for our owned and bareboat fleet as of 31 December 2022.
• Shore-based retention rate of 95%, Sea staff retention rate (senior officers) of 96%, Sea staff retention rate (junior officers/crew) of 96%/95%.

Governance Achievements

• The GasLog Board, through its Safety and Sustainability Committee, assumes ultimate responsibility and oversight of ESG.
• Zero tolerance for bribery and corruption, discrimination, harassment, and bullying. All employees are required to attest to our Anti-Bribery and Corruption policy and to our Code of Business Conduct and Ethics.

Climate Goals & Targets

Environmental Challenges

• Worldwide port congestion and lower usage of LNG as fuel instructed by charterers negatively impacted the fleet’s operating profile and AER.
• Higher use of fuel oil versus LNG to achieve maximum cargo outturn negatively impacted the 2022 AER.

Mitigation Strategies

• Working with charterers to implement appropriate speed reductions and optimize voyage planning.
• Investing in a dedicated decarbonization team and providing further development and training for personnel.
• Assessing existing technical efficiency improvement options for the fleet and developing ship-specific decarbonization plans.

Supply Chain Management

Responsible Procurement

• Due diligence review process for high-risk suppliers in terms of anti-bribery and corruption or modern slavery.

Climate-Related Risks & Opportunities

Physical Risks

• Increased severity of extreme weather events
• Extreme variability in weather conditions
• Rising sea levels
• Rising mean temperatures/variability in wind speeds and shifting wind patterns

Transition Risks

• Changing international, national, state, and local environmental laws, regulations, treaties, conventions, and standards
• Increased pricing of GHG emissions
• Market-based carbon measures and other carbon policies
• Technology advancements and regulations resulting in ships becoming technologically obsolete
• Prevailing low carbon and renewable energy sources
• Stigmatization of the LNG sector

Opportunities

• Technological solutions on energy consumption
• Higher demand on LNG to replace other more polluting fossil fuels
• Accelerate innovation that improves efficiency and reduces air emissions
• Access to new markets for LNG
• Sustainability being part of our strategy and operations

Reporting Standards

Frameworks Used: SASB Marine Transportation Standard, UN SDGs, TCFD (partially aligned)

Certifications: ISO 9001, 14001, 45001, 50001

UN Sustainable Development Goals

• SDG 3, 5, 8, 9, 10, 12, 13, 14, 15
• SDG 1, 2, 4, 6, 7, 11, 16 (through ISO standards compliance)

Awards & Recognition

• 2022 World LNG Shipping award
• AMVER award

Environmental Metrics

ESG Focus Areas

• Decarbonization
• Safety and Wellbeing
• Diversity, Equity & Inclusion (DE&I)

Environmental Achievements

• Reduced total CO2 emissions by approximately 14% compared to 2022, decreasing fleet average AER (7.65 gr CO2/t-nm versus 8.87 gr CO2/t-nm). This is attributed to lower idle periods, increased use of LNG as fuel (86% versus 77%), sale of older vessels, and FSU utilization of two ships.
• 14% decrease in Carbon intensity (AER) compared to 2022
• Applied ultra-low friction antifouling coatings to eight vessels to minimize water resistance and improve emissions profile.

Social Achievements

• Achieved more than 4 million work-hours without a Lost Time Injury (LTI) for the owned and bareboat fleet.
• Revamped the ‘Take the Lead’ safety program, simplifying its structure and enhancing initiatives.
• Implemented 90% of approved Safety and ESG suggestions.
• GasLog Winchester served as a pilot ship for the ‘All-Aboard Alliance’ (AAA) for a more inclusive life at sea.

Governance Achievements

• Executed a comprehensive refinancing of 23 LNG carriers with a sustainability-linked feature aligning environmental and social performance with improved interest margin.
• Established a 24/7 office hotline and arranged external counseling and employee wellbeing services for Ukrainian colleagues affected by the war.

Climate Goals & Targets

Environmental Challenges

• Extreme weather events impacting operational efficiency (e.g., Panama Canal drought).
• Transition risks and opportunities related to the green and just transition.
• Navigating the disparate and rapidly evolving policy landscape (IMO, EU ETS, FuelEU Maritime).

Mitigation Strategies

• Active voyage management and cooperation with charterers to optimize voyage planning and introduce specific charter party clauses (CII, EEXI clauses).
• Installation of energy-saving devices (rudder bulbs, saver fins, hull-air lubrication systems, reliquefaction plants), and application of anti-fouling coatings.
• Analysis of methane slip abatement technologies and biofuels, developing a plan for reduction starting in 2024.
• Exploring partnerships for building a common understanding with charterers on sustainability and decarbonization strategies.

Supply Chain Management

Responsible Procurement

• Due diligence review process for high-risk suppliers (anti-bribery and corruption, modern slavery).

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events, supply chain disruptions

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products and services, transportation of green liquid hydrogen (LH2).

Reporting Standards

Frameworks Used: SASB Marine Transportation standard, UN SDGs

Certifications: ISO 9001, 14001, 45001, 50001

UN Sustainable Development Goals

• SDG 3, 5, 8, 9, 10, 12, 13, 14, 15

Selected SDGs most relevant to the maritime industry and those GasLog can influence; further contribution to SDG 1, 2, 4, 6, 7, 11, and 16 through ISO standards compliance.

Sustainable Products & Innovation

• Exploring transportation of green liquid hydrogen (LH2).

Awards & Recognition

• '20 years achievement' award at the 2023 Greek Shipping Awards