Climate Change Data

Environmental Metrics

ESG Focus Areas

• Safety
• Environmental Sustainability
• Employee Well-being
• Digital Transformation

Environmental Achievements

• Achieved 5 Star Environmental Audit Awards from the British Safety Council (2019, 2020, 2021)
• Supporting the “Plant Million Tree” initiative in corporation with the Ministry of Municipality.

Social Achievements

• Reduced All-Injury Frequency Rate (AIFR) by 30%
• Signatory to the Neptune Declaration, significantly reduced crew overstay on board vessels
• COVID-19 Management Campaign, COVID-19 Precautions and Procedures Guidelines, Blood Donation Day, “Ramadan Kits” Campaign, Breast Cancer Awareness Campaign, Sports Day virtual event, “First Aid” virtual seminar, “Safe Travel During Covid-19” campaign, First Aid campaign in corporation with Qatari Red Crescent.

Governance Achievements

• Completed one of the largest Enterprise Resource Planning platform deployments in the region with Oracle.
• Strengthened Corporate Governance practices in line with local and global standards, with external audit firm assistance.
• Established a separate section for Risk Management.
• Continued to pursue a succession plan for Milaha employees.

Climate Goals & Targets

Environmental Challenges

• Continued business challenges affecting the global shipping industry
• COVID-19 pandemic and significant imbalances in global supply chains
• Labor availability issues and delayed onboarding of new customers in the local logistics business
• Lower utilization of some key assets in the Offshore segment
• Drop in tanker freight rates in the Gas & Petrochem segment
• Lower margins in the Bunker Sales unit of the Trading segment

Mitigation Strategies

• Focus on long-term strategy: service excellence, increased efficiency, stable and sustainable supply chains
• Strict workplace safety measures, safeguarding seafarers’ well-being
• Streamlined container shipping and freight logistics operations through lean transformation
• Optimized vessel fleets to reduce underperforming assets
• Renegotiated key supply contracts for a more competitive cost base
• Accelerated digital transformation journey
• Added strategically important revenue lines
• Expanded global logistics network through partnerships
• Investment in Floating Storage and Operations (FSO) vessels
• Expanded offering across multiple marine segments
• Agreement with the Qatar Navy to maintain facilities at the new naval base

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QFMA Governance Code

Certifications: ISO 9001, 14001, and 45001

Third-party Assurance: PricewaterhouseCoopers Qatar Branch

Awards & Recognition

• British Safety Council Sword of Honour (2018, 2019, 2020)
• British Safety Council Globe of Honour (2019, 2020)
• British Safety Council 5 Star Safety Audit (2018, 2019, 2020, 2021)
• British Safety Council 5 Star Environmental Audit (2019, 2020, 2021)
• British Safety Council International Safety Award (2019)
• British Safety Council CoVID Assurance Audit (2020)
• Qatar Petroleum 7 Star Contractor Safety Award (2020 - 1st and 2nd place)
• Qatar Steel – HSE 2020 Contractor of the Year Award
• 1st place in Qatar Steel’s HSSE awards (2021)

Environmental Metrics

ESG Focus Areas

• Environment & Sustainability
• Health, Safety, Security, Environment, & Quality (HSSEQ)
• Employee Welfare
• Equal Employment Opportunities

Environmental Achievements

• Launched “Go Green” initiative, reducing vessels' operational speed to 8 knots, thereby reducing CO2 emissions.
• Won 8 international awards from the British Safety Council (BSC), including 4 in safety and 4 in environmental fields.
• Achieved 4 Sword of Honour & 4 Globe of Honour from the British Safety Council.
• Granted the “Platinum Safety Award” by QatarEnergy for harbor operations for the 4th consecutive year.

Social Achievements

• Launched Milaha Wellbeing Initiative.
• Launched Blood Donation Campaign.
• Celebrated International Women’s Day.
• Launched Breast Cancer Awareness Month Campaign.
• Ministry of Labour honored Mr. Talal Al-Malki with “Employee of the Year 2022” for his efforts towards Qatarization.
• Highfield International awarded Milaha the “International Excellence Certification”, recognizing it as an international excellence training destination.

Governance Achievements

• National Cyber Security Agency awarded Milaha the National Information Security Assurance Compliance certificate (NIA).
• Awarded “ISO 27001” certificate for the third consecutive year.
• Board continuously takes measures for enhancing optimal management and disclosure systems.

Climate Goals & Targets

Environmental Challenges

• Ongoing business challenges affecting the shipping industry globally.
• One-off provisions and impairments impacting Milaha Capital’s net profit.
• Increased provisions for bad debt in Milaha Capital’s Investment unit.
• An QR (86) million impairment on one of Milaha Capital’s properties.

Mitigation Strategies

• Focusing on long-term strategy to achieve excellence, increase efficiency, and maintain stable and sustainable supply chains.
• Cost reduction initiatives in Container Shipping business.
• Milaha Logistics City warehouse capacity expansion and bonded service offerings.
• Increasing yield enhancement of holdings in Milaha Capital’s Investment unit.
• Optimizing and rationalizing operations in Trading segment, targeting higher margin product sales.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QFMA Corporate Governance Code

Certifications: ISO 27001

Third-party Assurance: PricewaterhouseCoopers Qatar Branch

Awards & Recognition

• 2021 Hino Parts Department of the Year for Middle East & Africa Region
• Non-Vessel Operating Common Carrier (NVOCC) of the year at the India Maritime Awards

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Undertook several energy efficiency projects such as hull cleaning and coating with anti-fouling paint on our fleet to reduce fuel consumption, installed real-time greenhouse gas (GHG) emissions tracking of container ships, and changed our waste management practices minimizing our impact on the environment.

Social Achievements

• Continued to invest in enhancing our safety standards and were recognized by the British Safety Council for adopting a successful strategy and achieving the highest required standards in health, safety and environmental risks and being granted eight prestigious awards in 2023.
• Various awards won in 2023 including the “CSR/Sustainability Initiatives of the Year Award” and “Forbes ME Sustainability Leaders’ Summit Award,”

Governance Achievements

• Strengthening its Corporate Governance practices in line with local and global standards.
• Established a separate section for Risk Management with the aim of monitoring and analyzing the risks and developing the internal control environment for ensuring the realization of all objectives of the Company.

Climate Goals & Targets

Environmental Challenges

• The Maritime & Logistics segment experienced a sharp decline in rates that adversely affected the financial performance due to a drastic freight rate decrease after COVID-driven supply chain disruptions recovered and decreased volumes as the post World Cup ramp-up ended in Qatar.

Mitigation Strategies

• Implemented cost containment measures and a disciplined approach to optimize our asset base ensuring financial prudence in navigating the year.

Supply Chain Management

Climate-Related Risks & Opportunities

UN Sustainable Development Goals

• UN Sustainable Development Goals (UNSDGs)

Milaha has started the journey of sustainable transformation after restructuring and reorganizing businesses and stressing firm commitment to proactively addressing the environmental operations’ impact and promoting sustainability term deeply into Milaha’s business.

Awards & Recognition

• Excellence in Maritime Services
• Sales Achievement 2023 Award
• CSR/Sustainability Initiatives of the Year Award
• Forbes ME Sustainability Leaders’ Summit Award
• Worker’s Welfare Award
• four “Sword of Honor” awards
• four prestigious “Global Honour” awards
• higher contractor performance evaluation (CPE) award
• CEO Award of HSEQ