Svitzer A/S

Climate Impact & Sustainability Data (2023)

Reduced CO2 intensity of the global fleet by 24% compared to 2020.
Ran up to 70 tugboats on Hydrotreated Vegetable Oil (HVO) instead of Marine Gas Oil (MGO), saving approximately 23,000 tonnes of CO2 in 2022 alone.
'Aim for 8' initiative decreased carbon intensity by more than 6% compared to the 2020 baseline.

Improved employee Net Promoter Score (eNPS) by 10 points to 40, positioning Svitzer in the top quartile for +1,000 companies globally.
Employee attrition rate remained below the current external benchmark of 10.9% for the Transport & Logistics industry (10.0%).
Increased efforts in recruitment leading to progress in reaching the 40% target for underrepresented gender in leadership positions by 2025.

95% completion rate for Code of Conduct refresher training for all employees.
19 whistleblower reports raised, leading to actions including three dismissals, two warnings, and two policy reviews and targeted trainings.
84% completion rate for data ethics training.

Long-term Goals:

Medium-term Goals:

Short-term Goals:

40% representation of the underrepresented gender at the executive and senior leadership team levels by 2025.

Macroeconomic development with inflationary increases on costs across regions.
Increased competitive pressure, especially in single-operator ports.
Changes in commodity prices negatively impacting growth and existing business.
Risk of commoditization of towage.
Attracting and retaining talent, particularly in senior or operational frontline roles and seafaring positions.
Cybersecurity events impacting operations and customer operations.
Geopolitical tensions and armed conflicts impacting operations.
Maturing of new technologies for decarbonization.

Timely tariff adjustments in Harbour Towage and escalations in Terminal Towage contracts.
Cost leadership, high service reliability, deep customer relationships, and high contract coverage.
Diversification of business development efforts.
Operational flexibility through crewing models and fleet.
'Thriving People' strategy including engagement surveys, performance management, and capability building.
Improved cyber security posture and employee awareness initiatives.
Careful consideration and mitigation of risks in new market entries (e.g., closing operations in Russia).
Lowest cost of abatement approach for decarbonization, supported by business cases and cautious introduction of new technologies.

Development of energy-efficient products and services (e.g., TRAnsverse Tugboat, EcoTow).

Frameworks Used: Danish Financial Statements Act