Climate Change Data

Minerva Gas Inc.

Climate Impact & Sustainability Data (2022)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:212,151.0 mt CO2 (Scope 1)
Scope 1 Emissions:212,151.0 mt CO2
Scope 2 Emissions:18.9 mt CO2
Scope 3 Emissions:Not disclosed
Renewable Energy Share:54%
Total Energy Consumption:Not disclosed
Water Consumption:315 mt (office buildings)
Waste Generated:379.2 cubic meters (garbage)
Carbon Intensity:86.8 g CO2e/MJ (average GHG Intensity of the fleet for 2022)

ESG Focus Areas

  • Environmental Stewardship
  • Health and Safety
  • Employee Well-being
  • Community Engagement
  • Governance
  • Decarbonization

Environmental Achievements

  • Zero spills
  • Zero untreated sewage discharges to the sea
  • Zero untreated ballast discharges to the sea
  • Entire fleet rated “A” or “B” in the IMO Rating Scheme
  • Average GHG Intensity of the fleet for 2022 was well below the threshold value of 91.16 grCO2eq/MJ set by EU.

Social Achievements

  • Flawless HSE record in 2022
  • Implemented a new policy for the prevention and elimination of violence and harassment
  • 93% of shore-based personnel received at least 1 specific in-house training
  • 93% of seafarers received at least 1 specific in-house training
  • 93% of employees received a regular performance and career development review
  • Annual Shore Assignment Plan providing seafarers with office work opportunities

Governance Achievements

  • Established six committees to evaluate policies, monitor performance, and identify improvement opportunities
  • Successfully completed in-house management of entire LNG Carrier fleet in 2022
  • Ranked first in Shell’s time charter operators ranking during 2022 Q4 and 2023 Q2
  • Cyber Security awareness campaign with a 4.6/5 attendee score
  • Implementation of Disaster Recovery site ensuring business continuity

Climate Goals & Targets

Long-term Goals:
  • Participating/investing in zero-emission shipping pilot and demonstration projects
  • Disclosing verified GHG emission intensity and total GHG emissions from operated vessels
Medium-term Goals:
  • Developing and improving digital tools to measure GHG emissions and optimize operations
  • Adding a vessel with HyEl propulsion design to the fleet before the end of the decade
Short-term Goals:
  • Operating vessels with EEDI at least 50% lower than required
  • Operating vessels with EEXI at least 34% lower than required
  • Meeting IMO’s Carbon Intensity Indicator ranking A or B until 2026

Environmental Challenges

  • Rapid technological advancement in the shipping industry
  • Requirements and targets for decarbonization
  • Economic and social changes due to geopolitical crisis
  • Decarbonization of LNG shipping transportation
Mitigation Strategies
  • Investing in technologically advanced ships
  • Industry pilot projects and partnerships
  • Newbuilding contracts for LNG Carriers with ME-GA propulsion, Air Lubrication System and Mark III Flex Containment Systems
  • Focus on new type of gas carriers for transporting liquid CO2 and green ammonia
  • Establishment of Minerva Technology Forum with working groups on various decarbonization technologies
  • Annual Meeting engaging internal and external stakeholders on decarbonization progress

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Working with suppliers to minimize plastic in packaging materials

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards: Core option, SASB Marine Transportation reporting standard

Certifications: ISO 14001, ISO 50001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Minerva Gas fully embraces the UN Sustainable Development Goals

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed