Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate change risk management
• GHG emissions
• VOC / Other emissions to air
• Air quality
• Biodiversity
• Energy use
• Water use
• Waste
• Business ethics
• Technology and innovation
• Community impact
• Recruitment and retention
• Diversity and inclusion
• Modern slavery and child labour
• Health and safety
• Compliance
• Financial sustainability
• Cyber security

Environmental Achievements

• Reduced GHG emissions Scope 1 by 5.5%
• Reduced GHG emissions Scope 1 and 2 at terminals by 0.1%
• Reduced GHG emissions Scope 1 at Stolt Tank Containers by 11%
• Reduced Stolt Tankers' GHG emission intensity (AER) by 3.3%
• Reduced Sulphur Oxide emissions by 3.6%
• Reduced Nitrogen Oxide emissions by 7.2%
• Reduced energy consumption at terminals by 3.3%
• Reduced waste to landfill from Stolt Tankers' shipping operations by 11.4%
• Reduced water consumption at wholly-owned depots by 12.3%
• Achieved ISO 14001 certifications across Stolt Sea Farm operations (excluding Iceland)
• 99 ships awarded the CSA Certificate of Environmental Achievement
• 72% of ships calling at US ports eligible for US Coast Guard’s Qualship 21 certification
• Stolt Tankers reduced fuel consumption by 5% leading to a 5.5% reduction in greenhouse gas emissions
• Trial of marine biofuel resulted in an 80% to 90% reduction in well-to-exhaust carbon emissions

Social Achievements

• Completed a global wellbeing survey with an 81% response rate
• Launched a new module on resilience and an e-learning module to help employees manage adversity
• Increased communication about hygiene protocols and local government guidelines
• Made a ‘rest-and-break’ software application available to improve ergonomics
• Held more townhalls and virtual meetings to increase engagement
• Provided online remote team management training for leadership
• Enhanced mental health support and resilience training
• Improved safety performance across logistics businesses (TRCF and LTIF rates)
• Zero serious incidents for the second consecutive year
• Implemented a new global onboarding process for new starters including a buddy system
• Stolt Tankers aims to have shortlists that are 50% female for all onshore roles
• Stolt Tankers introduced a new style of boilersuit suitable for female colleagues
• Stolt Sea Farm renewed partnership with Camariñas municipality, sponsoring ‘Mostra do Encaixe’
• Stolt Sea Farm supported the ‘Cofradia de Pescadores de Lira’ food festival

Governance Achievements

• Updated Code of Business Conduct to include additional guidance on data protection, financial crime, and modern slavery
• 100% of shore-based staff reconfirmed compliance with the Code of Business Conduct
• 100% of those required completed the anti-bribery and corruption training module
• Implemented a new responsible procurement agreement for Stolt Tankers suppliers
• Stolt Tankers selects ship recycling yards operating in accordance with the IMO Hong Kong Convention
• Stolt Tankers implemented monthly random validation of worker status, permits, salary, and insurance during ship recycling

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic impacting face-to-face training and crew changes
• Increased voluntary employee turnover due to 'Covid churn'
• Increased water consumption due to increased tank cleaning
• Data limitations for GHG Scope 2 and 3 emissions
• Challenges around celebrating achievements together during the pandemic

Mitigation Strategies

• Maintained training schedules through virtual training and ongoing communication
• Enhanced HR operating model to streamline processes and develop an HR data analytics framework
• Implemented a new working-from-home policy
• Increased communication about hygiene protocols and local government guidelines
• Introduced initiatives to improve non-financial recognition (Bonusly, Kudos Kart)
• Working towards publishing Scope 2 and 3 GHG emissions data
• Implemented several initiatives to improve water efficiency (eTCM, Cleaning Alongside, rainwater collection)

Supply Chain Management

Supplier Audits: Ongoing audit programme for existing suppliers based on risk profile; 100% of new vendors signed responsible supplier agreement

Responsible Procurement

• Responsible supplier agreement assessing suppliers against environmental and human rights criteria

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events, flooding

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products and services

Reporting Standards

Frameworks Used: GRI, SASB, TCFD

Certifications: ISO 14001, ISO 9001, ISO 22000

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 12
• SDG 13
• SDG 14

Stolt-Nielsen focuses on SDGs 12 (Responsible Consumption and Production), 13 (Climate Action), and 14 (Life Below Water)

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Action
• Life Below Water
• Responsible Consumption and Production
• Health and Safety
• Human Rights
• Diversity and Inclusion
• Responsible Procurement
• Emissions Reduction
• Water Conservation
• Employee Wellbeing

Environmental Achievements

• 6% decrease in Scope 1 emissions at Stolt Tankers despite fleet expansion
• Improved Annual Efficiency Ratio (AER) at Stolt Tankers (10.91 in 2022 vs 11.06 in 2021)
• 4.5% decrease in Scope 1 emissions at Stolt Tank Containers due to greener fuel sources
• 39.5% reduction in Scope 2 emissions at Stolt Tank Containers due to electricity and fuel-related reductions
• 11,899m3 of tank wash water in Houston voluntarily directed to onsite wastewater treatment plant (Stolt Tankers)
• Installation of 193 kW of solar panels at Stolt Sea Farm's Quilmas, Spain farm

Social Achievements

• Launched Stop Work Authority programme empowering employees to halt unsafe work
• Introduced 360 Movies for enhanced health and safety training at Stolt Tankers
• Improved safety performance across all businesses, with reduced TRCF and LTIF in some areas
• Introduced hybrid working policies at offices globally
• Ran a mental health awareness campaign and expanded online learning platform with mental health modules
• Improved EcoVadis rating for Stolt Tankers (achieved gold, 95th percentile)

Governance Achievements

• 100% of eligible employees received a performance review
• 100% of required employees completed anti-bribery and corruption training module
• Stolt Tankers received EcoVadis gold rating with a 10-point year-on-year improvement in labour and human rights scores

Climate Goals & Targets

Environmental Challenges

• Commercial pressure cited as contributing factor to delays and near misses (Stolt Tankers)
• Covid-19 lockdowns creating operational challenges for Stolthaven Terminals
• Increased TRCF at Stolthaven Terminals due to an incident at a neighboring site
• Increase in Stolt Sea Farm's occupational safety incidents (5.3% in 2022 vs 2.9% in 2021)

Mitigation Strategies

• Stolt Tankers collaborated to create an educational film on managing commercial pressure
• Stolthaven Terminals maintained additional hygiene practices to protect employees and visitors
• Stolthaven Terminals implemented improved safety management processes and increased training
• Stolt Sea Farm completed additional safety audits and increased training to reverse the trend of increased incidents

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Sustainability requirements included in ocean freight tenders (Stolthaven Terminals)
• Working with suppliers to find sustainable alternatives to single-use plastics (Stolt Tankers)
• Selecting ship recycling yards that comply with the IMO 2009 Hong Kong Convention (Stolt Tankers)

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (flooding, hurricanes)

Transition Risks

• Regulatory changes (e.g., IMO 2020, EEXI, CII)
• Market shifts towards decarbonization

Opportunities

• Development of energy-efficient technologies (e.g., FuelOpt, hull cleaning, propeller coatings)
• Use of marine biofuels
• Cold ironing pilot project in Rotterdam

Reporting Standards

Frameworks Used: UN Sustainable Development Goals (SDGs), SASB (Stolt Tankers), GHG Protocol (Stolthaven Terminals), GLEC framework (Stolt Tank Containers)

Certifications: ISO 14001 (Stolt Tankers), ISO 9001 (Stolt Tank Containers), ISO 22000 (Stolt Tank Containers), Authorised Economic Operator (AEO) (Stolt Tank Containers), Safety and Quality Assessment for Sustainability (SQAS) (Stolt Tank Containers), Chemical Distribution Institute Marine Packed Cargo Assessment Scheme (CDI-MPCAS) (Stolt Tank Containers), Global GAP (Stolt Sea Farm), ISO 9001 (Stolt Sea Farm), ISO 14001 (Stolt Sea Farm), International Featured Standards (IFS) (Stolt Sea Farm), Specific Self-inspection Systems (SAE) (Stolt Sea Farm), ISCC and CAT-3 (Stolthaven Terminals, Moerdijk)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 12 (Responsible Consumption and Production)
• SDG 13 (Climate Action)
• SDG 14 (Life Below Water)

SDGs guide Stolt-Nielsen's sustainability efforts across all business units.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Jones F Devlin Awards (Stolt Tankers)
• LyondellBasell GoalZERO Safety Award (Stolt Tankers)
• LyondellBasell GoalZERO Safety Award (Stolthaven Terminals)
• Safety Excellence Award (Stolthaven Terminals)
• Dow S4TAR Logistics Best Service Provider (Stolthaven Terminals)
• CSA Certificate of Environmental Achievement (Stolt Tankers)

Environmental Metrics

ESG Focus Areas

• Climate Action
• Life Below Water
• Responsible Consumption and Production

Environmental Achievements

• Stolt Tankers achieved a gold EcoVadis rating, placing it in the 95th percentile.
• Stolt Tankers improved its Carbon Disclosure Project (CDP) rating to B-.
• Stolt Tank Containers achieved a gold EcoVadis rating, placing it in the top 5% of companies in its industry.
• Stolt Tank Containers reduced Scope 1 emissions by 12.7% and Scope 2 emissions by 32.8% at its wholly owned depots.
• Stolt Sea Farm renewed Global GAP certifications for all operations and ISO 9001 and ISO 14001 certifications for France, Spain, Portugal, and Norway.
• Stolt Sea Farm installed solar panels at its sole farm in Tocha, Portugal.

Social Achievements

• Stolt-Nielsen's sustainable engagement score increased for its three logistics businesses and corporate functions.
• Stolt-Nielsen's voluntary employee turnover remained lower than comparable industry averages at 4.1%.
• Stolt-Nielsen implemented a permanent work-from-home policy, allowing office-based employees to work from home two days a week.
• Stolt Tankers launched a retraining program for crews to improve navigational safety.
• Stolt Tank Containers established new safety baselines to include all contractors and their working hours.
• Stolt Sea Farm established a dedicated fish welfare team.

Governance Achievements

• Stolt-Nielsen began its journey to meet the EU Corporate Sustainability Reporting Directive (CSRD) requirements.
• Stolt-Nielsen completed an initial double materiality assessment to identify material impacts, risks, and opportunities.
• Stolt-Nielsen updated its global hiring and employment policy to include a clearer statement on equal opportunities.
• Stolt-Nielsen reviewed its Code of Business Conduct annually.

Climate Goals & Targets

Environmental Challenges

• Bunker fuel and freight costs fluctuations.
• Cyclical and volatile tanker and tank container industries.
• Climate change risks, including severe weather events and stringent regulations (e.g., EU Emissions Trading System).
• Newbuilding risks, including delays and cost increases.
• Political and geopolitical risks affecting international operations.
• Project development risks for Stolthaven Terminals.
• Biological asset inventory price risk for Stolt Sea Farm.
• Currency risk due to mismatches between revenue and expense currencies.
• Cyber risk due to increasing cyber security threats.
• Disease outbreaks and pandemic risks.

Mitigation Strategies

• Bunker hedging program and passing costs to customers.
• Active management of business mix (COA vs. spot), fleet flexibility, and charter periods.
• Investing in energy-efficient technologies, sustainable fuels, and voyage optimization.
• Industry standard provisions for newbuilding contracts and secured progress payments.
• Employing local representatives to manage political and geopolitical risks.
• Employing local country and regional representatives to act as liaisons with local authorities.
• Diversified debt structure and access to various funding sources.
• Proactive risk identification, risk assessments, and integrated cyber security capabilities.
• Updated business continuity plans.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Severe weather events (hurricanes, typhoons, low water levels)
• Changes in sea water temperature

Transition Risks

• Stringent regulations (e.g., EU ETS)
• Cost of EU allowances

Opportunities

• Development of energy-efficient products and services
• Green methanol bunkering hub

Reporting Standards

Frameworks Used: UN Global Compact, Greenhouse Gas Protocol, Global Logistics Emissions Council (GLEC) framework, EN16258, ISO 14083, SASB (Marine Transportation and Air Freight & Logistics)

Certifications: EcoVadis (Gold for Stolt Tankers and Stolt Tank Containers, Silver for Stolthaven Terminals), ISO 9001, ISO 14001, ISO 45001, ISO 50001, ISCC, CAT-3

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 13 (Climate Action)
• Goal 14 (Life Below Water)
• Goal 12 (Responsible Consumption and Production)

Initiatives aligned with these goals are described throughout the report.

Sustainable Products & Innovation

• Graphene-based marine coating to reduce marine growth and improve fuel efficiency

Awards & Recognition

• EcoVadis Gold and Silver ratings
• CDP rating improvement to B-
• Jones F Devlin Awards
• US Coast Guard QUALSHIP 21 certification
• Environmental excellence awards from Chamber of Shipping of America
• Local energy-saving award
• Stolt Tankers Team of the Year
• Stolthaven Terminals Safety Excellence Award and Dow awards
• Stolt Sea Farm Company of the Year award