Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Decent Work and Economic Growth
• Industry, Innovation, and Infrastructure
• Partnership for the Goals

Environmental Achievements

• Reduced fuel consumption per DWT by approximately 11% through fleet renewal program
• Reduced SOx emissions by approximately 85% by complying with IMO 2020 fuel regulations
• Implemented various energy-saving devices (pre-swirl ducts, post-swirl fins, low friction hull coatings) to reduce fuel consumption

Social Achievements

• Maintained ITF-compliant crew labor contracts
• Implemented a robust safety management system resulting in a 1.14 LTIR
• Abided by equal opportunity employer guidelines and promoted diversity in the workforce

Governance Achievements

• Established a best-in-class corporate governance structure with a 100% independent Board (excluding CEO)
• Implemented a comprehensive Code of Ethics program with ongoing training and robust controls
• Joined the Maritime Anti-Corruption Network (MACN) to combat corruption

Climate Goals & Targets

Environmental Challenges

• GHG emissions from shipping contributing to climate change
• Risks associated with mechanical failure, human error, terrorism, sanctions, and piracy

Mitigation Strategies

• Fleet renewal program to acquire more efficient vessels
• Investment in energy-saving devices and performance optimization software
• Implementation of a robust safety management system and exceeding Flag State safe manning requirements
• Compliance with IMO regulations and international conventions

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SASB

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 8
• SDG 9
• SDG 13
• SDG 17

Eagle focuses on these SDGs as they are most relevant to its business and where it can make a difference.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Action
• Decent Work and Economic Growth
• Industry, Innovation, and Infrastructure
• Partnership for the Goals

Environmental Achievements

• Improved fleet fuel efficiency by approximately 15% since commencing a comprehensive fleet renewal initiative five years prior.
• 89% of owned fleet is scrubber-fitted, complying with IMO's 0.50% sulfur limit.
• Implemented a digital platform to validate and monitor ship-specific fuel efficiency metrics, resulting in EEOI improvement by 0.2 gr-CO2 per ton-mile (year on year) since 2018.
• Started a project to equip the entire fleet with water filtration systems, saving an estimated 768,000 single-use plastic bottles per year.

Social Achievements

• Successfully repatriated over 500 overdue crew members during the peak of COVID-19 restrictions.
• Signed The Neptune Declaration on Seafarer Wellbeing and Crew Change.
• Maintained zero seafarers working beyond their contractual working period despite ongoing travel restrictions.
• Collaborated with the SoundWaters Coastal Education Center for beach cleanup, removing about 75 pounds of garbage.

Governance Achievements

• Reported zero whistle-blowing incidents and zero violations of ethical principles in 2020.
• Active member of various industry organizations (BIMCO, MACN, IMEC, GTZ, CSA, SCC, Neptune Declaration) to address industry challenges.
• Maintained a zero-tolerance policy towards bribery and adhered to the U.S. Foreign Corrupt Practices Act and the UK Bribery Act.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic created challenges for crew changes and repatriation, causing many seafarers to work beyond their contracts.
• Travel restrictions in many ports.
• High costs due to extended hoteling requirements, COVID testing, and high airfares.

Mitigation Strategies

• Shifted shore-based staff to WFH.
• Prioritized the safety and wellbeing of all colleagues.
• Went to great lengths to repatriate overdue crew.
• Diverted some ships to ports allowing crew changes.
• Signed The Neptune Declaration to address the crew change crisis.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Increasingly stringent regulations and standards for GHG emissions.

Opportunities

• Fleet modernization and vessel performance optimization initiatives.

Reporting Standards

Frameworks Used: SASB

Certifications: Null

Third-party Assurance: DNV

UN Sustainable Development Goals

• SDG 8
• SDG 9
• SDG 13
• SDG 17

Eagle incorporates the UN Global Compact principles in its operations and reporting.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Decent Work and Economic Growth
• Industry, Innovation, and Infrastructure
• Partnership for the Goals

Environmental Achievements

• Reduced the M/V Sydney Eagle's net well-to-wake CO2 emissions by ~90% during a biofuel voyage across the Atlantic Ocean.
• Achieved its Sustainability Link KPI targets for 2021, resulting in an interest margin reduction benefit for 2022.
• 89% of owned fleet is scrubber-fitted, improving air quality.

Social Achievements

• 97% of shore-based staff and 71% of seafarers vaccinated against COVID-19.
• Implemented a program to enhance vessel internet connectivity, improving communication for seafarers.
• Completed installation of water filtration systems on 41 ships, reducing single-use plastic bottle consumption.

Governance Achievements

• Zero whistleblowing incidents and zero violations of ethical principles in 2021.
• Shoreside employees complete mandatory compliance and Code of Ethics training four times per year.
• Implemented a rigorous compliance and ethics program.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting employee health, well-being, and crew changes.
• Geopolitical challenges impacting crew sourcing from Ukraine and Russia.
• Lack of commercially viable zero-emission fuels and infrastructure.

Mitigation Strategies

• Encouraging employee vaccination, providing support to seafarers and their families affected by the war in Ukraine.
• Deviated vessels to ports permitting crew changes despite extra expenses.
• Exploring ways to further decarbonize the fleet, including investigating new low-carbon fuel options and evaluating new technologies.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Disruption in operations due to extreme weather events.

Transition Risks

• Increasing carbon costs, inclusion of shipping in EU ETS, changes in demand for raw materials.

Opportunities

• Increased demand for transportation services due to energy transition, access to green financing.

Reporting Standards

Frameworks Used: SASB

Certifications: Null

Third-party Assurance: DNV

UN Sustainable Development Goals

• SDG #8
• SDG #9
• SDG #13
• SDG #17

Eagle incorporates the UN Global Compact principles in its operations and reporting.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed