Volstad Maritime AS
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:78752 tons CO2 (2022)
ESG Focus Areas
- Environmental
- Social
- Governance
- Good Health and Well-Being
- Decent Work and Economic Growth
- Climate Action
- Life Below Water
- Peace Justice and Strong Institutions
Environmental Achievements
- Achieved an average Baseline reduction of 4.1% for the fleet in 2022 in fuel consumption.
- Reduced fleet-wide chemical consumption by an unspecified amount.
- Sold Geco Bluefin for recycling at a Hong Kong International Convention-approved yard, triggering funding for green technology investments.
Social Achievements
- Zero Lost Time Incidents (LTI) in 2022.
- Zero Total Recordable Case Frequency (TRCF) in 2022.
- Reduced sickness absence to 3.54% in 2022 from 4.69% in 2021.
Governance Achievements
- Implemented an integrated management system according to ISO standards (ISM, ISO 14001-2015, ISO 9001-2015, ISO 50001-2018, MLC 2006, ISPS).
- Established anti-corruption, human rights, and harassment policies.
- Conducted 62 audits in 2022 (internal and external).
Climate Goals & Targets
Long-term Goals:
- Reduce emissions to zero by 2050.
Short-term Goals:
- Reduce fuel consumption by 2% in 2022 (fleet average).
- Reduce fleet-wide chemical consumption by 15% in 2022-2023 compared to 2021.
Environmental Challenges
- Reducing fuel consumption and achieving net-zero emissions by 2050.
Mitigation Strategies
- Implemented digital tools for live Ship Performance Monitoring to improve energy efficiency.
- Developed Ship Energy Efficiency Management Plans for all vessels.
Supply Chain Management
Responsible Procurement
- Uses mostly regular suppliers and suppliers approved by Incentra, which has a CSR/Code of Conduct.
Climate-Related Risks & Opportunities
UN Sustainable Development Goals
- Good Health and Well-Being
- Decent Work and Economic Growth
- Climate Action
- Life Below Water
- Peace, Justice and Strong Institutions