2020 Bulkers Ltd.
Climate Impact & Sustainability Data (2021, 2022, 2023)
Reporting Period: 2021
Environmental Metrics
Total Carbon Emissions:248,967 MT CO2
Renewable Energy Share:0%
ESG Focus Areas
- Environmental Emissions and Energy Efficiency
- Health, Safety, and Security
- Labor and Human Rights
- Anti-Corruption
- Accountability and Transparency
Environmental Achievements
- Fleet is estimated to be 38% more carbon emission efficient per ton mile compared to a standard Capesize vessel
- Exhaust gas cleaning systems remove 80% of all particulate matters
- EEDI score for the 2020 Bulkers fleet is 2.11, which is 16% lower than the IMO requirement for phase 1 vessels
Social Achievements
- Zero Lost Time Incidents (LTI)
- Successful crew repatriation changes within timelines accepted by MLC, other labor unions and port authorities
- Crew members who extended contracts were financially compensated
Governance Achievements
- Zero-tolerance policy on corruption
- Compliance with MACN rules
- Follows the Norwegian Code of Practice for corporate governance
Climate Goals & Targets
Long-term Goals:
- Path to zero emissions based on realistic and proven solutions
Medium-term Goals:
- Development of alternative low carbon fuels and digitalization tools
Short-term Goals:
- Keep emissions at a minimum through operational efforts
Environmental Challenges
- Covid-19 pandemic challenges in crew changes and logistics
- Marine growth and hull performance after 28 months
Mitigation Strategies
- Strong focus on meeting standards with OSM technical manager
- Continuous monitoring and evaluation of fleet energy performance
- First class anti-fouling hull treatment systems applied
Supply Chain Management
Responsible Procurement
- All vendors and contractors are required to follow international and local labor and human rights standards
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: SASB, GRI
UN Sustainable Development Goals
- SDG 13
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:213,033 MT CO2
Renewable Energy Share:0%
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Fleet is estimated to be 36% more carbon emission efficient per ton mile compared to a standard Capesize vessel
- Exhaust gas cleaning systems remove 80% of all particulate matters
- EEDI score for the fleet is 2.11, which is 16% lower than the IMO requirement for phase 1 vessels
Social Achievements
- Zero Lost Time Incidents (LTI)
- Compliance with Flag state, MLC and relevant CBA
- Zero marine casualties
Governance Achievements
- Zero port calls in corruption risk areas
- Zero facility payments
- Zero fines
- Follows the Norwegian Code of Practice for corporate governance
Climate Goals & Targets
Environmental Challenges
- Crew change related stress due to Covid-19 (mitigated by digital solutions and physical interaction)
- Difficult situations for seafarers due to the Russian invasion of Ukraine (mitigated by efforts to ensure seafarer care)
Mitigation Strategies
- Continued use of digital solutions
- Prioritizing crew welfare
- Closely following development of future solutions like wind propulsion, carbon capture and green fuels
Supply Chain Management
Responsible Procurement
- All vendors and contractors are required to follow international and local labor and human rights standards, laws, and regulations
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: SASB, GRI, SDG
UN Sustainable Development Goals
- 13
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:230,831 MT CO2
Renewable Energy Share:0%
ESG Focus Areas
- Environmental Sustainability
- Social Responsibility
- Governance
Environmental Achievements
- Fleet is estimated to be 36% more carbon emission efficient per ton mile compared to a standard Capesize vessel
- Exhaust gas cleaning systems remove 80% of all particulate matters
- EEDI score for the fleet is 2.11, 16% lower than the IMO requirement
Social Achievements
- Zero Lost Time Incidents (LTI)
- Compliance with Flag state, MLC and relevant CBA
- Zero port state control detentions and marine casualties
Governance Achievements
- External review of governance policy with satisfactory results
- Zero port calls in high corruption risk areas
- Zero facility payments and fines
Climate Goals & Targets
Environmental Challenges
- Upcoming EU Emission Trading System (ETS) and Scope 3 emission reporting
Mitigation Strategies
- Upgrading underwater paint systems to optimize friction and hull performance
- Continuous monitoring and evaluation of fleet energy performance
- Following technological developments to reduce environmental footprint
Supply Chain Management
Responsible Procurement
- Requiring vendors and contractors to follow international and local labor and human rights standards
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: SASB, GRI
UN Sustainable Development Goals
- 13