Navigator Gas Releases ESG 2023 Report

Source: 5/1/2024, Location: Europe

Navigator Holdings Ltd., the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, is pleased to announce the release of its latest Environmental, Social and Governance (“ESG”) report (the “ESG Report”), showcasing the Company's commitment to sustainability and social responsibility.

The comprehensive ESG Report provides an overview of Navigator Gas, its business model and strategy, together with updates on key developments throughout 2023. The second half of the report focuses on sustainability performance across key ESG topics, concluding with a Sustainability and Accounting Standards Board (“SASB”) Key Performance Table and references to Task Force on Climate-Related Financial Disclosures (“TCFD”) towards the end.

2023 ESG Report

Key highlights from the ESG Report include:

Investing to reduce climate impact:
BlueStreak CO2 joint venture, to provide a seamless process to capture, transport and securely store of CO2 emissions;
Investment into Azane Fuel Solutions, to address the urgent need for zero carbon fuel options in the maritime industry; and
Expansion of the ethylene export terminal to increase capacity, improve efficiency and reduce overall emissions.

Environmental impact:
Zero spills into the environment;
Investment of around $5 million committed to implementing technologies maximise efficiency and minimise energy consumption; and
Mean AER improved by 1.8% and 2.8% year-on-year improvement of the fleet sustainability score.

Progressive year for gender equality:
Achieved 39% of women in shore-based positions;
Reached 30 female seagoing employees; and
Attained 28% of women in shore-based leadership positions.

Creating safe places of work:
Zero fatalities across the fleet and business;
14% reduction in total recordable incident rates; and
Implementation of a business-wide safety programme called ‘WeCare’.

Promoting business ethics and integrity across the business:
90% of employees and consultants trained in compliance and anti-corruption processes;
No material anti-corruption incidents recorded in 2023; and
No violations of the Code of Conduct and Business Ethics recorded in 2023.

Mads Peter Zacho, Chief Executive Officer, stated:
"I am very pleased that we have been able to enhance the breadth and scope of our voluntary disclosures, and to report on the significant progress we have made in implementing our strategy. This demonstrates that Navigator Gas is forward-thinking, and leading the way towards a safer and more sustainable gas and energy supply chain."

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