Environmental, Social and Governance (ESG) is at the core of ADNOC L&S priorities. We are cognizant of our responsibility to encourage sustainable practices in our policies, operations, supply chains and communities. We have aligned our strategic priorities to create sustainable value for all our stakeholders — our clients, our employees, our communities and our shareholders.
Our vision is aligned with ADNOC Group’s ESG strategy. We are a sustainability leader for the UAE’s maritime and logistics ecosystem, and we seek to leverage our maritime heritage to enhance the UAE’s status in the global maritime industry.
At the heart of our ESG strategy there are four areas of focus:
We are, and will remain, committed to the protection and enhancement of the environment through monitoring, reporting and continual improvement of our environmental performance across a range of areas.
Our programs include energy efficiency, emissions’ reduction schemes, retiring single cycle power generation units, real-time optimization driven by implementing digital technology, material consumption and the implementation of reduce, reuse and recycle principles, use of hazardous waste as raw material for other industries, water management (through key systems and software, as well as recycling and reuse of wastewater) and waste management.
Our decarbonization ambitions are in line with ADNOC Group’s target of 25% emissions’ intensity reduction by 2030 and the UAE Net Zero by 2050 Strategic Initiative, as well as exceeding the IMO’s targets by lowering the annual greenhouse gas (GHG) emissions from international shipping by at least half by 2050 (compared with 2008 levels) and reducing carbon intensity of international shipping.
We have reduced the carbon intensity of our owned fleet by more than 20% between 2018 and 2022 and are meeting IMO's targets for decarbonization, and we have successfully trialed the use of, and continue to use biofuels in 13 of our vessels since 2020.
Driving further improvements in efficiency and emissions’ reduction, we have invested and committed approximately $2 billion in environmentally friendly vessels.
Working closely with our supply chain enables us to contribute to the UAE economy through the In-Country Value (ICV) program, encouraging UAE suppliers, promoting local talent and the development of UAE nationals, and localization of critical functionalities in the energy maritime sector.
We are committed to operating our business to the highest ethical standards and practices. Our Supplier Code of Business Ethics outlines the minimum standards of compliance and ethical practices that we expect from each of our partners and suppliers.
We recognize the importance of creating an engaged, diverse and capable organization for the long-term success of our business.
Embracing diversity enables us to attract and retain talented people. We are committed to fostering an inclusive culture, and to provide equal opportunities for career development and advancement, regardless of gender, ethnicity, age and culture. As part of our social-related efforts, we also promote Emiratization across our entire organization.
We support our employees’ professional development through focused training and talent development programs. We have designed specific programs that have led to an increase in the proportion of management positions held by female employees.
We are committed to protecting the health and safety of our people and the communities in which we operate.
Our comprehensive Health, Safety and Environment (HSE) policies, management systems and supporting processes focus on operational excellence across our onshore and offshore marine operations. We aim to ensure that all our assets and operations embed a 100% HSE culture and achieve continuous improvement.
We seek to regularly train our employees and engage with our contractors to implement the best sustainable maritime business practices. We have equipped over a third of our fleet with a proprietary Artificial Intelligence (AI) enabled smart vessel system that provides insight into personnel safety and a range of HSE related data.
Our programs have produced a reduction in both lost time injury frequency and total recordable incident rates of over 70% between 2018 and 2022.
We have also won a Guinness World record in 2022 for achieving 18.5 million hours worked without a Lost Time Injury (LTI).
We embrace sustainability as a strategic path to increase integrity and accountability across the company and adhere to standards of corporate governance that are in line with international best practices.
Our board, which oversees our management and business affairs, consists of duly qualified and experienced directors appointed in line with SCA requirements. We comply and are aligned with the SCA rules concerning the corporate governance of listed companies and have strong independence criteria in place. Our board committees consist of an audit and risk committee, a board executive committee and a nomination and remuneration committee.
We have adopted robust and well-developed policies and standards. In several areas our systems and performance have been assessed externally against recognized international standards.
International Standards Organization Certification
ISO9001 Quality management
ISO14001 Environmental management
ISO27001 Information security
ISO 223001 Business continuity
ISO45001 Occupational health and safety
ISO50001 Energy management
ISO55001 Asset management
