Navigator Holdings Ltd. (“Navigator” or “Company”) (NYSE: NVGS),
the owner and operator of the world’s largest fleet of handysize
liquefied gas carriers, is pleased to announce the publication of
its 2022 Environmental, Social and Governance (ESG) Report (the
“ESG Report”) and launch of its new ESG strategy ‘Fueling the
Future’ (the “ESG Strategy”).
Building on its progress in ESG over the last
few years, the ESG Strategy strengthens Navigator’s corporate
strategy to connect the world today and deliver a sustainable
tomorrow.
Developed with support from Boston Consulting
Group and Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping,
Navigator’s ESG Strategy identifies three ‘lighthouse’ focus areas,
where the Company believes that, through its capabilities, it can
make the biggest impact and lead the shipping industry. In these
three areas, Navigator aims to:
- Contribute to the shipping
industry’s target to become net zero by 2050;
- Derive one third of revenues from
green cargo such as blue/green ammonia and CO2 by 2030; and
- Ensure that 35% of onshore
leadership positions are filled by women by 2028.
The ESG Strategy is included in the Company’s
first ESG Report, published today. The 2022 ESG Report marks a
step-change in Navigator’s approach to ESG, which has seen the
creation of an ESG Committee of the Board and the appointment of
the Company’s first Head of ESG. Navigator seeks to enhance
transparency around its ESG performance, including its first
Taskforce on Climate-related Financial Disclosures (TCFD) and
Sustainability Accounting Standards Board (SASB) Reports.
Mads Peter Zacho, Chief Executive Officer of
Navigator, said:
“Developed under the leadership of the ESG
Committee of the Board, I’m proud to be launching Navigator’s
comprehensive inaugural ESG report, complete with ambitions and
aims. The aims announced today demonstrate how Navigator wants to
lead the shipping industry’s contribution to creating a low carbon
world. Building on our success to date, I believe that we are in a
strong position to lead on this agenda.”
The full ESG Report is available to download at
the following link:
2022 ESG Report
Highlights from the Navigator’s 2022 ESG
Report
Accelerating our climate change action
- Improved Weighted Annual Efficiency Ratio to 13.54
- Rolled out new digital greenhouse
gas accounting platform
- Reported Scope 3 category 3 fuel-
and energy-related activities and category 7 employee commute GHG
(greenhouse gas) emissions for the first time
Minimizing our environmental impacts
- No loss of containment into the environment
- Recorded an energy efficiency operational indicator (EEOI) of
56.73
- Improved Fleet Sustainability Score to 0.76
Empowering people to thrive
- Achieved 34% women in onshore positions
- Committed $100,000 to corporate philanthropy
- Reached 28 female officers and cadets across the fleet
Creating a safe and secure workplace
- Completed safety maturity assessment
- Achieved zero fatalities or major accidents across our
fleet
- Maintained zero security incidents on our vessels
Promoting Integrity with our people and
suppliers
- Set up Board ESG committee and
appointed first Head of ESG
- Became member of Maritime
Anti-Corruption Network
- Launched strengthened whistleblowing
policy
About Navigator GasNavigator
Holdings Ltd. is the owner and operator of the world’s largest
fleet of handysize liquefied gas carriers and a global leader in
the seaborne transportation services of petrochemical gases, such
as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia
and owns a 50% share, through a joint venture, in an ethylene
export marine terminal at Morgan’s Point, Texas on the Houston Ship
Channel, USA. Navigator’s fleet now consists of 56 semi- or
fully-refrigerated liquefied gas carriers, 25 of which are ethylene
and ethane capable. The Company plays a vital role in the liquefied
gas supply chain for energy companies, industrial consumers, and
commodity traders, with its sophisticated vessels providing an
efficient and reliable ‘floating pipeline’ between the parties,
connecting the world today, creating a sustainable tomorrow.
Navigator’s common stock trades on the New York
Stock Exchange under the symbol “NVGS”.
Navigator GasInvestor
Relations: investorrelations@navigatorgas.com and randy.giveans@navigatorgas.comAddress:
333 Clay Street, Suite 2400, Houston, Texas, U.S.A. 77002Tel: +1
713 373 6197 and +44 (0)20 7340 4850
Investor Relations / Media AdvisorsNicolas Bornozis
/ Paul LampoutisCapital Link – New YorkTel:
+1-212-661-7566Email: navigatorgas@capitallink.com
Forward Looking StatementsThis
press release contains certain forward-looking statements
concerning plans and objectives of management for future operations
or economic performance, or assumptions related thereto, including
statements relating to Navigator’s ESG Strategy. In addition, we
and our representatives may from time to time make other oral or
written statements that are also forward-looking statements. Such
statements include, in particular, statements about our plans,
strategies, business prospects, changes and trends in our business
and the markets in which we operate. In some cases, you can
identify the forward-looking statements by the use of words such as
“may,” “could,” “should,” “would,” “expect,” “plan,” “seek,”
“target,” “aim,” “become,” “anticipate,” “intend,” “forecast,”
“believe,” “estimate,” “predict,” “propose,” “potential,”
“continue,” “scheduled,” or the negative of these terms or other
comparable terminology. These forward-looking statements involve
many risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by such
statements. These risks and uncertainties include, but are not
limited to, those set forth in the periodic reports Navigator files
with the Securities and Exchange Commission.
All forward-looking statements included in this
press release are made only as of the date of this press release.
New factors emerge from time to time, and it is not possible for us
to predict all of these factors. Further, we cannot assess the
impact of each such factor on our business or the extent to which
any factor, or combination of factors, may cause actual results to
be materially different from those contained in any forward-looking
statement. We expressly disclaim any obligation to update or revise
any of these forward-looking statements, whether because of future
events, new information, a change in our views or expectations, or
otherwise. We make no prediction or statement about the performance
of our common stock.
Category: General
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