ESG

The significance of climate change and the need to transition to net-zero emissions has become increasingly important within the shipping industry. Our ESG initiatives are aimed toward reducing environmental impact, protecting fragile ecosystems and creating a more diverse, representative workforce.

We’re committed to facilitating climate-smart shipping.

SDG Commitments

We are the only shipping services company to publicly align our ESG framework with four of the 17 United Nations Sustainable Development Goals. These goals were selected by our Directors and employees as the most relevant to our company and operations.

01.

Clean Water and Sanitation

01.

Clean Water and Sanitation

Ensure availability and sustainable management of water and sanitation for all.

6.3 … improve water quality by reducing pollution … minimizing release of hazardous chemicals and materials … and substantially increasing recycling and safe reuse globally.

6.6 … protect and restore water-related ecosystems, including mountains, forests, wetlands, rivers, aquifers and lakes.

02.

Decent Work and Economic Growth

02.

Decent Work and Economic Growth

Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.

8.4 … endeavour to decouple economic growth from environmental degradation.

8.6 … reduce the proportion of youth not in employment, education or training.

03.

Climate Action

03.

Climate Action

Take urgent action to combat climate change and its impacts.

13.3 … Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning.

04.

Life Below Water

04.

Life Below Water

Conserve and sustainably use the oceans, seas and marine resources for sustainable development.

14.1 … prevent and significantly reduce marine pollution of all kinds.

14.2 … sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts, including by strengthening their resilience, and take action for their restoration in order to achieve healthy and productive oceans.

How we will implement
our ESG plan

Client
Offering

We incorporate climate-smart expertise into our client services.

Value
Chain

We will collaborate with the maritime industry to achieve shared ESG goals.

Our Initial Activities

We have already begun our mission to facilitate climate-smart shipping with these first steps:

Offer Carbon Offsets

Braemar’s Carbon Offset platform was launched in April 2022. We are one of the first shipping services companies to offer a service that enables clients to offset their chartering activities online through globally accredited projects.

Offset Operational Emissions

We used our Carbon Offset platform to purchase carbon credits that offset 3,500 tonnes of carbon dioxide, approximately the same amount of Braemar’s entire Scope 1, 2 and 3 emissions for the last five years.

EV Leasing Scheme

We encourage our employees to ‘go electric’ through The Octopus Electric Dreams Car Scheme, which allows them to lease a brand new, fully insured electric car.

Future Plans

In addition to the climate-smart initiatives already instigated, we are committed to implementing these plans by 2025:

Environment

Develop a strategy for transitioning to net-zero carbon emissions.

Collaborate with industry initiatives to expedite our environmental objectives.

Collaborate with expert organisations to protect marine biodiversity.

Society

Strengthen our existing charity partnerships to focus on the key social issues affecting the countries in which we operate.

Identify new beneficiaries with a focus on the needs of maritime and seafaring communities.

Governance

Develop a clear set of reportable metrics to evaluate our activities and show the progress of our ESG commitments for all our stakeholders, including employees, clients, communities and investors.