SUSTAINABILITY

Goals

What good ESG looks like to us

Good environmental, social, governance to KCC is a commitment to making a positive contribution to society by improving the nature of shipping. A best-in-class safety culture that safeguards our people and minimizes our impact on climate and the environment is at the heart of everything we do.

Main Environmental priority

Delivering Cost-effective Decarbonization

Well positioned to deliver cost-effective decarbonization

Material Topics

  • Climate Change

  • Pollution of Water

  • Biodiversity and Ecosystems

  • Ship Recycling

Strategic Targets

  • 2023: 11% reduction in EEOI1 compared to 2018

  • By 2026: 30 % reduction in EEOI1 compared to 2018

  • By 2030: 45 % reduction in EEOI1 compared to 2018

  • By 2050: Net zero

  • No spills to the environment

Performance 2023

  • EEOI1 = 6.5 (-6 % Y-o-Y)

  • Average CO2 emissions per vessel year2 = 18 700 (+4% Y-o-Y)

  • Improved trading efficiency3 to 85 % (+2%-points Y-o-Y)

  • Ballast %3 = 14 % (+2%-points Y-o-Y)

  • Invested USD 13.5 million in 2021-2023 and committed  USD 19 million for 2024 and 2025 in energy efficiency technologies/solutions for the fleet

  • Successful first large energy efficiency retrofit

  • Contracting of three "zero-emission fuel ready" CABU vessels

  • Zero spills to the environment

Main Social priority

Always Safe and Secure

Well positioned to deliver cost-effective decarbonization

Material Topics

  • Health and Safety

  • Diversity and Equity

  • Human Rights

  • Labor Rights

  • Human Capital

Strategic Targets

  • No injuries

  • Lost Time Injury Frequency (LTIF) < 0.5

  • Zero vessel detentions

  • Average number of high risk observations per inspection for SIRE < 2

  • Average number of deficiencies per port state control < 0.5

  • Retention rate crew > 90 %

  • Ensuring respect for human rights

Performance 2023

  • No major and medium injuries

  • LTIF = 0.0

  • Port state detentions = 2

  • Average number of high risk observations per inspection for SIRE5 = 0

  • Average number of deficiencies per port state control = 1.3

  • Retention rate crew = 95 %

  • Performed due dilligence of three shipyards for human rights and working conditions

Main Governance priority

Trusted and responsible partner

We strive to have a high level of corporate gover-nance securing accountability and transparency for all stakeholders.

Material Topics

  • Anti-corruption

  • Compliance and Ethics

  • Whistleblowing

  • Cyber Security

Strategic Targets

  • Zero corruption cases

  • Number of reported requests and avoided facilitation payments > 8

  • Anti-corruption training for crew > 75 %

  • All counterparties subject for business ethics checks through established Know Your Counterparty (KYC) Procedures

Performance 2023

  • No corruption cases

  • Number of reported requests and avoided facilitation payments = 5

  • Anti-corruption training for crew = 97 %

Membership in the Maritime Anti-Corruption Network (MACN)

Torvald Klaveness was one of the founding members of the Maritime Anti-Corruption Network (MACN) in 2011. Since then it has grown to include over 140 member companies. MACN is a mission driven not for profit organization established by the maritime industry to tackle corruption in the maritime industry.

Committed to decarbonizing the shipping industry

Together with some of the world’s largest energy, agriculture, mining, and commodity trading companies we committed ourselves to assessing and disclosing the climate alignment of our shipping activities in October 2020. A necessary step towards reducing the global footprint of our industry. 

The Sea Cargo Charter provides a global framework to bring climate considerations into chartering decisions, to favor climate-aligned transportation and it establishes a common baseline to quantitively assess and disclose whether shipping activities are aligned with adopted climate goals. We are committed to doing our part in making the world a better place for future generations.