Driving Force for Change

DRIVING FORCE FOR CHANGE

This Report demonstrates the link between our strategy and commitment to understanding the economic, environmental and social impact caused by our business activities.

Introduction

Responsible operations and profitable growth are not conflicting goals - rather, they are preconditions for each other. Megatrends such as global warming impact our industry, and we cannot worry about it later.

Martin Ackermann,
BW LPG CEO

It is encouraging to see increasing awareness on sustainability and sustainable practices in our industry. We want to move beyond risk management and a reactive mindset, and towards identifying business opportunities in the area of sustainability. Being a sustainable company is to create value for society - continuing to remain committed in our efforts to make people's lives better, enable economies to grow, and protect the environment for future generations.

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Ensure continued company-wide emphasis to deliver great solutions to our customers with Zero Harm, and continued guarding against piracy.

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Foster workforce diversity, including at leadership levels.

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Increase our advocacy of LPG as an affordable and clean energy.

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With business decisions, we help push efforts to build better infrastructure and promote inclusive and sustainable industrialisation.

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Through innovation such as dual-fuel propulsion engines, we ensure that we play our part in reducing our environmental footprint.

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We highlight renewed efforts at stamping out bribery in the industry, through company-wide initiatives, and through participation in industry bodies.

Materiality Assessment And 2018 Material Issues

As a maritime energy transportation company specialising in the safe and efficient carriage of LPG, many topics BW LPG considers material are aligned with the United Nations Sustainable Development Goals (UNSDGs). These topics can reasonably be considered important for reflecting BW LPG’s economic, environmental, and social impacts, or influencing the decisions of stakeholders. In 2017, BW LPG structured its Sustainability Report loosely along the principles provided by the Global Reporting Initiative (GRI). A material assessment was conducted and seven topics of materiality were highlighted, which were aligned with seven UNSDGs.

Materiality is a critical input into this Sustainability Report as it ensures we provide our stakeholders with the sustainability information most relevant to them and our business. Material topics are those that can reasonably be considered important for reflecting BW LPG’s economic, environmental, and social impacts, or influencing the decisions of stakeholders. Materiality can also be determined by international standards and agreements, broader societal expectations, and by our influence on upstream entities, such as suppliers, or downstream entities, such as customers. The following are the topics of materiality that BW LPG has prioritised for inclusion in the 2018 Sustainability

Report, using the materiality principle. The materiality principle identifies material topics based on the following two dimensions,

i) the significance of BW LPG’s economic, environmental, and social impacts; and ii) their substantive influence on the assessments and decisions of our stakeholders.

This year, the Report provides updates on our commitment towards seven UNSDGs. We continue to improve on gender representation especially in leadership roles. We organised a Zero Harm art competition to involve family members in the discussion of safety on-board and on shore. On the important matter of governance, we show our strong support towards the industry’s effort to stamp out bribery, especially facilitation payments. The crew on-board BW Frigg demonstrated how training and good teamwork can be a strong tool against piracy. Our emphasis on LPG as an affordable and clean energy is renewed with our CEO Martin Ackermann assuming a board membership at the World LPG Association.