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.