Maintaining Open
Communication
Identifying our stakeholders
BW LPG aims to meet all stakeholder expectations. Here we show
- Key expectations of our stakeholders
- How we engage with our stakeholders
| Stakeholders | How We Engage | Key Expectations | Engagement and Initiatives in 2021 |
|---|---|---|---|
| Crew | Training, workshops, conferences; Emails, in-house social media platform, surveys; Vessel visits and office attachment programs | • Occupational safety • Career development and training • Fair compensation • Supportive, diverse and inclusive culture • Work-life balance | • Held bi-annual Senior Officers Conferences to encourage dialogue and provide updates • Provided LPG propulsion engine training for crew on board dual-fuelled LPG vessels • Continued engagement on BW@work (an internal communications platform) for workplace-related guidelines, initiatives and learnings |
| Employees | Online townhalls and meetings; Emails, Intranet, Surveys; Involvement in community outreach initiatives | • Occupational safety • Career development and training • Fair compensation • Supportive, diverse and inclusive culture • Work-life balance | • Leveraged LinkedIn Learning to provide flexible training and upskilling opportunities • Enhanced annual employee pulse survey to collect more nuanced feedback • Sponsored multiple employee engagement activities to promote team bonding and encourage work-life balance • Launched “Our Whole Self” program, a diversity, inclusion and belonging (DI&B) program alongside BW Group |
| Customers | Online industry events and seminars; Emails, calls, website and social media; Online presentations and meetings | • Operational excellence • Competitive rates • Flexible and good customer service • Integrated service offering • Low carbon footprint | • Completed conversion of 15 VLGCs with LPG propulsion engines to improve environmental efficiency of vessels • 24-hour customer service • In-person meetings on fleet developments, performance and service offerings • Diversified our business offerings with the expansion of BW Product Services |
| Suppliers | Online industry events and seminars; Emails, calls, website and social media; Online meetings | • Sustainable supply chain • Prompt payment • Equal opportunities and clear engagements | • Conducted ESG assessment on all active suppliers in collaboration with Sustainalytics • Continued dialogue and meetings with existing and new suppliers • Audited suppliers for compliance with BW LPG’s Code of Ethics and Business Conduct |
| Investors | Annual/Quarterly reports and press releases; Emails, calls, website and social media; Online presentations and meetings | • Return on investments • Transparent and clear strategy • Compliance with regulations • Abreast of industry trends with sound risk assessments • Alignment of shareholders’ interest with management | • Participated in the Carbon Disclosure Project (CDP) • Improved disclosures in external reports • Provided timely updates through quarterly earnings presentations • Live Q&A sessions during quarterly earnings presentations • Strengthened in-person dialogue with current and potential investors and regularly participate in investor conferences |
| Lenders | Annual/Quarterly reports and press releases; Emails, calls, website and social media; Online presentations and meetings | • Timely and reliable reporting • Compliance with loan covenants • Material ESG initiatives to support sustainability strategy | • Regular dialogue with lenders both in-person meeting and online • Held annual bankers meeting with live Q&A session to share business updates • Provide timely updates and clear communication of strategic and ESG initiatives |
| Government and Regulators | Online industry events and seminars; Emails, calls, website, press releases and social media; Participation in industry coalitions | • Safe and reliable shipping • Collaborate and innovate • Abide by regulatory requirements • Develop superior management policies | • Actively participated in industry events to raise awareness and share knowledge • Increased collaboration with BW Group Affiliates and industry peers • Revised internal policies to reflect changing regulations and expectations |
Sustainability Approach
At the core of our sustainability approach is the purpose of BW LPG – where we work towards a Better World.
Sustainability Strategy & Governance
Guided by our Vision and Purpose, our sustainability strategy is based on three key pillars and are underpinned by our CARE values.
Sustainability Goals and Priorities
Our sustainability priorities are guided by what matters most. We triangulate data sources to map a materiality matrix and identify key material topics.
