Responsible and transparent business practices
Which uphold our Vision, Purpose and Core Values and contribute to the UN Sustainable Development Goals.
Environmental performance dashboard
Environmental Performance Dashboard
Sustainability Priority | Emissions and Energy | Biodiversity and Waste Management |
---|---|---|
UNSDG Goal | ||
2022 TARGETS | • Install SMARTShip on last 7 of 26 vessels by Q1 2023 • Retrofit our last 3 of 15 vessels with LPG dual-fuel propulsion engines in 2022 • By 2030 we will only have newbuildings that can achieve net-zero carbon emission during its lifetime | • 0 oil spills • 100% compliance with all MARPOL conventions • 100% of all ship recycling projects to be done with shipyards that operate in compliance with the Hong Kong Convention • 100% compliance with the Ballast Water Management Convention • Complete Ballast Water treatment system installation and upgrades on all owned and BW LPG India fleet by end 2023 |
2022 PROGRESS | • Completed installation of SMARTShip on 19 vessels (Remaining vessels were sold/transferred to JV fleet) • Completed all 15 LPG dual-fuel propulsion engines retrofit in 2022 • No newbuildings were ordered in 2022 | • 0 oil spills in 2022 • 0 non-compliance with the Ballast Water Management Convention • 0 non-compliance with all MARPOL conventions • No vessels were recycled in 2022 • 9 vessels in our whole fleet installed/upgraded its ballast water treatment systems |
2023 TARGETS | • By 2030 we will only have newbuildings that can achieve net-zero carbon emission during its lifetime. • Fleet in compliance with EEXI requirements • Fleet to have a CII rating of "C" or better | • 100% compliance with the Ballast Water Management Convention. • Complete Ballast Water treatment system installation/upgrade on all owned and BW LPG India fleet by end 2023. • 100% compliance with all MARPOL conventions. • No oil spills. • 100% of all ship recycling projects to be done with shipyards that operate in compliance with the Hong Kong Convention and certified to ISO 30000 |
Governance Performance Dashboard
Sustainability Priority | Corporate Governance | Anti-Bribery and Anti-Corruption | Operational Excellence and Effective Management |
---|---|---|---|
UNSDG Goal | |||
2022 TARGETS | • 0 non-compliance with laws and regulations | • Enhance ABAC communication to all crew and employees through updated trainings • ≥ 1 event to raise awareness of latest developments in areas of operation • Continue to monitor and improve shore to ship communications to support our crew | • Audit top 50 suppliers by end-2022 • 100% of active suppliers assessed on ESG practices • 0 detentions • Increase collaboration with industry bodies • Maintain ISO certifications • On-time and on budget project execution |
2022 PROGRESS | • 0 non-compliance with laws and regulations | • Biennial ABAC survey was conducted achieving favourable results and updated ABAC training materials • Raised awareness through 2 Senior Officers Conference • Increased communication to all crew and employees through various modes | • Audited 50 suppliers • 100% of active suppliers assessed on ESG practices • 0 detentions • Increased communication and collaboration with industry bodies • Maintained ISO certifications • On-time and on budget project execution |
2023 TARGETS | • 0 non-compliance with laws and regulations | • Enhance ABAC communication to all crew and employees through updated trainings. • At least one event to raise awareness of latest developments in areas of operation. • Continue to monitor and improve shore to ship communications to support our crew | • 100% of Top suppliers audited on ESG practices • 0 detentions • Increase collaboration with industry bodies • Maintain ISO certifications • On-time and on budget project execution • Efficient utilisation of available capital to generate additional profits • Outperform peers in TCE, OPEX and ROE • Continuous improvement in ESG efforts |
Executive Remuneration
BW LPG has an extensive Compensation Policy to ensure competitiveness, equitable rewards, and quality across all company positions while ensuring consistent handling of terminations. Individual remuneration is influenced by factors including reemployment regulations and market conditions, position, performance, and competence. The company is dedicated to equitable pay, irrespective of personal beliefs or individual characteristics. A salary review process is in place, and the Human Resources Department assists Line Managers to determine fair and impartial salary increases, and the former also conducts global analyses to ensure alignment with a fair pay approach.
Social Performance Dashboard
Priority
TARGETS
• Lost Time Injury Rate ≤ 0.5
• Total Recordable Case Frequency ≤ 1.5
• Implement additional Health and Safety requirements under contractor terms and conditions
• Achieve ≥ 80% participation rate on Employee Pulse survey
• Achieve ≥ 70% satisfactory result on Employee Pulse Survey on employee engagement
• Maintain long term partnerships to contribute to communities
PROGRESS
• Lost Time Injury Rate ≤ 0.5
• Total Recordable Case Frequency ≤ 1.5
• Implemented additional Health and Safety requirements under contractor terms and conditions
• Achieved ≥ 80% participation rate on Employee Pulse survey
• Achieved ≥ 70% satisfactory result on Employee Pulse Survey on employee engagement
• Maintained long term partnerships to contribute to communities
TARGETS
• Lost Time Injury Rate ≤ 0.5.
• Total Recordable Case Frequency ≤ 1.5
• Investment into training, upgrading and upskilling programs
• Have at least 2 interns/trainees in our industry exposure program to encourage and groom maritime talent
• Amount spent on initiatives and engagements