Message from Management:
Our company’s reputation is above all
founded on the quality of its people who are highly experienced,
professional and dynamic individuals with a driving commitment to customer
service.
Our company is committed to operating in a way that minimizes our impact on
the environment, promotes positive social outcomes, and ensures good
governance practices. This ESG manual outlines our policies, practices, and
procedures in these areas.
Purpose
The purpose of this ESG policy is to outline Offshore Global Logistics’ ESG and responsible investment philosophy and its commitments and by doing so provide guidelines for how ESG aspects are handled in our operations. Offshore’s day-to-day management of ESG matters and how it is integrated across the company is the responsibility of the management. The Management of Offshore Global Logistics shall constitute ESG Committee and the ESG Committee will assist with handling all ESG related matters.Environmental, social, and governance (ESG) criteria have been used for years to assess a company’s performance beyond the black-and-white lines of a profit-and-loss statement, challenging executives to measure the value their businesses create in the context of more fundamental ethical values.
For Logistics sector, an ESG framework calls for sustainable energy and waste management systems, investment in community health, and demands that leaders embrace diversity and inclusion as essential duties.
Standards
The Offshore Global Logistics Environmental Social and Governance policy shall meet the following:- Host Country Environmental and Labour Legislation;
- IFC Environmental and Social Performance Standards;
- Sustainability principles advocated by the UN Global Compact;
- UN Guiding Principles on Business and Human Rights;
- ILO Declaration on Fundamental Principles and Rights at Work;
- International Bill of Human Rights.
Principles
Sustainability - The guiding ESG policy and Environmental and Social Management System (ESMS) established by Offshore Global Logistics provides an opportunity to incorporate environmental and social considerations in the design of the climate change mitigation activities to ensure sustainability.Do No Significant Harm – any operatins activity cannot cause significant harm to any of the following objectives: climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and control, protection and restoration of biodiversity and ecosystem.
The IFC’s mitigation hierarchy - is adopted, which aims to anticipate and avoid, or where avoidance is not possible, minimize or mitigate, and, where residual impacts remain, compensate/offset for risks and impacts to workers, affected communities, and the environment. Fit for purpose - To achieve this, the DPs will adopt a risk-based approach to ensure that E&S requirements and processes are commensurate with the level of risk and nature of the projects.
Gender equality - A gender-sensitive approach will be adopted as part of identifying social risks and impacts which will link the corresponding gender risk management measures to activity-level gender action plans.
Offshore Global Logistics shall design and implement projects and programmes in a manner that will promote, protect and fulfil universal human rights recognized by the United Nations as well as respect workers’ rights in line with the ILO Declaration on Fundamental Principles and Rights at Work, prohibiting forced, compulsory and child labour including in supply chain.
The design and implementation of activities will be guided by the rights and responsibilities set forth in the United Nations Declaration on the Rights of Indigenous Peoples.
ESG Policy Statement
Offshore Global Logistics recognizes that our operations can have impacts on the environment. We also believe that it has a responsibility to positively impact communities in which we operate and recognizes that good governance practices are essential for the long-term success of our company.- To ensure that we have minimized the impacts to the environment, have a positive impact to the community and good governance, Offshore Global Logistics is committed to;
- Complying with all applicable environmental laws and regulations;
- Monitoring our environmental impact, including our carbon emissions, and setting goals to reduce it over time;
- Reducing waste by promoting recycling and minimizing the use of single-use materials;
- Conserving natural resources, such as water and energy, through efficient operations and sourcing of materials;
- Working with our suppliers to ensure they adhere to the same environmental standards as us;
- Treating our employees fairly and with respect, providing them with a safe and healthy working environment;
- Promoting diversity and inclusion in our workforce, recognizing the value of different perspectives and experiences;
- Engaging with our stakeholders, including customers, suppliers, and the wider community, to understand their needs and concerns, and to respond to them in a responsible way;
- Supporting social causes and charities through philanthropic efforts;
- Ensuring our board of directors is diverse and independent, with appropriate skills and experience to provide effective oversight and guidance;
- Maintaining strong ethical standards and a culture of integrity throughout our company;
- Being transparent in our reporting, providing timely and accurate information to stakeholders about our operations, financial performance, and ESG practices; and
- Identifying and managing risks to our business, including those related to ESG factors, and reporting on those risks to stakeholders.
Conclusion
Our company is committed to operating in a way that is environmentally sustainable, socially responsible, and governed with integrity. We believe that by doing so, we can create long-term value for our stakeholders and contribute to a better world for future generations.ESG Governance Structure, Roles and Responsibilities
For ESG framework to function properly, it is essential that roles and responsibilities for carrying out the necessary procedures and making decisions are clearly defined. This section defines roles and responsibility of key stakeholders in the ESG framework implementation which is summarized in the below:- Offshore Global Logistics shall develop an effective governance structure with a clear set of roles and responsibilities in order to implement the ESG;
- The approach for developing an ESG governance structure is based on a holistic approach to sustainability, with a joined-up structure that operates across the Company. Integration is thus required across business teams dealing with different customer segments, geographies, business functions, product, and revenue models;
- The ESG governance structure and corresponding roles and responsibilities are developed in a way to gradually develop a cross-functional team of people trained and calibrated on ESG aspects; and
- The ESG governance structure for the company represents all the relevant internal business and operations areas, led by a member of the Leadership Team. The performance related to various ESG aspects is reviewed at the Leadership;
The following ESG governance structure is adopted for ESG management as part of core business functions: The Company understands the importance of a clear and robust ESG governance structure, which is an essential component for long-term success.
ESG Objectives
ESG objectives of Offshore Global Logistics are developed to guide our efforts to build sustainable development capability and ensure that ESG considerations are integrated into all of our business decisions and every operational level. Our ESG objectives are based on six strategic pillars:Governance
Objective: we strive to conduct business according to the highest ethical and legal/regulatory standards, while being timely in communicating our performance To achieve this, we are pursuing and strengthening the following:- Corporate governance
- Risk management
- Disclosure and reporting
Economic Performance:
Objective: we strive to create long-term and sustainable value for investors and shareholders. To achieve this, we are pursuing and strengthening the following:- Financial performance
- Investor relations
Environmental Performance:
Objective: we strive to design, construct and manage our trucks, operations and buildings sustainably with the aim of minimizing the environmental impact of our operations and improving the efficient use of resources. To achieve this, we are managing the following key impact areas of our operations:- Climate change
- Energy management
- Waste management
- Water management
- Green building certificates
Employees:
Objective: we strive to ensure that all employees receive fair and impartial treatment, operate in a safe and comfortable working environment as well as a sustainable career platform. To achieve this, we are focused on the core areas of:- Talent attraction and retention
- Health, Safety and well-being
- Diversity and inclusion
Partners:
Objective: we strive to forge long-term and responsible partnerships with our business partners and other key parties to enhance ESG performance together. We have identified a number of important partners who can support and benefit from our ESG objectives:- Suppliers
- Partners
- Contractors
- Industrial associations
Communities:
Objective: we strive to transform places into vibrant and sustainable communities as well as appropriately integrate communities’ livability into our decision-making. To achieve this, we are focused on the core areas of:- Community investment and volunteering
- Community engagement
- Local economy
ESG Committee
An ESG Committee dedicated to identifying, managing and evaluating environmental, social and governance issues shall be established. The ESG Committee is chaired by the Managing Director and comprises representative from all departments.Diversity Equity and Inclusivity
Offshore Global Logistics supports equal opportunity in its employment practices, including the selection, hiring, promotion, transfer, and compensation of qualified applicants and employees without regard to any characteristic protected by applicable law, including, but not limited to, race and/or ethnicity, color, gender, gender identity, gender expression, sexual orientation, age, religion or belief, national origin or ancestry, citizenship status, language, political affiliation, social or economic status, veteran or military status, marital status, familial status, pregnancy, physical or mental disability, medical conditions, genetic information. Offshore Global Logistics does not tolerate harassment of any of its employees, applicants, vendors or customers, and seeks to maintain a work environment free from harassment. Any form of harassment related to an individual’s race and/or ethnicity, color, gender, gender identity, gender expression, sexual orientation, age, religion or belief, national origin or ancestry, citizenship status, language, political affiliation, social or economic status, veteran or military status, marital status, familial status, pregnancy, physical or mental disability, medical conditions, genetic information, and/or any other characteristic protected by applicable law is a violation of this policy and is treated as a disciplinary matter.ESG Performance Evaluation System
To further consolidate our commitment to sustainable development, we have developed a vision with specific targets for 2030, with the aim of monitoring the continuous improvement of ESG performance. The ESG committee should review on an annual basis the ESG performance of the Company in achieving targets. The employees’ ESG-related performance is incorporated into their overall functional performance, though the evaluation criteria may differ in different employee types. Written recognition, rewards as well as monetary benefits are contingent upon the achievement of the annual performance targets.Stakeholder Engagement Measures
Key stakeholders have an impact on Offshore Global Logistics and are closely related to our business, which are shareholders/investors, government authorities, neighbors, partners, employees and communities/ nongovernmental, non-profit organizations (NGOs). We are committed to establishing multi-faceted communication and contacts with all stakeholders in order to have in-depth understanding and actively respond to stakeholders’ opinions and demands. The impacts of our operations on stakeholders should be periodically assessed, measured and reported.Monitoring and Reporting
Offshore Global Logistics shall adopt a robust set of procedures to ensure that the business activities are in line with ESG requirements, and there is a process of undertaking continual assessment and improvement to the ESG procedures. The Management of Offshore Global Logistics shall nominate the ESG Committee and ESG Leader. The ESG Leader shall evaluate the adherence to ESG principles and procedures on quarterly and on an annual basis through an annual performance monitoring process. These include:- Quarterly monitoring procedures to track the progress made towards ESG integration
- Half-yearly reporting to the ESG management committee by the ESG Leader
- Annual review and monitoring procedures which includes annual performance assessment, implementation of upgrades to the ESG, including an update to the training programs.
- The ESG Committee shall half yearly report to the Board of Directors of the Company