OUR COMMITMENTS - 2025 GOALS
OUR ESG GOALS AND COMMITMENTS TO THE SDG’S
In 2021 we designed and implemented our updated ESG Plan which includes specific goals and measurable targets for the period 2021- 2025. Environmental protection and pollution prevention are of high importance to the company. The table below lists Danaos’ sustainability plan for 2025 and summarizes our commitments to ESG and its status.
ENVIRONMENTAL
2021 – 2025 | STATUS 2023
EMBEDDED
Emissions
- 47.5% reduction of CO2 emissions intensity by 2025 (baseline 2008 IMO) (grCO2/ tones x miles)
- Exhaust gas Cleaning Systems (scrubbers) have been installed, certified and are now in operation onboard 9 Danaos vessels (2 vessels were sold).
Marine Pollution, Conservation & Biodiversity
- Work with vessels to ensure zero significant spills.
Waste Reduction
- Zero waste overboard. No paper to landfield to our offices.
Environmental Compliance
- Perform gap analysis and issue compliance roadmap with modifications to take place on each vessel (when relevant regulatory enforcement takes place).
Memberships
- Become a member of the Global Maritime Forum (GMF) and joined the Getting to Zero Coalition.
- Become a member of the Ammonia Energy Association (AEA) and explore potential alternatives for newbuilding vessels.
- Became a member of the Methanol Institute
Reporting
- Ensure full transparency to the IMO DCS and EU MRV -UK MRV emission reporting schemes through our advanced WAVES data analytics platform.
- Monitor and report company’s fleet emissions and energy efficiency indices in our annual report.
Initiatives
- Develop tools to monitor compliance with various initiatives such as the Poseidon Principles, Climate Bonds, SBTi and sharing of relevant data with our clients.
Environmental Management System
- ISO-50001 Environmental Management System adopted in 2015 is now stimulating energy efficient operational practices and provides the necessary metrics.
IN PROGRESS
Emissions
- Full alignment with the IMO 2030 targets for carbon intensity and the 2050 targets for net-CO2 emissions (carbon neutral by 2050).
- By 2050 all newbuilds are to be carbon neutral transitioning to alternative fuels subject to availability, as well as technological and regulatory readiness.
- 25% of vessels will be equipped with AMPs to ensure full power with less emissions.
- Participating in Joint Industry Projects (JIP) investigating the use of alternative fuels to improve combustion and reduce the carbon footprint of vessels.
Waste Reduction
- Reduction of wastes volume onboard vessels 50%.
Innovation
- Work on the full digitalization of company’s processes ensuring close control and prompt response promoting fuel efficiency.
- Continuous study and research on technical measures and design retrofits aiming at improving vessels performance.
- Support R&D research activities on the study and investigation of the use of alternative fuels and innovative technologies.
Marine Pollution, Conservation & Biodiversity
- Successful installation, certification, and operation of Water Ballast Treatment systems for the whole fleet.
SOCIAL TARGETS
2021 – 2025 | STATUS 2023
EMBEDDED
Child and Forced Labor
- No child or forced labor permitted in our own operations.
- Screening our significant suppliers to preclude child or forced labor.
- Screening our significant suppliers to comply with Human Rights, Equal Opportunities and Non-Discrimination Policies.
Training & Development
- All staff trained on Health, Safety, Social and Environmental (HSSE) risks.
- Offer summer internship programs.
Crew Retention
- Maintain annual crew retention rates above 80%.
- Compliance with ILO requirements for seafarers.
Procurement
- Establish a sustainable procurement policy and screening of our suppliers.
Employee Retention
- Expand diversity and equal opportunities.
Safety
- Screening our significant suppliers to have Safe Working Condition policies in place.
- Zero fatal accidents
Supporting Local Communities
- Maintain our strong social engagement and provide support to vulnerable groups.
- Encourage the spirit of volunteerism among the employees towards environmental and charity activities.
- Provide Sponsorships to Universities’ Students.
- We commit to increase our social impact by 30%
IN PROGRESS
Safety
- Maintain our LTIF significantly lower than the industry averages.
Training & Development
- Ensure company culture of sustainability is in place onboard and ashore.
- Ongoing monitoring of our people’s career development and training.
Employee Retention
- Maintain annual employee retention rates above 90%.
GOVERNANCE TARGETS
2021 – 2025 | STATUS 2023
EMBEDDED
Corruption
- Zero Tolerance to bribery and corruption.
- Screening our significant suppliers to comply with anti-corruption policies.
Reporting ESG - Ratings
- Maintain full transparency in ESG report.
- Increase ESG Ratings by globally renowned Rating Agencies.
- Integrate SASB standards into ESG report.
Ethical Business Conduct
- Provide to all (100%) crew members and office employees a customized educational program of ethical business conduct.
- Screening our significant suppliers to adhere to Danaos Code of Ethics.
Whistleblowing
- Provide a confidential and effective whistleblowing system for reporting violations.
IN PROGRESS
Corruption
- Establish partnerships with sustainable and anti-corruption initiatives.
Diversity
- 25% women as Board Members and Executives.
Customer Satisfaction
- Maintain customer satisfaction at 95% or above through the application of new tasks.
100% of Significant Suppliers to be assessed
- Status: ESG Suppliers Questionnaire was addressed to all Danaos significant suppliers. 35% of them replied. Assessment resulted in zero significant suppliers being excluded from the approved list of suppliers.
