The Danaos Low Carbon Transition Plan (LCTP), published in 2022, offers a comprehensive overview of our dedication to climate action and describes our decarbonization strategy.

This ESG Report covers the period from January 1 to December 31, 2023, and illustrates our environmental, social and governance (ESG) activities, responding to our stakeholders’ expectations and interests in a transparent and comprehensive way.

At Danaos, we regard sustainability as both a fundamental component of our corporate culture and a crucial decision-making regulator. We maintain the highest operational standards both on board and onshore to provide an ethical, safe, and pollution-free environment for all. We assess our success against our commitments and optimize our approach appropriately, and we are pleased to note that considerable achievements have been achieved on our ESG journey. We acknowledge the importance of being a responsible member of society, hence why our Environmental, Social, and Governance (ESG) approach provides us with a strategic roadmap toward becoming a more sustainable and resilient corporation.

Our ESG agenda and sustainability related actions are at the forefront of everything that we do.

The Danaos Low Carbon Transition Plan (LCTP), published in 2022, offers a comprehensive overview of our dedication to climate action and decarbonization strategy, surpassing the targets set by the IMO. It reflects our aspirations to align with the 1.5°C pathway and adhere to internationally recognized goals for both the near and long term. Our primary avenues for reducing carbon emissions include implementing technologies to enhance fuel efficiency and minimize process emissions, investing in a greener fleet, and incentivizing our suppliers to reduce their carbon footprint. The LCTP aims to achieve a 50% reduction in Energy Efficiency Operational Index (EEOI) by 2030 compared to 2008 levels, with the ultimate goal of attaining carbon neutrality by 2050. Key initiatives such as the adoption of Shadow Carbon Pricing and commitment to the Science Based Initiative are poised to play a pivotal role in realizing the objectives outlined in the LCTP. By aligning our environmental vision with targets beyond those set by the IMO, including the Sustainable Development Scenario (SDS) and Nationally Determined Contributions (NDC) under the United Nations Framework Convention on Climate Change (UNFCCC), we underscore our commitment to environmental stewardship and sustainable practices.

In 2023, we reported our key sustainability metrics to S&P Global CSA, enabling the company to showcase our performance across a diverse range of sector-specific economic, environmental, and social criteria. Following the evaluation, we achieved a rating of “40” and ranked in the top 20% of the “Transportation and Transportation Infrastructure” sector. Notably, we excelled in the Environmental pillar, placed among the top 10% in the sector.
Another significant milestone for Danaos in 2023 was the disclosure of environmental risks, opportunities, and short-term targets on CDP (Carbon Disclosure Project). In the “2023 CDP Climate Change Response Assessment,” we received a CDP Score B- and a B- score for the CDP Supplier Engagement Rating report, conducted by CDP, a global sustainability evaluation agency. CDP annually provides investors and financial institutions with information on climate change response strategies, GHG emissions, and reduction efforts of major listed companies worldwide. This initiative underscores our commitment to transparency and serves as a catalyst for continued improvement in the years ahead.
Following S&P Global CSA evaluation we were ranked in the top 20% of the "Transportation and Transportation infrastructure" sector, while we excelled in the Environmental Pillar, placed among the top 10% in the sector!
In the "2023 CDP Climate Change Response Assessment," we received a CDP Score B- and a B- score for the CDP Supplier Engagement Rating report.


In 2023, we enhanced our approach to sustainability and risk management by integrating the Double Materiality Assessment with the Risk Management processes. This integrated approach is informed by specific criteria such as sector materiality, stakeholder expectations, legal commitments, and strategic alignment, ensuring a comprehensive understanding of ESG impacts and associated risks.

A qualitative questionnaire was distributed to individuals belonging to 6 stakeholders’ groups (employees, charterers, insurers, financial institutions, suppliers, and the management). Stakeholder insights from the materiality assessment enhance the understanding of risk perception. By actively involving stakeholders through a qualitative survey, we gain a multifaceted view of how different ESG topics impact various stakeholder groups. The topics acknowledged of high importance either from the external stakeholders or the company’s management ranked as material.

Material topics identified were in conjunction with the Sustainability (ESG) Strategy of 2021 prepared by the company. In the 5-year sustainability (ESG) Strategy as of 2021 was also highlighted the importance of improving the key ESG rating performance commitments, to achieve IMO goals as well as, transparency and disclose ESG data annually.


1. Economic Performance

2. Indirect Environmental

3. Procurement Practices

4. Anti-Corruption

5. Tax

6. Monitoring & Mechanisms

7. Regulatory compliance

8. Business ethics

9. Strategy & Risk Management

10. Transparency

11. Roles & Responsibilities


12. Energy

13. Water and effluents

14. Biodiversity

15. Emissions

16. Waste

17. Suppliers Environmental



18. Employment

19. Humans’ rights policy

20. Labor/Management Relations

21. Occupational health

and Safety

22. Training and Education

23. Diversity and Equal


24. Non-discrimination

25. Child Labor

26. Forced and Compulsory


27. Security Practices

28. Local Communities

29. Supplier Social


30. Public Policy

31. Customer Privacy

The material topics presented above are determined by the outcome of the 2023 materiality assessment in conjunction with the 2021 Sustainability ESG strategy. The topics which have been identified for the first time are underlined for clarity.
An ongoing dialogue with our stakeholders is of paramount importance so that through our actions and targets we can fulfill their needs and concerns. Moving forward, we are regularly developing full materiality assessments in which stakeholders are asked to map out sustainability issues according to their importance.
As seen by the aforementioned results, the materiality survey validated the strategy’s direction.



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.


2021 – 2025 | STATUS 2023



  • 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).


  • 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


  • 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.


  • 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.



  • 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%.


  • 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.


2021 – 2025 | STATUS 2023


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.


  • Establish a sustainable procurement policy and screening of our suppliers.

Employee Retention

  • Expand diversity and equal opportunities.


  • 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%



  • 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%.


2021 – 2025 | STATUS 2023



  • 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.


  • Provide a confidential and effective whistleblowing system for reporting violations.



  • Establish partnerships with sustainable and anti-corruption initiatives.


  • 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.


In Danaos we are working on aligning key specific targets and future investments with the global United Nations Sustainable Development Goals (SDGs) and Environment, Social and Governance (ESG) criteria. We are a link in a chain of multiple forces, and our priority is to strengthen our commitment to contributing to this global call to take action to eradicate poverty, safeguard our planet, battle climate change, and ensure that all people experience peace and prosperity by 2030. We have completely incorporated the SDGs into our strategy, recognizing those that are most relevant to our business and evaluating their potential to support us leverage our contribution to the UN 2030 Agenda.
Our ESG goals are outlined in the bullets below:
  • Work towards decarbonization and achieving carbon neutrality by 2050.
  • Continue our research on energy efficiency and alternative fuels and technologies.
  • Establish partnerships with key stakeholders to promote sustainable development.
  • Ensure perfect compliance with regulations at sea, prevent negative impacts on marine biodiversity by avoiding water pollution, ensuring proper waste management and ballast water management and treatment.
  • Fully comply with regulatory demands to reduce air emissions impacts and continue investing in maintaining and implementing solutions that will enable this.
  • Promote circular economy principles by implementing policies fostering 3R concept.
  • Training of both ashore and onboard personnel on decarbonization awareness and actions to take place.
  • Work further on digitalizing company processes and devising the tools that shall foster the decarbonization process on a transparent and block-chain ready concept.
We have completely incorporated the SDGs into our strategy, recognizing those that are most relevant to our business and evaluating their potential to support us leverage our contribution to the UN 2030 Agenda.


We are actively pursuing membership in industry associations and committees in order to contribute to the progress of the shipping industry via the exchange of expertise, as well as the support and promotion of sustainability and environmental concerns.

In 2020 Danaos became a member of the Global Maritime Forum (GMF), adhering to the Getting to Zero Coalition statement.

We have also been members of the Ammonia Energy Association (AEA) since July 2020, attending meetings and staying up to speed on all the latest advancements in the usage of ammonia in the marine sector.

Danaos was enrolled, on a voluntary basis, in the Environmental Ship Index (ESI) system, which is developed by the World Ports Sustainability Program (WPSP), as it is considered an extra tool for evaluating our vessels’ environmental performance and an instrument for contributing to our clients’ sustainability policy, improving the maritime and port environment. On a voluntary basis, ship owners register their vessels in the ESI database and their ESI score is calculated. The index is then used by ports and other incentive providers to reward cleaner vessels but can also be used by shippers and ship owners as their own promotional instrument.
We support the Poseidon Principles that help banks align their shipping loans with climate goals as set by the IMO. Signatory banks measure the carbon intensity of their shipping loans, relying on the global Data Collections System for fuel oil Consumption by ships (“IMO DCS”) and publicly report how their shipping loans align to the climate goals. As a result, banks can focus on financing “green” assets, such as vessels with technologies that allow for low GHG emissions. In 2023, 44% of Danaos fleet already complied with the Poseidon Principles, that is 110% increase of the percentage of fleet complying with the Poseidon Principless compared to the previous year!

Climate bond initiatives are also explored to verify fleet’s compliance. We also work with Science Based Targets (SBTi) and the Methanol Institute (MI) and plan to proceed with further commitment, in the view of recently launched sectoral trajectories for the maritime sector that enables to set near-and long-term science-based emission reductions targets in line with 1.5°C.

It is also important to mention that in view of the EU taxonomy regulation that sets a clear framework classifying environmentally sustainable economic activities. Danaos will take a first step to identify the eligible activities that are covered by the taxonomy, and subsequently we shall identify the % of alignment of Danaos economic activities according to the technical screening criteria developed by the EU.


Stakeholder engagement helps us to proactively consider the needs and desires of anyone who has a stake at Danaos. This is fostering connections, trust, confidence, and buy-in for our key initiatives. When it comes to our strategic planning, stakeholder engagement is critical. Danaos established a Stakeholders Engagement Policy to leverage the relationships with the stakeholders.

An ongoing dialogue with our stakeholders is of paramount importance so that through our actions and targets we can fulfill their needs and concerns. Moving forward, we are regularly developing full materiality assessments in which

stakeholders are asked to map out sustainability issues according to their importance. In determining if an issue is material, we consider our impacts across the value chain through the involvement of our main stakeholders. We update our assessment each year to make sure it reflects changes in our business and the external environment. In addition, we have initiated a customer satisfaction survey to gauge communication with this very important stakeholder. Addressing each issue related to the ESG (environmental, social and governance) factors enables us to design a sustainability strategy accordingly and defines our reporting.