Flex LNG - 2023 Annual ESG Report

Rhea-AI Summary

Flex LNG released its 2023 Annual ESG Report, the sixth since 2018. The report aligns with the SASB Maritime Transportation Standard and GRI, highlighting significant advancements in Environmental, Social, and Governance (ESG) aspects.

Notably, fleet emissions were reduced by ~7% (tonnes CO2) compared to 2022, achieving a Lost Time Injury Frequency (LTIF) of 0.33. The company reported zero spills or environmental releases in 2023.

Flex LNG disclosed climate risk management strategies to the CDP, earning a 'B' rating, an improvement from 'B-' in 2022. The company views this as an incentive to enhance its decarbonization efforts.

Positive

• Reduced fleet emissions by ~7% compared to 2022.
• Achieved an LTIF of 0.33.
• Reported zero spills or environmental releases in 2023.
• CDP rating improved from 'B-' in 2022 to 'B' in 2023.

Negative

• No specific financial gains or profit margins improvement reported.
• No concrete future targets for emissions reduction provided.

HAMILTON, Bermuda, May 23, 2024 /PRNewswire/ -- Flex LNG Ltd. ("Flex LNG" or the "Company") today release its 2023 Annual ESG Report. This is the sixth edition of our ESG report after the inaugural report in 2018 and contains key information about our commitment to the Environment, Social development, and Governance ("ESG") issues.

The report has been prepared in accordance with the Sustainability Accounting Standards Board's (SASB) Maritime Transportation Standard (2023) and with reference to the Global Reporting Initiative (GRI). The SASB standard allows the Company to identify, manage and report on material ESG topics with industry specific performance metrics.

Key ESG accomplishments for the Company in 2023 include reduced fleet emissions with ~7% compared to 2022 (tonnes CO2) and achieved an LTIF of 0.33. Furthermore, Flex LNG experienced zero spills or other types of releases to the environment in 2023.

In addition, the Company has also disclosed how it monitors climate risks and strategically manage its impact to the CDP, a non-profit organization aiding investors and companies globally in ESG disclosure. Flex LNG received a "B" rating from CDP in 2023, an improved score compared to the "B-" rating achieved in 2022. The Company views this score as an incentive to implement additional measures and expand its current programmes, such as those forming part of the Company's decarbonization journey.

The ESG report attached is also available on our website www.flexlng.com

For further information, please contact:
Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management AS
Telephone: +47 23 11 40 00

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/flex-lng/r/flex-lng---2023-annual-esg-report,c3986968

The following files are available for download:

https://mb.cision.com/Main/22886/3986968/2817719.pdf

Flex LNG - ESG Report 2023

 

View original content:https://www.prnewswire.com/news-releases/flex-lng---2023-annual-esg-report-302154209.html

SOURCE Flex LNG

FAQ

What are the key accomplishments in Flex LNG's 2023 ESG report?

Flex LNG reduced fleet emissions by ~7%, achieved an LTIF of 0.33, and reported zero environmental spills in 2023.

What rating did Flex LNG receive from the CDP in 2023?

Flex LNG received a 'B' rating from the CDP in 2023, an improvement from 'B-' in 2022.

How has Flex LNG's fleet emissions changed in 2023?

Flex LNG's fleet emissions were reduced by ~7% compared to 2022.

What does Flex LNG's LTIF indicate?

Flex LNG achieved a Lost Time Injury Frequency (LTIF) of 0.33 in 2023, indicating low injury rates.

Where can I find Flex LNG's 2023 ESG report?

The 2023 ESG report is available on Flex LNG's website and through the provided news links.