TEN Ltd. Announces the Release of its Third Environmental, Social and Governance Report for calendar 2023
TEN (NYSE: TEN) has released its third annual ESG Report for 2023, highlighting its sustainability initiatives and achievements. The report features the company's first application of double materiality methodology and integration with S&P Global Corporate Sustainability Assessment framework. Key achievements include a 19.60% reduction in fleet carbon intensity compared to 2008 through fleet optimization and deployment of dual fuel LNG vessels.
The report received independent assurance from CSE North America and follows GRI, SASB, and UN Sustainable Development Goals frameworks. TEN has adopted a net zero GHG emissions target by 2050 and joined the Maritime Anti-Corruption Network. The company has also enhanced its decarbonization strategy considering EU ETS regulation compliance.
TEN (NYSE: TEN) ha pubblicato il suo terzo Report ESG annuale per il 2023, evidenziando le sue iniziative e risultati in materia di sostenibilità. Il rapporto presenta l'applicazione della metodologia di doppia materialità da parte dell'azienda e la sua integrazione con il framework della S&P Global Corporate Sustainability Assessment. I principali risultati includono una riduzione del 19,60% nell'intensità di carbonio della flotta rispetto al 2008 attraverso l'ottimizzazione della flotta e l'uso di navi a combustibile duale LNG.
Il rapporto ha ricevuto una verifica indipendente da CSE North America e segue i framework GRI, SASB e gli Obiettivi di Sviluppo Sostenibile delle Nazioni Unite. TEN ha adottato un obiettivo di emissioni di gas serra nette zero entro il 2050 ed è entrata a far parte della Maritime Anti-Corruption Network. L'azienda ha anche migliorato la sua strategia di decarbonizzazione considerando il rispetto delle normative EU ETS.
TEN (NYSE: TEN) ha publicado su tercer Informe ESG anual para 2023, destacando sus iniciativas y logros en sostenibilidad. El informe incluye la primera aplicación por parte de la empresa de la metodología de doble materialidad e integración con el marco de Evaluación de Sostenibilidad Corporativa de S&P Global. Los logros clave incluyen una reducción del 19,60% en la intensidad de carbono de la flota en comparación con 2008 a través de la optimización de la flota y el despliegue de buques de combustible dual LNG.
El informe recibió una verificación independiente de CSE North America y sigue los marcos de GRI, SASB y los Objetivos de Desarrollo Sostenible de la ONU. TEN ha adoptado un objetivo de emisiones netas de gases de efecto invernadero de cero para 2050 y se ha unido a la Maritime Anti-Corruption Network. La empresa también ha mejorado su estrategia de descarbonización considerando el cumplimiento de las regulaciones de EU ETS.
TEN (NYSE: TEN)은 2023년 제3차 연례 ESG 보고서를 발표하며 지속 가능성 이니셔티브와 성과를 강조했습니다. 이 보고서는 회사의 첫 번째 이중 중요성 방법론 적용과 S&P Global Corporate Sustainability Assessment 프레임워크와의 통합을 특징으로 합니다. 주요 성과로는 2008년에 비해 함대 탄소 강도 19.60% 감소가 포함됩니다. 이는 함대 최적화 및 이중 연료 LNG 선박 배치를 통해 이루어졌습니다.
이 보고서는 CSE North America로부터 독립적인 검증을 받았으며 GRI, SASB 및 UN 지속 가능한 개발 목표 프레임워크를 따릅니다. TEN은 2050년까지 온실가스 배출 제로 목표를 채택하였고 해양 반부패 네트워크에 가입하였습니다. 회사는 또한 EU ETS 규정 준수를 고려하여 탈탄소화 전략을 강화했습니다.
TEN (NYSE: TEN) a publié son troisième rapport ESG annuel pour 2023, mettant en avant ses initiatives et réalisations en matière de durabilité. Le rapport met en avant la première application par l'entreprise de la méthodologie de double matérialité et son intégration avec le cadre de l'évaluation de la durabilité des entreprises de S&P Global. Les principales réalisations incluent une réduction de 19,60 % de l'intensité carbone de la flotte par rapport à 2008 grâce à l'optimisation de la flotte et au déploiement de navires à carburant dual LNG.
Le rapport a reçu une assurance indépendante de CSE North America et suit les cadres GRI, SASB et les Objectifs de développement durable de l'ONU. TEN a adopté un objectif de zéro émission nette de GES d'ici 2050 et a rejoint le Maritime Anti-Corruption Network. L'entreprise a également renforcé sa stratégie de décarbonisation en tenant compte de la conformité aux réglementations de l'EU ETS.
TEN (NYSE: TEN) hat seinen dritten jährlichen ESG-Bericht für 2023 veröffentlicht und dabei seine Nachhaltigkeitsinitiativen und -erfolge hervorgehoben. Der Bericht umfasst die erste Anwendung der doppelt relevanten Methodik des Unternehmens sowie die Integration in das Rahmenwerk der S&P Global Corporate Sustainability Assessment. Zu den wichtigsten Erfolgen gehört eine Reduzierung der Kohlenstoffintensität der Flotte um 19,60 % im Vergleich zu 2008 durch Flottenoptimierung und den Einsatz von dualen LNG-Schiffen.
Der Bericht erhielt eine unabhängige Prüfung durch CSE North America und folgt den Rahmenwerken von GRI, SASB und den UN-Zielen für nachhaltige Entwicklung. TEN hat ein Ziel für netto Null-THG-Emissionen bis 2050 angenommen und ist dem Maritime Anti-Corruption Network beigetreten. Das Unternehmen hat auch seine Dekarbonisierungsstrategie unter Berücksichtigung der Einhaltung der EU-ETS-Vorgaben verbessert.
- 19.60% reduction in fleet carbon intensity compared to 2008 levels
- Implementation of fleet renewal program with dual fuel LNG powered vessels
- Integration with S&P Global Corporate Sustainability Assessment framework
- Independent assurance received for second consecutive year
- None.
ATHENS, Greece, Dec. 12, 2024 (GLOBE NEWSWIRE) -- TEN Ltd. (“TEN”) (NYSE: TEN) (the “Company”), a leading diversified crude, product and LNG tanker operator, today announced that it has published its third annual 2023 Environmental, Social, and Governance (‘ESG’) Report.
The report emphasizes TEN’s robust sustainability platform, industry expertise, and strategic initiatives designed to achieve measurable results. Key aspects of the 2023 ESG report include:
- The inaugural application of the double materiality methodology, which assesses both the company's impact on the environment and society and the influence of external factors on the company's financial performance.
- The integration of information that form the basis for our Company’s participation in the S&P Global Corporate Sustainability Assessment (CSA), a widely recognized framework untiled by over 13,000 Companies worldwide, that enables organizations to benchmark and evaluate their performance across a broad spectrum of industry-specific economic, environmental and social criteria.
- Independent assurance for a second consecutive year in collaboration with the Center for Sustainability and Excellence (CSE) North America.
- The preparation of the report in line with the frameworks of the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the United Nations Sustainable Development Goals.
Notable achievements reflecting significant progress made over the year towards the Company’s ESG goals, include:
- Reduction of our fleet’s average carbon intensity by
19.60% compared to 2008 levels through the optimization of our existing fleet operations and our fleet renewal program with the deployment of two dual fuel LNG powered vessels. - The adoption of a net zero GHG emissions target by 2050 and the introduction of a target for the estimation of our Scope 3 emissions from key partners of our supply chain.
- The enhancement of our internal processes and decarbonization strategy by taking into account the implications of industry’s emissions compliance obligations under the framework of the EU ETS regulation.
- Our participation in the Maritime Anti-Corruption Network (MACN), a global business network working towards the vision of a maritime industry free of corruption that enables fair trade to the benefit of society at large.
Mr. George Saroglou, President and COO of TEN commented: “Sustainability and energy efficiency are at the helm of our operations, and we remain committed to integrating innovative solutions and advanced energy management strategies to further optimize our fleet’s operational efficiency while significantly reducing our carbon footprint.”
The full report can be accessed on the Company’s website in the link below:
2023 ESG Report
ABOUT TSAKOS ENERGY NAVIGATION
TEN, founded in 1993 and celebrating this year 31 years as a public company, is one of the first and most established public shipping companies in the world. TEN’s diversified energy fleet currently consists of 74 vessels, including three DP2 shuttle tankers, two scrubber-fitted suezmax vessels, two scrubber-fitted MR product tankers and five scrubber-fitted LR1 tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carries, totaling 8.9 million dwt.
ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Company
Tsakos Energy Navigation Ltd.
George Saroglou
President & COO
+30210 94 07 710
gsaroglou@tenn.gr
Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis
Markella Kara
+212 661 7566
ten@capitallink.com
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