Gearbulk ESG Report 2023 - Report - Page 15
ESG REPORT 2023
OUR ONGOING EFFORTS TO MANAGE THE IMPACT
Gearbulk proactively manages climate change due
to our signi昀椀cant actual and potential impacts on
the economy, environment, and people, including
adverse e昀昀ects on ecosystems, economies, and
human rights. The Company meticulously assesses
its activities and business relationships to identify any contributions to climate change, such as
greenhouse gas emissions from the 昀氀eet or indirect impacts through supply chain activities.
Gearbulk has established comprehensive policies and commitments regarding climate change,
aiming to reduce its carbon footprint and
contribute to global e昀昀orts to mitigate climate
change. To prevent potential negative impacts,
Gearbulk implements measures such as fuel e昀케ciency improvements, adopts cleaner technologies,
and optimises route planning to minimise emissions. In cases of actual negative impacts, Gearbulk
takes corrective action, cooperating with regulatory
bodies and stakeholders to mitigate and remediate
POTENTIAL AND ACTUAL IMPACTS
environmental harm.
The predominant emissions within our value chain
are categorised as direct emissions or Scope 1
Furthermore, the Company seeks to manage
emissions, originating primarily from the vessels
potential positive impacts by investing in sustain-
we own. These vessels utilise heavy fuel oil and
able practices and technologies that contribute to
marine gas oil, resulting in emissions of Carbon
climate change mitigation and adaptation. Gear-
Dioxide (CO₂), Sulphur Oxides (SOx), and Nitrogen
bulk tracks the e昀昀ectiveness of its actions through
Oxides (NOx). Additionally, decreased amounts
monitoring processes, setting goals, targets, and
of Methane (CH4) and Nitrous Oxide (N2O) are
indicators to evaluate progress. Lessons learned
released.
from this tracking are integrated into operational
policies and procedures to enhance climate change
CO₂, identi昀椀ed as a primary catalyst for climate
management practices continually.
change, represents a critical global challenge,
necessitating concerted e昀昀orts for reduction.
Additionally, Gearbulk engages with stakeholders
Although NOx and SOx are not classi昀椀ed as green-
to gather feedback and insights, ensuring that our
house gases, they adversely impact air quality,
actions align with stakeholder expectations and
habitats, and human health. Despite shipping being
contribute e昀昀ectively to climate change mitigation
acknowledged as one of the most energy-e昀케cient
e昀昀orts. Through these comprehensive approaches,
mass transport modes, the substantial volumes of
Gearbulk demonstrates its commitment to envi-
CO₂, NOx, and SOx emitted by the industry under-
ronmental sustainability and responsible business
score the signi昀椀cance of our emissions.
practices in the face of climate change challenges.
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