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Mandatory biennial “Doing Business with Integrity” training is provided to all shore-based personnel.
They also receive mandatory annual online training on Teekay’s Standards.
Our commitment to integrity extends across our fleet, and our vessel Masters receive compliance training on risk-relevant issues such as port-based corruption.
Risk Assessment & Audit To properly structure our compliance program and to monitor business ethics risks, Teekay performs regular risk assessments.
These risk assessments assist Teekay in identifying existing and emerging risks and prioritizing a proportionate response to these risks.
Leadership Teekay recognizes that an effective integrity compliance program requires a healthy corporate culture of active ethics that is supported by a strong tone from the top that resonates throughout the organization.
At Teekay, we believe ‘Everyone is a Leader’.
This means that doing business with integrity is embraced by everyone as a shared leadership responsibility.
We measure and monitor our integrity performance through various key performance indicators, which include: Hotline complaints: Teekay operates a confidential and anonymous reporting tool for suspected violations of Teekay’s Standards.
In and resolved or closed within 180 days of being reported in accordance with our objective.
Maintaining a strong ethical culture at Teekay is the cornerstone of our compliance efforts.
In received virtual ‘Doing Business with Integrity’ training in a format allowing for questions and answers.
These results were in line with our objective of achieving at least a completion rate.
In survey agreed that Teekay’s management actively support integrity.
Again, these results were consistent with our objective to have that Teekay’s management supports integrity.
In Anti-Corruption Network (MACN) to reduce port corruption risks, follow-up on actions from our internal ethics survey, and focus on realigning Teekay’s risk, audit, and compliance services following the sale of Teekay LNG.
GOVERNANCE We believe good corporate governance is critical to maintaining the trust of our customers, staff, partners, and capital providers, including banks, leasing houses, and credit and equity investors.
Teekay’s Boards of Directors oversee our environmental, social, and governance performance.
The corporate governance guidelines for Teekay Corporation and Teekay Tankers include responsibilities for Board oversight of our sustainability commitments and performance.
The Boards receive regular updates on sustainability matters, including quarterly reporting on progress in meeting our annual and longer-term ESG targets.
At each meeting, the Boards review and discuss Teekay’s health, safety and environmental performance and its performance on sustainability and diversity efforts.
Support a precautionary approach to environmental challenges We have built our company on a deep commitment to responsible safety and environmental practices.
Our HSEQ policy establishes our commitment to meet and exceed all environmental requirements and to operate sustainably by preventing pollution, striving for zero spills, and minimizing emissions that impact the environment.
and we require our contractors and suppliers to implement similar environmental management programs.
Promote greater environmental responsibility Sustainability is one of our core values and ensures the long-term health and success of our people, our business, and the surroundings we work in.
Over the coming years, we intend to further strengthen our Environmental, Social and Governance (ESG) commitment and performance as we work towards our vision of being the most trusted shipping company.
Encourage environmentally friendly technologies eekay is a leader in environmentally friendly technologies.
We were the first company in the world to order a MEGI-powered newbuild LNG carrier and our latest LNG carriers produce about to earlier generations of steam-powered LNG carriers.
The majority of our LNG fleet uses more environmentally friendly LNG as a fuel and across our crude/product tanker fleet, we made the decision to adopt low-sulphur fuel instead of installing scrubbers to comply with the IMO 2020 standards.
To support decarbonization in the shipping industry, we are also embarking on new industry partnerships to drive necessary technological developments.
Work against corruption in all its forms We take a zero-tolerance approach to bribery and corruption and are committed to acting professionally, fairly and in an honest and ethical manner in all our business dealings and relationships.
Mandatory business ethics training is provided to all shore-based personnel and our seafarers receive training through our onboard Quality Assurance Training Officers (QATO) program.
Teekay is a member of The Maritime Anti-Corruption Network (MACN).
TEEKAY’S COMMITMENT TO THE UNGC TEN PRINCIPLES Human Rights 1.
Respect human rights Our Standards of Business Conduct are an extension of our Core Values and reflect our continued commitment to manage our business activities with integrity.
We treat people fairly and respect human rights.
We take allegations seriously and address all such concerns that are raised regarding these policies.
We recognize that doing the right thing means ensuring that our business suppliers and partners share our commitment to uphold business ethics.
Teekay reviews new business partners through a compliance due diligence system and rejects any partners that present an unacceptable risk.
We also expect our subcontractors to promote workplaces that are free of human rights violations.
Uphold freedom of association and the right to collective bargaining We respect the right of employees to join associations and choose representative organizations for the purpose of engaging in collective bargaining in a manner consistent with applicable local laws, rules, and regulations.
A significant portion of our seafarers are employed under collective bargaining agreements.
Maritime Labour Convention, and Workplace Behavior Standard (Internal) 4.
We have a zero-tolerance approach towards slavery, forced labour, human trafficking, and child labour.
We have implemented a program to provide reassurance that modern slavery is not taking place within our company or supply chain.
We are committed to creating a workplace where everyone is treated with respect and dignity.
We do not tolerate discrimination or harassment in the workplace or work-related situations, and we investigate any reported violation of our policy.
Workplace Behavior Standard, and Onboard Complaints (Internal) Teekay Corporation and Teekay Tankers are participants of the United Nations Global Compact, the world’s largest corporate sustainability initiative.
We are proud to support the UN Global Compact, reinforcing our group’s deep, long-standing commitment to responsible safety and environmental practices.
We are fully committed to further advancing sustainability and responsible business practices in order to meet the growing expectations of our stakeholders and global society as a whole.
In my letter last year, I said that two important ESG issues for the tanker and broader maritime industry were to support crew welfare and to continue efforts to reduce greenhouse gas emissions.
Across Teekay Tankers, we made significant progress on both of these goals this past year, and I’m pleased to share our activities and results in this year’s report.
At sea, the situation for our seafarers is improving, although the challenges for our sea staff are not yet over.
More countries have now opened to allow crew changes, although some are only allowing transfers for fully vaccinated seafarers.
We are continuing all our precautions for seafarers while embarking or disembarking from vessels, including PCR testing prior to joining.
In addition, with the increased availability of vaccines, we have encouraged our seafarers to be fully vaccinated prior to joining, and as of December seafarers were fully vaccinated.
I want to thank everyone at sea and on shore for their dedication and support in managing the ongoing challenges created by the pandemic while ensuring minimal impact on our operations.
This past year, we were also active in testing and implementing several new initiatives to improve the energy efficiency of our fleet and reduce greenhouse gas emissions.
Our entire fleet, except for a few vessels, is now coated with high-performance silicone hull paints and we continue to install Mewis Ducts on our ships, which helps reduce drag and improve propulsion efficiency.
After successfully pilot testing an ultrasonic propeller cleaning tool in on more than twenty vessels in our fleet in 2021, and we have identified further vessel efficiency upgrades for 2022.
While further environmental performance improvements will remain a top priority, we must also never lose focus on what matters most—the safety and wellbeing of our people.
Therefore, this past year, we made several enhancements to our safety management system, and I am pleased to highlight that the trajectory of our safety metrics continued to improve year-on-year in 2021.
The future sustainability of the maritime industry also depends on developing the next generation of skilled maritime leaders.
To support this, we continue to evolve our recruitment strategy with a focus on maritime university graduates, while also providing sponsorship opportunities for government and industry interns and trainees.
This past year has been another challenging year for our seafarers and for the tanker market.
But the outlook for both is improving and I believe Teekay Tankers is well-positioned for the future, with a strong financial position, an industryleading reputation, and an experienced and dedicated team both at sea and on shore.
Thank you again, and I am proud to work together to operate the best ships in the industry.
, our vision is to be the world’s leading tanker brand and we take pride that the Teekay logo on our funnel is an industry-respected symbol of quality.
As a true owner, we manage our vessels directly through in-house ship management, employing over aboard our fleet.
Flawless customer service is achieved through the dedicated contribution of our employees.
Our focus on the human element has encouraged staff to stay with the company.
To promote diversity on shore and at sea, we are committed to offering equal employment opportunities with transparent career paths.
We have adapted our recruitment strategy in recent years with a focus on female maritime university graduates and sponsorship of government and industry female interns and management trainees.
In sponsored interns (two female and one male) and employed two female maritime studies graduates; one in our ship management team and one as a Management Trainee.
We are also active in both government and industry forums involving employee engagement, flexibility, wellness and gender equality and diversity in shipping.
In participated in the shipping industry Diversity Study Group and have since signed on as a member from the beginning of 2022.
Teekay Tankers Employee Facts SAFETY AND SECURITY Safety During the past year, we made several innovations and enhancements to our safety management system.
Converting to the Lovoy format has made our procedures more concise, and thus has led to a reduction in the size of our safety management system.
We have also implemented several new initiatives, such as a revised risk assessment form with an embedded database of risks for ease of reference by our seafarers, and an improved semi-automated Permit-ToWork form, which consists of dedicated risk assessments for various types of work onboard.
To strengthen our onboard training and audit capacity, this past year we merged our training and internal audit programs into a new Fleet Training Officer (FTO) program.
All audits and training for Teekay Tankers’ vessels are now being conducted and completed by our dedicated FTOs.
In Teekay Tankers, we pursue safe operations from all aspects, such as maintaining a system that aims for zero incidents, implementing new initiatives and safety campaigns, and fostering our personnel development to continue to build an inclusive and empowered team.
As our safety culture evolves, by identifying and resolving unsafe acts and conditions, and by harnessing the potential of advanced tools like information and communication technology, our goal is to break the error chain before an incident ever occurs.
In tanker fleet, which included two minor allisions and one Lost Time Injury (LTI).
In each case, the incident was thoroughly investigated, and the lessons learned from the incident were shared with all vessels to further enhance the safety culture onboard.
1 Based on SASB definition of reportable marine casualties.
In reality training to improve the effectiveness of our lock-outtag-out procedures, after successfully piloting the system in 2021.
Further steps to strengthen our safety culture will be through sharing of information and best practices in our quarterly Teekay Tankers bulletin, the “TNK SPOT”.
Lastly, senior leadership engagement with our colleagues on board is vital, and continuing in care for our seafarers and support greater leadership from everyone on board and on shore in Teekay Tankers.
Security The International Ship and Port Facility Security (ISPS) Code was adopted by the IMO in December heightened concern over worldwide terrorism.
The objective of the ISPS Code is to enhance maritime security by detecting security threats to ships and ports and by requiring the development of security plans and other measures designed to prevent such threats.
Continually monitoring global maritime security risks and preparing our vessels and crews to respond effectively to any threat is at the core of our security program.
In view of the dynamic global security situation, each vessel in our fleet completed a ship security assessment in 2021.
Each Ship Security Plan was also reviewed to ensure it was fit-forpurpose and aligned with the security assessment.
The ever-evolving global security situation is communicated to all vessels through a weekly security summary, and quarterly through the TNK SPOT bulletin.
Each year, all our vessels participate in a fleet-wide security exercise based on a realistic scenario for a duration of hours.
This exercise was successfully completed in with the active participation of all vessels and IFC (Singapore Navy).
The learnings from this exercise have been shared and will be utilized in case of a real emergency.
Teekay Tankers continues to invest in energy efficiency.
Closely monitoring and optimizing vessel efficiency remains a priority.

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