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Scorpio voluntarily adheres to the US Coast Guard Environmental Compliance Program (ECP), a reporting system that performs internal and external compliance audits.
In order to train and audit the ship and shore staff, we have formed - SECAT – Scorpio’s Environmental Compliance Audit and Training team.
Given the nature of our industry, we are subject to regulatory requirements that often shape our approach and consideration.
These requirements cover all aspects of our business, especially those pertaining to environmental protection and the safety of our people.
The Board considers thoughtfully the reports of its committees, ensuring a comprehensive view of the business and potential environmental and safety concerns.
The REGULATORY AND COMPLIANCE COMMITTEE oversees our operations to minimize the environmental impact by the constant monitoring and measuring of progress of our vessels.
In an effort to improve our data collection, and therefore, an understanding of our impact, the Quality Assurance team is in the process of implementing a formal environmental reporting system equipped with software that aggregates data automatically from our fleet.
Environmental Policy We recognize environmental protection and management as one of our highest priorities and that every effort shall be made to conserve and protect the environment from marine, atmospheric and other forms of pollution, including officebased waste.
KYC processes are also important as risk mitigation measures, in that they endeavor to prevent damage to Scorpio’s business, cash flows, and reputation.
We are also committed to reduce the environmental impact of our operations.
We consistently stress the need for open and transparent reporting to our ship staff, and our efforts have yielded reports more accurately reflective of the operating environment and consequently an increase in near miss reports.
Investing in Exhaust Gas Cleaning Systems “Scrubbers” on a majority of our fleet.
Our Planet As a shipowner with one of the largest fleets in the world, Scorpio is committed to reducing its ecological footprint and accordingly, our approach is to embrace a proactive policy towards environmental regulations.
The entire fleet of Scorpio Bulkers, Inc. is comprised of modern “eco” vessels specially designed to minimize environmental impact.
Besides adhering to the US Coast Guards Environmental Compliance Program (ECP), a voluntary reporting system that performs internal and external compliance audits, Scorpio is affiliated with NAMEPA and Trident Alliance.
Climate and Environment The two most widely-accepted efficiency metrics in our industry are the EEOI (Energy Efficiency Operational Indicator) and the EEDI (Energy Efficiency Design Index).
While for worldwide fleet the first IMO GHG reduction goal will be a carbon intensity reduction by 2030, for drybulk carriers the IMO is considering to mandate a 20% increase in carbon design efficiency by 2030 from a calculated phase 0 baseline figure.
Taking current commercial trading patterns into account, further operational GHG reductions including voluntary power limit bring the Scorpio Bulkers fleet EEXI figures to approximately 2030 IMO expected mandate.
Please bear in mind, Direct GHG emissions and, vessel waste and energy consumption are highly correlated to commercial trading patterns and fleet size.
From our inception, Scorpio Bulkers has been cognizant of both the economic and environmental benefit of employing fuel-efficient vessels to meet the needs of our customers.
We take great pride knowing that our vessels are fully compliant with upcoming regulations so that we may continue to seamlessly serve our customers while reducing our environmental impact.
The core measure for comparing the relative efficiency of the world’s fleet is grams of emitted CO2 per ton mile.
In order to determine a vessel’s efficiency, the IMO use EEDI (Energy Efficiency Design Index).
Signifying the importance of a transition to a low-carbon economy, RightShip’sGreenhouse Gas Emissions Rating (GHG Rating) has also been widely adopted by the maritime industry to measure and recognize the relative CO2 output of individual vessels.
In order to maintain oversight over our environmental management systems, we have established the Scorpio Environment Compliance Audit and Training team (SECAT).
In addition to SECAT, another group focused on energy, fleet support, and other environmental issues reports to our Board of Directors.
1 RightShip is a leading maritime risk management and environmental assessment organization with the mission to improve the safety and environmental sustainability of the maritime industry.
We started discussing this opportunity last summer (as part of an initiative - led by Optimum - on waste reduction.
The original idea was to purchase equipment that would produce drinkable water through osmosis and filters.
The result is a managed service water system where the cost of the water is reduced and the volume of available drinking water is increased.
Open reporting At Scorpio we encourage our seafarers to speak up on unsafe practices, undesirable conditions and unacceptable behaviors which affect safety, environment and wellness.
Seafarers are, at the same time, the major guarantee and contributor to a safe maritime transportation; their physical and psychological health directly concerns the safety of human lives, property, and the marine environment.
Diversity and Inclusion As a global company, one of our strategic advantages is the diversity of our employees.
We are proud of our diversity, and we seek to provide an inclusive environment for all of our employees.
Topics include new developments at the company and in the industry, legislative changes, ship staff issues, recent incidents, and safety and environmental issues.
Maritime Resource Management: Training program proven to prevent accidents at sea that are caused by human and organizational errors.
Community Events/ Conservation Programs/ Partnerships In responsible activities.
Notably there was a drive to assist the flood victims in the state of Kerala, book distribution drives among underprivileged school children and a tree plantation drive.
Flood Relief The Indian state of Kerala witnessed catastrophic floods which destroyed lives, property and the livelihoods of many people.
GRI This report includes Scorpio Bulkers Inc.’s (“SALT”) approach to sustainability and corporate stewardship regarding environmental, social, and governance topics (“ESG”).
GRI GRI 304 Biodiversity 304-2 Significant impacts of activities, products, and services on biodiversity All SALT vessels have ballast water treatment systems installed.
Risks and uncertainties include, but are not limited to, the failure of counterparties to fully perform their contracts with Scorpio, the strength of world economies and currencies, general market conditions, including fluctuations in charter hire rates and vessel values, changes in demand in the drybulk carrier market...
These forward-looking statements are not guarantees of Scorpio's future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements Unless otherwise indicated, information contained in this report concerning Scorpio’s industry and the market in whic...
LETTER FROM OUR CEO WHO WE ARE OUR APPROACH TO A MORE SUSTAINABLE FUTURE RESPONSIBLE GOVERNANCE OPERATIONAL EXCELLENCE OUR PLANET OUR PEOPLE OUR COMMUNITIES Scorpio’s dedication to exceed environmental, health, and safety regulations has been recognized multiple times in the past years.
We sought and received external assurance from a third party with respect to certain emissions information reported in this Annual Summary.
We also report through programs such as CDP, a global environmental disclosure system.
As we celebrate Walmart’s us as we work to create environmental, social and economic progress in ways that strengthen our business and benefit our stakeholders.
And we continually push ourselves, which is why we elevated our aspiration by making a commitment to become a regenerative company—one that puts people and nature at the center of our business practices.
Last year, we promoted more than we continue to support and invest in them with job training, rising wages and by making it easier to gain a college degree or certificate by covering the costs of tuition and books through our Live Better U program.
When disaster strikes, we are there with food, water and helping hands—but we are there every day strengthening communities.
Our experience confirms for us that, when we understand what a community needs and partner with others, we can strengthen the environment to create more opportunities for the people who live there and end up with a stronger business.
This spring, we hit a major milestone with Project Gigaton™: We are halfway toward our goal to reduce or avoid one billion metric tons of greenhouse gases from the global supply chain by 2030.
Since than 574 million metric tons of emissions reduced or avoided.
Yet despite such challenges—or as much spurred on by them— we are more committed than ever to our efforts to become a regenerative company, one that puts humanity and nature at the center of our business practices.
In the pages of this year’s FYaccompanying ESG Issue Briefs, we share our aspirations, strategies, progress and challenges related to our priority environmental, social and governance issues.
Yet we are encouraged by emerging shifts in mindsets, practices, resource flows and policies within each of these arenas as well as progress within our own company.
In the lead up to COPGlasgow, many companies set goals to help the world get to net-zero emissions.
This year we reported that we continue to make progress toward our science-based targets for emissions reduction (for example, reporting a FY2021 relative to our 2015 baseline for Scope 1 and 2 emissions) and we significantly expanded our efforts and disclosures related to our nature goals.
This year, we have responded to investor requests for expanded disclosure in specific arenas (for example, public policy engagement; approach to nature).
We believe we maximize long-term value for shareholders by serving our stakeholders: delivering value to our customers, creating economic opportunity for associates and suppliers, strengthening local communities and enhancing the environmental and social sustainability of our business and product supply chains.
For example, the Real Estate team leads renewable energy initiatives and the People team leads human capital initiatives.
~of U.S. salaried store, club and supply chain management started their careers in hourly positions https://corporate.walmart.com/esgreport/esg-issues/human-capital https://corporate.walmart.com/esgreport/esg-issues/diversity-equity-inclusion https://corporate.walmart.com/esgreport/esg-issues/supplier-opportunity Human...
We seek to enhance diversity across all levels in the organization.
In the U.S., our wage structure reflects varied market rates associated with each role, our geographic footprint and our business format (e.g., Neighborhood Markets, Sam’s Clubs, Supercenters, eCommerce fulfillment centers and supply chain warehouses).
Our approach to hiring focuses on enhancing diversity and inclusion throughout the talent pipeline.
We aim to advance diversity, equity and inclusion in society, helping to tackle drivers of systemic disparities through complementary business initiatives and philanthropic investments.
https://corporate.walmart.com/esgreport/esg-issues/diversity-equity-inclusion Supplier opportunity Through sourcing, Walmart aims not only to delight our customers but also to provide opportunities for economic growth and development for the people who work throughout our supply chains, including our suppliers, the peo...
sq miles of ocean Sustainability Walmart seeks to transform our business and product supply chains to be regenerative.
In the following pages, we describe our approach to addressing issues and opportunities related to climate change, nature, waste and people working in product supply chains.
For example, our Forests Policy sets out our approach to tackling deforestation and approach to higher-impact categories of palm oil, pulp and paper, beef and soy.
Source RSPO-certified palm oil Host sustainable commodity summits: beef, row crops, tuna Encourage place-based sourcing projects Address animal welfare with suppliers Walmart U.S.
[$M] $ $450,000 $500,000 $550,000 $600,000 41.29 40.04 37.89 34.42 32.86 29.38 $559,151 $485,873 $523,964 $500,343 $514,405 $482,130 Climate change Walmart aims to galvanize collective climate action across the retail and consumer goods sector through our operational emissions reduction initiatives, supplier engagement...
Walmart periodically conducts a scenario-based climate risk assessment, which informs Walmart’s climate mitigation and adaptation strategies.
the way to achieving zero emissions in our operations by 2040.
We achieved a 2 emissions between our 2015 calendar year baseline and 2020.39 While scope 2 emissions in 2020 declined by 11% over 2019, 2020 scope 1 emissions increased by approximately 6% due primarily to increases in onsite refrigerant and transport fuel emissions.
To continue our progress, we are focused on renewable energy procurement, energy efficiency, refrigeration, transportation and stationary fuels.
ADVOCACY Walmart has a Board-adopted climate policy and advocates for climate policies that are consistent with achieving net-zero emissions by 2050 and fairly and equitably addressing the needs of all stakeholders.
Goal: Waste: Circular economy We aim to break the link between consumption and waste as part of a movement toward a more circular economy, aspiring to achieve zero waste41 to landfill or incineration in our operations as we work with suppliers, customers and communities to accelerate the adoption of circular packaging ...
Achieving zero operational waste in Canada, Mexico and the United States by in 2021.
Our efforts include addressing secondary packaging, unsold food and general merchandise, automotive waste and unused assets.
We are recycling corrugated cardboard, utilizing reusable packaging containers, recycling rigid plastics and plastic film, refurbishing fixtures, improving sell-through of food, donating food to food banks and other charities and converting food that is no longer edible to animal feed, compost or energy.
In collaboration with the Association of Plastic Recyclers, we developed the Walmart Recycling Playbook, hosted a the development of Plastic IQ, a scenario-modeling tool, used by over 170 companies that represent approximately 20% of all plastic packaging generated in the U.S. Addressing plastic bags: Walmart is undert...
Many of the products we sell are derived from or depend on nature.
We aspire to operate our business in a way that regenerates natural resources, with a goal to help to conserve, restore, or more sustainably manage at least miles of ocean by 2030.
Our nature initiatives focus on grasslands, forests and seascapes that have high value for nature, relate to our product sourcing footprint and afford opportunities for Walmart, our suppliers, or NGO collaborators to influence change.
SETTING PRIORITIES In have high value for nature, relate to our product sourcing footprint and afford opportunities for Walmart, our suppliers, or NGO collaborators to influence change.
SUSTAINABLE SOURCING As a retailer, we believe product sourcing can play a major role in achieving our nature goals.
We encourage our suppliers to source certain commodities— including palm oil and seafood—in accordance with certifications that support our nature-related goals.
We encourage suppliers to pursue nature initiatives and report on their progress, including through Project Gigaton™’s Nature pillar.
As of the end of FYreporting progress through the Nature pillar (for example, our fresh beef suppliers report implementing sustainable grazing management practices on over half a million acres).
https://corporate.walmart.com/policies#forests-policy https://corporate.walmart.com/policies#seafood-policy https://corporate.walmart.com/policies#sustainable-row-crop-position-statement https://corporate.walmart.com/policies#sustainable-row-crop-position-statement https://corporate.walmart.com/policies#walmart-u-s-pol...
We support conservation and restoration initiatives, primarily through philanthropy.
And in November a new public-private initiative designed to accelerate climate action by providing results-based finance to national and subnational jurisdictions committed to protecting and restoring their tropical forests.
We leverage our voice, convening power and strategic philanthropy to advocate for an enabling environment that supports our nature objectives.
Generator power allowed us to keep supply chain, fuel, health & wellness and other critical functions operating to support impacted communities.
We donated water and food, including America food banks in the area.
Cybersecurity: We work to ensure a secure environment through risk management, training and communication and incident management.
updated from time to time for changes in emission factors or activity data when more accurate information become available.
This may result in updated emissions reported in the ESG Climate Brief that may not correspond to results reported to CDP for our annual Climate Change questionnaire.
We engage Lucideon CICS to independently verify Walmart’s reported scope 2 emissions as reported to CDP annually, pursuant to ISO 140643 (the international standard for verification of Greenhouse Gas inventories).