Creating a sustainable tomorrow
Our ESG Strategy
At Navigator Gas, we foster a forward-thinking approach to ESG that prioritizes sustainability, resilience, and responsibility. Our ESG strategy is the cornerstone of our commitment to environmental stewardship, social responsibility, and governance excellence. We are dedicated to creating long-term value for our stakeholders while contributing positively to the communities and environments in which we operate.
Our Lighthouse Model
We visualize our ESG strategy through our Lighthouse Model, focusing on three key areas:
- Contributing to Net Zero Shipping: We are committed to the global effort to achieve net zero emissions in the shipping industry by 2050.
- Catalysing a Low-Carbon World: By investing in green energy and innovative technologies, we aim to reduce our carbon footprint and lead the way in sustainable maritime transport.
- Driving a Diverse and Inclusive Shipping Industry: We strive to build a workforce that reflects the diversity of the communities we serve and fosters an inclusive culture.
Materiality Assessment
Our ESG strategy is underpinned by a rigorous materiality assessment conducted in collaboration with external experts. This assessment identifies the ESG-related risks most relevant to our business and stakeholders. We ensure our strategy addresses the most critical issues by engaging with employees, clients, shareholders, regulators, and industry groups.
Our Material Issues
We have identified 20 material ESG risks, ranging from climate change and reducing emissions to corporate governance and diversity. These issues are prioritized based on their business criticality and importance to our stakeholders. Our approach ensures we focus on areas where we can make the most significant impact.
Common to many shipping companies, Navigator considers climate change and reducing emissions to be our most pressing material risks. Specific climate change risks are further outlined in our annual ‘20-F’ report to the United States Securities and Exchange Commission (SEC), and our board of directors is responsible for governing these risks.
Advancing the SDGs
Navigator Gas supports the United Nations Sustainable Development Goals (SDGs). We align our strategic initiatives with seven key SDGs, emphasizing our role in promoting sustainable development, economic prosperity, and environmental protection. Our efforts include facilitating the distribution of cleaner fuels like blue and green ammonia, enhancing gender diversity in our workforce, and maintaining high standards of corporate governance.
- (2) Zero Hunger: Navigator facilitates the distribution of ammonia which, as a fertilizer, contributes significantly to increasing agricultural yield worldwide.
- (5) Gender Equality: We are fully committed to ensuring that all roles at Navigator are open to anyone, regardless of their gender identity. We work hard to provide effective support to any member of our team to ensure they are empowered to succeed at all levels.
- (7) Affordable and Clean Energy: Our ships provide a vital link in the distribution and supply chain of liquified petroleum gas (LPG), recognized globally as an affordable and clean-burning energy source.
- (8) Decent Work and Economic Growth: The shipping industry is a crucial enabler of economic prosperity, linking the world’s major economic centers and providing emerging economies with access to critical materials and trade. Navigator is committed to providing a safe and secure working environment for all.
- (9) Industry, Innovation, and Infrastructure: We never stop improving, upgrading, and renewing our assets and infrastructure to ensure we remain a modern, forward-thinking, and responsible operator.
- (12) Responsible Consumption and Production: We measure, record, and analyze our impact on the environment and routinely report our performance through mandatory and voluntary reporting mechanisms. We are committed to our responsibilities and look for ways to exceed expectations.
- (14) Life Below Water: We have robust procedures in place to reduce the use of plastics across our operation, including our seagoing fleet. Our ships adhere to stringent counter-pollution and environmental protection measures throughout every voyage.
- (16) Peace, Justice, and Strong Institutions: Navigator is committed to preventing bribery and corruption across our operations, and we work hard to maintain the highest standards of trust among our customers and trade partners.
