Seaspan Environmental
Seaspan recognizes its leadership position in the maritime transportation industry and recognizes the environment as a silent stakeholder. Seaspan’s environmental policy complies with all relevant industry environmental laws and regulations and develops strategies for each topic, prioritized by materiality. While addressing climate change, the company also considers other environmental impacts beyond those suggested by stakeholders.
Sustainable Financing
At Seaspan, we are committed to driving environmentally sustainable and climate-resilient development in our industry. To achieve this, ambitious investments are necessary to improve the environmental performance of our fleet. As a result, we have established a Sustainability-Linked Financing Framework (the “Framework”), which is aligned with the Sustainability-Linked Financing Principles published by the International Capital Markets Association (ICMA) in June 2020.
Seaspan’s sustainable financing supports our objectives through tailored structures based on carbon emissions, sustainability-linked charters, and ambitious decarbonization investment targets. This approach aligns our financial strategy with our long-term goals for reducing carbon emissions, and we continue to make positive progress on our key performance indicators for each sustainable financing initiative.
Material Environmental Topics
Material topics are the key economic, environmental, and social issues that matter most to an organization and its stakeholders. These are identified through a materiality assessment, which involves stakeholder engagement to understand their concerns and priorities.
Climate Change and CO2 Emissions
The reduction of green-house gas emissions and the ability to meet stricter climate-related regulations
Ecosystems and Biodiversity
Such as oil spills, loss of containers, reduction of plastic waste and invasive species
Other Air Pollution
Including, but not limited to: nitrogen oxides (“NOx”), sulfur oxides (“SOx”), and Particulate Matter (“PM”) emissions
Decarbonization Strategy
To meet and exceed the IMO’s GHG reduction targets, Seaspan has developed a decarbonization strategy based on four pillars:
Continuous Efficiency Improvement
Seaspan Action for Vessel Energy Reduction or “SAVER”, is Seaspan’s eco-vessel initiative aimed at improving the overall efficiency of the vessel, reducing fuel consumption and improving cargo loadability.
The result is lower fuel consumption and emissions per unit of cargo carried, which is important considering the expected high cost of alternative fuels and GHG emissions.
Transition Pathways
Seaspan’s CleanBlue initiative researches the viability of low and zero-carbon fuels and energy converters, such as battery, wind, heat recovery etc.
Seaspan is building an institutional knowledge vault to add value to discussions with customers and other strategic partners
Seaspan established a Technology Advisory Council (TAC) to address environmental challenges facing Seaspan and the industry, and to identify and access leading technology insights. The TAC advises and guides Seaspan’s Board and management on future technology strategies.
Fleet Insights
Seaspan continues to develop data systems and analytical capability, providing actionable insights and intelligence to be used for decision support and improved operational performance.
Market Based Initiatives
Seaspan considers all commercial and financial aspects through the transition, including revenue generation and value preservation of our assets.
These initiatives involve collaboration with customers and industry partners to develop practical solutions and offerings that enhance our value proposition, including work on sustainability-linked charters, carbon credits and taxes, and sustainability-linked financing.