Sustainability
We believe that reporting on our environmental, social and governance (ESG) performance is vital for maintaining the confidence of our stakeholders. Find out more about our approach to sustainability and ESG.
As a global company operating within the shipping industry, Saga Welco is exposed to and actively navigates a range of environmental, social and governance (ESG) challenges that include greenhouse gas emissions, potential spills, marine casualties, health and safety and human rights. We are determined to follow the highest standards and for us transparency is instrumental.
Reporting on our (ESG) performance is vital to maintaining the confidence of our stakeholders. For the past 5 years we have therefore consistently reported on our impact, and we are constantly evaluating and seeking to improve our performance on sustainability.
Our reports are prepared in accordance with the Marine Transportation Standard (2018) established by the Sustainability Accounting Standards Board (SASB) and reference the Global Reporting Initiative (GRI) Standards (2021) and Poseidon Principles. We measure, manage and report on material topics while keeping track and complying with regulatory changes, from the adoption of the Norwegian Transparency Act to the introduction of the International Maritime Organization’s (IMO) Carbon Intensity Indicator.
Voluntary initiatives
The Vancouver Fraser Port Authority EcoAction Program is a program for voluntary contribution protection of the natural environment in and around the Port of Vancouver. Shipping lines may by meeting voluntary industry best practices such as using technologies that reduce energy consumption, underwater noise and emissions. Saga Welco has been an active participant in this program the last years.
The Port of Los Angeles Vessel Speed Reduction Program (VSRP) aims to reduce particulate matters and emissions from ocean-going vessels by reducing their speed as they approach or depart the Port. Saga Welco is an active participant in VSRP. In 2023, Saga Welco had a compliance rate of 100 % (11 out of 11 port calls).
The Port of Vancouver’s ECHO (Enhancing Cetacean Habitat and Observation) Program aims to reduce the impact of commercial activity on at-risk marine life in British Columbia’s coastal waters. Saga Welco has voluntarily participated in the ECHO Program since 2014, when the program was initiated. The long-term goal of the ECHO Program is to develop and implement initiatives that lead to a measurable decrease in threats to whales resulting from shipping activities. To achieve this, the ECHO program focuses on reducing the underwater noise generated by vessels.
Saving Right Whales along the US Atlantic Coast The North Atlantic Right Whale is one of the most critically endangered whales in the world, with a population of as few as 360 individuals remaining. The US National Oceanic and Atmospheric Administration (NOAA) has mandated that vessels of a certain size reduce their speed to 10 knots or less in designated areas where the whales resides during periods of the year. At Saga Welco, we are committed to following these rules and regulations and contributing to the conservation of marine life, including the North Atlantic Right Whale.
Weather routing Saga Welco uses weather routing for all vessels. This solution massively enhances the safety for the ship and crew by efficiently avoiding bad weather. It also enables the vessels to utilize world’s current and weather systems to reduce sailing durations and reduce fuel consumption and thereby GHG footprint.
“Climate change is a major concern, facing both the shipping industry and society at large. The role of the shipping industry in achieving global greenhouse gas (GHG) reduction targets has come under increasing scrutiny from the industry itself and governing bodies across the world. 2023 marked the beginning of the International Maritime Organization’s (IMO) Carbon Intensity Indicator (CII) grading of ships above 5,000 DWT. 2024 marks the start of the EU Emission Trading System (ETS) for the shipping industry. From 2025 we get the FuelEU Maritime act which is a regulation which further aims to support the decarbonization of the shipping industry. From May 1st 2025 the Mediterranean sea is declared as a SECA zone and from the beginning of 2026 we will have to comply with the UK ETS, which is similar to the EU ETS, but for the UK. Saga Welco welcome these initiatives and is committed to meeting all new requirements.”
Trond Moe Hanssen - President & CEO – Saga Welco
