Sustainable growth report 2023

Sustainable growth report 2023

This report covers our sustainability activities from 1 January to 31 December 2023 and is drafted in accordance with the ESG (Environment, Social, Governance) standard. In this report we start with Care for People (Social) , followed by Care for Environment and then Care by Governance.

This report and CSRD
As of 2024, the EU Corporate Sustainability Reporting Directive (CSRD) requires companies to report on their environmental and social impact activities. A set of European Sustainability Reporting Standards (ESRS) have been adopted by the EU to meet these requirements. Our CSRD reporting and ESRS have been incorporated in the reporting of HAL Investments. 
Moreover, we have the ambition to report annually on our ESG roadmap, our targets and our progress. This Sustainable Growth Report 2023 is the fifth in line.

Double Materiality Assessment
To take an essential first step towards CSRD compliance a double materiality assessment has been performed. Subsequently, it has been used to update our ESG roadmap and to focus our efforts on sustainability matters that are most relevant to us and our stakeholders.

Update ESG Roadmaps
An update is given on the progress made on the targets from the ESG roadmaps that we introduced last year. Some minor changes have been made to the roadmap itself.

The roadmaps show targets towards 2035, the indicators, process description and stakeholders. The roadmaps support us to make our initiatives on sustainability measures derived from the double materiality assessment clearer and more transparent.

We underscore the importance of the 17 United Nations’ Sustainable Development Goals (SDGs). These guide us in understanding our sustainability impact.
We concluded our impact on and contribution to 8 UNSDGs. In this report, we share our summary ESG roadmap and with each chapter the UNSDGs that impact the specific topic.

Emission reporting
For our emission reporting, we use the approach of ‘control by contract’ and we have used industry standards for conversion factors, see also the definition list in the appendices. Emissions for the year 2022 have been used as benchmark.  This year several calculation methods changed, in accordance with the new FuelEU regulations. The figures of 2022 have been adjusted in this report. This way the two consecutive years can be compared on a like-for-like basis. The definition list in the appendices specifies the changes between 2022 and 2023.

We report both on tank-to-wake (t-t-w) and well-to-wake (w-t-w) emissions for fuels. Our ambition to become net zero in 2035 are based on w-t-w. By doing so, we have better means to indicate the positive impact of reducing emissions due to the development and availability of sustainable marine fuels and on-board technologies.

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