Philly Shipyard Releases Its First Sustainability Report

Rhea-AI Summary

Philly Shipyard (Oslo:PHLY) has released its first Sustainability Report, titled 'Building with Passion, Navigating with Purpose'. This inaugural report outlines the company's commitment to responsible environmental, social, and governance (ESG) practices in the maritime industry.

The report highlights:

• Baseline data collection and progress measurement efforts
• Key stakeholder engagement, including customers, employees, and suppliers
• Environmental stewardship initiatives
• Adoption of advanced technology for building greener ships
• Workforce and recruitment strategies centered around 'CORE' values
• ESG disclosures on waste recycling, greenhouse gas emissions (Scope 1 and 2), energy use, health and safety, diversity, equity and inclusion, and supplier responsibility

Steinar Nerbovik, President and CEO, emphasized the company's commitment to building a sustainable future, while Kelly Whitaker, VP of Sustainability and Communications, highlighted the ongoing nature of their sustainability efforts.

The inaugural report details the company's commitment to responsible environmental, social and governance practices.

PHILADELPHIA, PA / ACCESSWIRE / September 17, 2024 / Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo:PHLY), published its first Sustainability Report describing its sustainable and ESG governance practices. The report outlines the achievements, strategies and benchmarks that are guiding PSI toward being environmental stewards in the maritime industry.

Titled "Building with Passion, Navigating with Purpose," the report is a key milestone in the Sustainability / ESG program as it showcases the progress PSI has made with building and collecting baseline data and its efforts to begin measuring progress. The Sustainability Report highlights and establishes a first-look at key stakeholders, including customers, employee workforce and suppliers, as well as environmental stewardship efforts, and the adaptation to advanced technology for building greener ships.

"This is both an exciting milestone and a significant waypoint for our company," said Steinar Nerbovik, President and CEO, Philly Shipyard, "as we set forth our commitment to building a more sustainable future. At Philly Shipyard, we recognize that sustainability is an ongoing journey - and it's one that we are navigating with a deep sense of passion and purpose."

The Sustainability Report details Philly Shipyard's progress in partnering with its clients as they embark on building tomorrow's fleet of sustainable and efficient vessels. PSI also shares its commitment to people, with workforce and recruitment strategies centered around its "CORE" values that work to maintain a safe and welcoming environment for all.

"Sustainability is not checking boxes to us - it's an ongoing promise to our people and our planet," said Kelly Whitaker, Vice President, Sustainability and Communications, Philly Shipyard. "As long as we keep challenging ourselves to evolve and be a little bit better every day, we're on the right track for a more sustainable tomorrow."

The report includes disclosures on ESG issues most important to its stakeholders, including waste recycling, greenhouse gas emissions (Scope 1 and 2), energy use, health and safety performance, diversity, equity and inclusion, supplier responsibility and code of conduct. Learn more and read the full Sustainability Report here.

About Philly Shipyard

Philly Shipyard, Inc. (PSI) is a leading U.S. shipbuilder that is presently pursuing a mix of commercial and government work. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as a preferred provider of oceangoing merchant vessels with a track record of delivering quality ships, having delivered around 50% of all large ocean-going Jones Act commercial ships since 2000. PSI is the sole operating subsidiary of Philly Shipyard ASA. Philly Shipyard ASA is listed on the Oslo Stock Exchange (Oslo: PHLY) and is majority-owned by Aker Capital AS, which in turn is wholly-owned by Aker ASA (Aker). Aker is an industrial investment company that exercises active ownership to create value. Aker has ownership interests in oil and gas, renewable energy and green technologies, maritime assets, marine biotechnology and industrial software, and its portfolio includes companies like Aker BP, Aker Horizons, Aker BioMarine, Cognite, and Aker Solutions.

For more information about Philly Shipyard, please visit www.phillyshipyard.com.

Media & Investor Contact:

Philly Shipyard, Inc.
Qurana Moody
215-875-8863
qurana.moody@phillyshipyard.com

SOURCE: Philly Shipyard, Inc.

View the original press release on accesswire.com

FAQ

What is the title of Philly Shipyard's first Sustainability Report?

Philly Shipyard's first Sustainability Report is titled 'Building with Passion, Navigating with Purpose'.

When did Philly Shipyard (AKRRF) release its inaugural Sustainability Report?

Philly Shipyard released its inaugural Sustainability Report on September 17, 2024.

What key areas does Philly Shipyard's Sustainability Report cover?

The report covers environmental stewardship, stakeholder engagement, workforce strategies, ESG disclosures, and the use of advanced technology for building greener ships.

What specific ESG issues does Philly Shipyard's report address?

The report addresses waste recycling, greenhouse gas emissions (Scope 1 and 2), energy use, health and safety performance, diversity, equity and inclusion, supplier responsibility, and code of conduct.

How does Philly Shipyard describe its approach to sustainability in the report?

Philly Shipyard describes sustainability as an ongoing journey and a promise to its people and the planet, rather than just checking boxes.