Flex LNG - 2023 Annual ESG Report
Flex LNG released its 2023 Annual ESG Report, the sixth since 2018.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Flex LNG released its 2023 Annual ESG Report, the sixth since 2018. The report aligns with the SASB Maritime Transportation Standard and GRI, highlighting significant advancements in Environmental, Social, and Governance (ESG) aspects.
Notably, fleet emissions were reduced by ~7% (tonnes CO2) compared to 2022, achieving a Lost Time Injury Frequency (LTIF) of 0.33. The company reported zero spills or environmental releases in 2023.
Flex LNG disclosed climate risk management strategies to the CDP, earning a 'B' rating, an improvement from 'B-' in 2022. The company views this as an incentive to enhance its decarbonization efforts.
Positive
- Reduced fleet emissions by ~7% compared to 2022.
- Achieved an LTIF of 0.33.
- Reported zero spills or environmental releases in 2023.
- CDP rating improved from 'B-' in 2022 to 'B' in 2023.
Negative
- No specific financial gains or profit margins improvement reported.
- No concrete future targets for emissions reduction provided.
Details
News Market Reaction – FLNG
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The report has been prepared in accordance with the Sustainability Accounting Standards Board's (SASB) Maritime Transportation Standard (2023) and with reference to the Global Reporting Initiative (GRI). The SASB standard allows the Company to identify, manage and report on material ESG topics with industry specific performance metrics.
Key ESG accomplishments for the Company in 2023 include reduced fleet emissions with ~
In addition, the Company has also disclosed how it monitors climate risks and strategically manage its impact to the CDP, a non-profit organization aiding investors and companies globally in ESG disclosure. Flex LNG received a "B" rating from CDP in 2023, an improved score compared to the "B-" rating achieved in 2022. The Company views this score as an incentive to implement additional measures and expand its current programmes, such as those forming part of the Company's decarbonization journey.
The ESG report attached is also available on our website www.flexlng.com
For further information, please contact:
Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management AS
Telephone: +47 23 11 40 00
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/flex-lng/r/flex-lng---2023-annual-esg-report,c3986968
The following files are available for download:
Flex LNG - ESG Report 2023 |
View original content:https://www.prnewswire.com/news-releases/flex-lng---2023-annual-esg-report-302154209.html
SOURCE Flex LNG
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