Page 20 - 2022 - Q2 - Minerva in Focus

ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) IN SHIPPING
ESG Reporting: Identifying

sustainability issues and challenges

An organization’s sustainability report- Operational Excellence & Assurance and Busi-
ing process represents a comprehensive ness Relationships have been ranked high by
analysis of its strategy map, allowing In terms of Social Factors, Health & Safety “
both the internal and external stakeholders.
gaps to be identified and opportunities Minerva Gas conducted an
to be materialized. Central to sustaina- internal and external stake-
bility reporting is the identification of and Fair Labor Practices have been given
material ESG factors taking into consid- high priority by both stakeholder categories. holders’ survey and ranked the
eration their relevance to the business
strategy, business model, and key stake- Community Engagement, Responsible factors in the form of a ma-
holders. We have identified 18 ESG topics Supply Chain, and Research and Innovation teriality matrix.
that we consider important to our organ- have been given low priority by both stake-
ization that we feel would be of similar holder categories.
relevance to our stakeholders. In this ”
context, we conducted an internal and Regarding Environmental topics, Climate
external stakeholders’ survey (28 and Change & Environmental Stewardship ap-
59 respondents, respectively); based on pear to be of high importance for both the
their survey scores, we identified priori- internal and external stakeholders.
ty factors and ranked them in the form of
a materiality matrix. This exercise has helped us identify our
business and stakeholders’ primary areas
of interest. As we gear up for our future ESG
Summary findings reports, this will enable us to reevaluate
these objectives to ensure that our pro-
Governance factors like Anti-corruption and cesses align with our goals and the latest
Anti-bribery, Ethics & Regulatory Compliance, market developments.

by Dimitrios Petridis The results of this exercise are plotted on an x-y axis, demonstrating the significance of
LNG Commercial Manager Environmental, Social, and Governance impacts within our organization. The outer level of
Minerva Gas Inc. the plot is where the most relevant topics are displayed.

20 MINERVA IN FOCUS – ISSUE 20 / Q2 2022