© 2023, Union Maritime

Union Maritime’s environmental, social, and governance strategy reflects its dual ambitions to be a global leader in sustainable shipping and to maintain the highest standards of corporate citizenship; by serving, protecting, and enhancing the communities in which it operates.

Environmental Shipping

As as a leading global shipping company, we have a crucial role to play in environmental shipping. Our commitment is reflected in various initiatives.

  1. Fleet efficiency: An efficient fleet consumes less fuel. We are constantly investing in our vessels and vessel-management capabilities to optimise performance through, for example, energy-saving technology and improved data collection. We are also developing our people and the systems necessary to enable and enhance environmental data analysis.
  2. Decarbonisation: We aim to beat the IMO’s updated GHG reduction targets, including the reduction of absolute emissions by 20% by 2030 (compared with 2008 level), and by sourcing at least 5% of energy requirements from low- or zero-GHG sources by 2030. Those goals are served by fleet efficiency and by an ambitious fleet evolution program: we are driving industry standards and performance by replacing inefficient tonnage with newer, more efficient vessels, with innovative environmental technology (including wind power and new/alternative fuel capabilities).
  3. Research and development: We have industry leading experts, as well as partnerships with industry leaders, to develop and execute operational, technical, and commercial solutions to facilitate the transition to low- and zero-carbon shipping.
People and Communities

Union Maritime’s commitment to its people and to the wider communities in which it operates manifests in various policies and initiatives.

  1. Union Maritime’s people: We have an uncommonly diverse team, both ashore – across our global offices – and onboard our ships. That diversity is supported by an inclusive culture and integrated systems and processes: we are closely-connected, working together toward unified goals. We also have an ambitious program of career-long learning and development opportunities, and constantly strive to ensure optimal working conditions.
  2. Ship safety: As a shipowner and operator, ship safety is paramount. We have robust policies and practices across the fleet, and work with top-tier vessel managers to maintain the highest standards of safety, whilst also constantly looking for scope for further improvement.
  3. Charity: In 2023 Union Maritime launched a charitable foundation – the Tetra Foundation – which provides (and fully funds) education and vocational training for aspiring seafarers in Nigeria. Our aim is to serve our community in Nigeria – where youth and wider unemployment is a significant and growing problem – by providing an opportunity to gain globally-recognised seafarer qualifications, which can then provide the foundation for a career in the shipping industry. We have bold ambitions for the Foundation: it is headquartered in the UK – as a charitable initiative currently seeking registration with the Charity Commission – and we aim to secure funding from across the industry with a view to maximising training opportunities.
Governance

We are committed to conducting our business in accordance with the highest standards of governance and corporate citizenship, and in a way that enhances both our reputation in the market and the reputation of the wider shipping community.

  1. We have clear and robust management and reporting structures, designed to ensure rigorous and transparent application of policies – including in respect of environmental shipping and corporate citizenship – across the organisation. We also have a dedicated ESG Committee, which reports into the Management Team, and which has responsibility for monitoring and developing our ESG strategy to ensure ESG remains at the centre of our strategy and operations. 
  2. We appreciate the critical importance of compliance with laws and regulations, including on sanctions, bribery, and money-laundering. We have a team of legal and compliance experts which monitors, analyses, and ensures adherence to relevant rules across our global activities.
  3. We maintain a comprehensive range of internal policies, designed to ensure the wellbeing and development of our people, and that they meet the high standards of business conduct required under this ESG strategy.
  4. We are also exploring ways to help our counterparties and suppliers conduct their businesses responsibly, to further promote our ESG ambitions.