The Group has published the following documents to guide our actions and improve our performance in areas of Corporate Social Responsibility
CSR Reporting Framework and Scope
The CSR content on our website, in combination with the CSR section in our Annual Report, serves as a record of our main CSR (workplace, environmental and community) initiatives and performance, focusing on areas that are material to our business and stakeholders. Our CSR reporting follows the Hong Kong Stock Exchange's Environmental, Social and Governance (ESG) Reporting Guide which has been added to the Listing Rules as a recommended best practice. Our reporting also draws on the guidelines and principles of the International Integrated Reporting Council's International <IR> Framework, the United Nations' Global Compact and GRI.
The scope of the report covers environment, workplace and community initiatives that reduce our environmental impact, reinforce our class-leading safety culture and mitigate safety and environmental risks, enhance job fulfilment and promote responsible engagement within the communities where we operate.
Our CSR reporting focuses on the majority portion of our fleet which comprises owned and any finance-leased vessels that we control both commercially and technically. It is these vessels over which we have the authority to mandate and control Safety, Quality, Health and Environment (SQH&E) policies and actions. We also report on company-wide staff engagement initiatives and performance.
Our EEOI and other environmental and safety KPI data has been measured or calculated in accordance with industry standards, and has been audited by Lloyd's Register Quality Assurance for ISO9001, ISO14001 and OHSAS18001 certification.
The Chief Executive Officer and, in turn, our Chief Technical Officer, is delegated responsibility by the Board for corporate sustainability. In turn, their direct reports have functional responsibility for sustainable business practice in specific areas. They include the senior managers of our Fleet & Newbuildings division (including technical operations, fleet personnel and risk, safety & security), our Human Resources & Administration department and our Risk & Governance and Corporate teams.
Materiality Matrix & Stakeholder Engagement
Pacific Basin engages in active two-way dialogue with our stakeholders – primarily customers, suppliers, employees, shareholders, financiers, industry associations and regulators. This enables us to map issues that are of greatest concern to our business and stakeholders, and determine the key matters for discussion in our CSR reporting. In addition to our day-to-day contact with customers, we conduct regular and in-depth customer and investor surveys that provide insight about our operations and ways we can improve. We also engage actively with associations that work to influence and respond to regulations that affect our industry.
We measure and report five key performance indicators (KPIs) across our environmental and workplace performance. Through the reporting of these KPIs and information in our CSR report, we disclose each element deemed to be of greatest impact to our business and stakeholders.
: Audited information