Climate Change Policy

Borea Shipping acknowledges that climate change presents risks and opportunities for the business. We are committed to identifying and managing climate change-related impacts and developing strategies in line with global and industry practices. Our employees and stakeholders in the value chain should help us to reach our goals by following this policy.

Mitigation – To reduce the emission of greenhouse gases into the atmosphere, we will:

• Measure and maintain a carbon emission inventory to develop strategies and targets;
• Increase the use of renewable energy and low-carbon energy sources where applicable;
• Incorporate environmental considerations into procurement processes and promote the use of low-carbon and energy-efficient products and services;
• Explore the opportunities of offsetting carbon emissions;
• Engage employees, suppliers, and customers to reduce carbon emissions in their daily operations and promote a low-carbon culture where practicable.

Adaptation – To ensure our operations adapt to a changing climate, we will:

• Assess climate-related risks, opportunities and identify appropriate actions by incorporating them into the risk management system and crisis management plans;
• Improve operational processes to respond to climate risks, including physical and transition risks; and
• Strengthen employees’ awareness of climate change as well as emergency management.

Resilience – To enhance our ability to rebound quickly from the impacts of climate change, we will:

• Track global and local climate-related trends to improve knowledge of best practices and their applicability to Borea Shipping;
• Ensure that relevant information and resources are available for the monitoring and regular review of the impacts of climate change on our operations including climate mitigation and adaptation strategies; and
• Communicate with suppliers and customers on Borea Shipping’ climate risks, opportunities, and strategies to identify attainable actions and help improve their resilience against future climate-related issues.

Disclosure – To communicate with stakeholders transparently, we will:

• Disclose climate-related information transparently and promptly through the Environmental, Social, and Governance Report and Company website.
• Сonsider our business development, resources, capabilities, and availability of technology while striving to achieve the aforementioned strategies and practices. The Global Management works closely with different business units as needed and is responsible for implementing and monitoring this policy and reporting to the CEO.

This policy has been approved by the CEO and will be updated as required to improve our efforts on environmental initiatives.  The updated version shall be posted on our company website and we welcome interested parties’ comments on the enforcement of the policy.