Atlas Corp. Shares Insights in 2024 Sustainability Report

Atlas Corp. Unveils 2024 Sustainability Report

Atlas Corp. is excited to announce its 2024 Sustainability Report, which serves as a comprehensive overview of the company's Environment, Social, and Governance (ESG) initiatives for the year. This marks the fifth annual report dedicated to showcasing the company’s commitment to sustainability and responsible business practices. The report primarily reflects the activities of Seaspan Corporation, Atlas's subsidiary, as the divestiture of APR Energy significantly shaped the present focus.

Understanding the 2024 Sustainability Report

The current report encompasses various ESG factors and their impacts spanning from the beginning of the year until the end. Unlike its predecessors, this report emphasizes the operations of Seaspan Corporation exclusively, a shift resulting from the recent strategic decisions by Atlas. The detailed assessment conducted revealed the dual aspects of materiality, focusing on both the impacts of operations and the associated financial risks.

Seaspan's Commitment to Decarbonization

Seaspan Corporation has made substantial strides in its decarbonization journey, underscored by initiatives aimed at enhancing the energy efficiency of its vessels. The Action for Vessel Energy Reduction (SAVER) initiative is central to reducing fuel consumption and emissions across its fleet. Investments amounting to $37.8 million were allocated towards upgrading vessel efficiency and integrating alternative fuel options. By the close of 2024, Seaspan's fleet proudly included 24 LNG dual-fueled container ships, representing a pivotal step forward in sustainable operations.

Focus on Social Goals and Governance

Beyond environmental initiatives, Seaspan is equally devoted to fostering a supportive workplace atmosphere and upholding occupational health standards for its workforce. The governance framework of Seaspan illustrates its commitment to transparency, accountability, and ethical conduct, which is fundamental in protecting the interests of shareholders and the wider community.

Leadership Insight and Future Direction

Bing Chen, the President and CEO of Atlas, emphasized the collective efforts driving the company's progress in ESG initiatives. He noted, "The advancement of our sustainability efforts is a testament to the collaboration across our teams and the persistent support from our Board of Directors. By engaging with our stakeholders and incorporating sustainability into our strategy, we are committed to driving long-term value for our partners and the environment."

About Atlas Corp.

Founded with a visionary goal, Atlas Corp. has established itself as a distinguished global asset management firm that focuses on responsible capital deployment in the maritime sector. The company maintains a strategic emphasis on generating sustainable shareholder value by investing in high-quality infrastructure assets and achieving long-term, risk-adjusted returns.

Frequently Asked Questions

What is the focus of the 2024 Sustainability Report from Atlas Corp.?

The report highlights Atlas Corp.'s ESG initiatives, primarily focusing on the performance and sustainability practices of Seaspan Corporation.

How much did Seaspan invest in improving vessel efficiency?

Seaspan invested $37.8 million in enhancing the efficiency of its fleet within the 2024 operational year.

What is the purpose of the Action for Vessel Energy Reduction initiative?

This initiative aims to reduce fuel consumption and emissions across Seaspan’s fleet, promoting enhanced energy efficiency.

How does Seaspan ensure social responsibility?

Seaspan promotes a healthy work environment and emphasizes occupational health and safety in its operations.

What differentiates Atlas Corp. in the asset management sector?

Atlas Corp. stands out due to its disciplined approach in capital deployment focused on sustainable shareholder value and high-quality infrastructure investments.

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