Atlas Corp. Unveils Transformative 2024 Sustainability Insights
Atlas Corp. Presents Comprehensive 2024 Sustainability Report
Atlas Corp. is thrilled to launch its 2024 Sustainability Report, marking its fifth annual review on initiatives related to Environment, Social, and Governance (ESG). This year's report exclusively highlights the efforts of its key subsidiary, Seaspan Corporation, reflecting a pivotal shift in focus due to recent operational changes.
Significant Changes and Focus Areas
Due to the divestiture of most of APR Energy's assets and ceasing operations, 2024 marks a new chapter as the report centers only on Seaspan Corporation. This refined approach aims to refine how the company addresses its ESG factors, which are now more closely aligned to its operational core and business model.
Understanding Materiality and Its Impacts
In the past year, Seaspan performed a thorough double materiality assessment. This evaluation aimed to gauge the significance of ESG factors from both an impact and financial perspective. By determining key risks and opportunities, Seaspan can better allocate its resources and set substantial strategies and goals for improvement.
Aligning Sustainability with Business Operations
Seaspan’s ESG topics have remained consistent with previous analyses. Interestingly, insights from both internal and external teams revealed collective consciousness around sustainability’s significant role within business operations, enhancing alignment between environmental goals and strategic objectives.
Decarbonization Initiatives and Investment Strategies
Seaspan continues to make headway in its decarbonization efforts. Noteworthy is their Action for Vessel Energy Reduction (SAVER) initiative, focusing on improving vessels' efficiency and reducing fuel consumption across the entire fleet. In 2024, Seaspan allocated $37.8 million towards these efficiency enhancements and remained committed to increasing its fleet of alternative fuel vessels.
Investments in Sustainable Infrastructure
As of the end of 2024, Seaspan's fleet proudly includes 24 LNG dual-fueled containerships, underscoring the commitment to sustainability and innovation. These vessels represent a significant step forward in reducing emissions and promoting cleaner shipping practices.
Social Responsibility and Governance
Moving beyond environmental initiatives, Seaspan emphasizes its responsibility to foster a just and equitable work environment. The company is actively engaged in improving occupational health and safety standards, enhancing operational protocols that prioritize employee well-being.
Reinforcing Governance Policies
Moreover, with a keen focus on accountability and transparency, Seaspan continuously refines its governance policies. These efforts are vital in safeguarding the long-term interests of stakeholders and the broader community, ensuring that ethical practices underpin all activities.
Leadership Commitment to ESG Initiatives
Bing Chen, President and CEO, expressed pride in the ongoing ESG progress, stating, "Our achievements are the results of collaborative efforts by our talented teams. With unwavering support from our Board and the invaluable engagement of our stakeholders, we are embedding sustainability deeply into our core strategic framework." This statement emphasizes the company's commitment to progress through teamwork and engaged partnerships.
About Atlas Corp.
Atlas Corp. stands as a premier global asset management firm specializing in efficient capital allocation aimed at generating sustainable shareholder value. The company's focus is on securing long-term, risk-adjusted returns through high-quality infrastructure assets, primarily within the maritime sector. For detailed insights, visit their website.
Frequently Asked Questions
What is included in the 2024 Sustainability Report?
The report presents an overview of Seaspan Corporation's ESG efforts, focusing on materiality assessments, decarbonization initiatives, and governance policies.
How is Seaspan addressing its environmental impact?
Seaspan is progressing with its Action for Vessel Energy Reduction initiative, aimed at enhancing operational efficiency and reducing emissions through investments in LNG vessels.
What social goals does Seaspan support?
Seaspan prioritizes occupational health and safety, ensuring a fair workplace while promoting community engagement and stakeholder interests.
Who is the CEO of Atlas Corp.?
Bing Chen is the President and CEO, leading the charge in advancing the company's ESG initiatives and strategic operations.
How can I access the full Sustainability Report?
The complete report can be downloaded from the Atlas Corporation website.
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