Raising the bar on the maritime industry

Elisabeth GriegChair Grieg Star

Key challenges

• More than 1 billion people live on less than 1,25 USD a day

• Climate change – out of control?

• Natural disasters, social unrest, regional conflicts, refugees

• ONE PLANET = SHARED RESPONSIBILITY

Shared value

Creating economic value in a way that also creates value for society by addressing its needs and challenges

• Global responsibilities• National responsibilies• Industry responsibilities• Company responsibilities• Individual responsibilities

The Grieg Group

International and diversified businesses based in Norway

Creating economic and social values in a long time perspective

Based on knowledge and production where employees’qualifications constitute a substantial part of the business capital

March 2012: 1732 employees

Gross revenue 2011: 5 408 MNOK

Result before tax 2011 : 147 MNOK

Grieg Star

Fully integrated shipping company with 889 employees

Offices worldwide

Owns and operates 26 open-hatch vessels + order book of 10 vessels

Operate a fleet of 20-30 modern conventional bulk carriers + 2 owned new buildings

Internal compliance committee

Grieg Green

Committed to sustainability

Creating lasting value through our common efforts

No harmful emissions to air and sea

No to corruption

Supply chain sustainability

Local engagements

Vision 2050: The new agenda for business

” Business will lead market change by doing what business does best:

Forming partnerships, creating efficiencies and competitive advantage, seizing opportunities and meeting customer needs. At the same time, a shift toward sustainability will trigger trillions of dollars in new investments in infrastructure, technology and human services, creating new opportunitiesfor business to thrive and grow. ”

WG5

Working group on environmental friendly shipping

Co-operation focusing on the evaluation and implementation of energy saving measures on board ships

Extended to include R&D institutions, universities and industry actors in order to create more robust knowledge and innovation platform

Joint projects include Testing and verification of energy efficieny

measures Training programs for crew Establish framework for measuring and

monitoring CO2 emissions

Traditional process Grieg Green process

Maritime anti-corruption network

MACN is an international business to business network consisting of approx. 15 shipping companies today.

Vision: A maritime industry free of corruption that enables fair trade to the benefit of society at large

Suppliers and value chain

• UN Global Compact

• UK Bribery Act 2010

• Hong Kong Convention

• Ballast water convention

• Ship Energy Efficiency Management Plan

• …

In conclusion…

”Inevitably, shipping, for so long an ’invisible industry’ operating far beyond most people’s horizons, is now coming under intense scrutiny.

Already, stringent new regulations to reduce onshore air pollution will require operators to cut their emissions of nitrogen oxides and sulphur dioxide.

It is only a matter of time before they are obliged to slash their carbon emissions as well.” - Sea change: cutting shipping’s carbon emissions, January 19th, 2011, Huw Spanner

It is not just a matter of what you do, but also how you do it“ ”