Raising the bar on the maritime industry Elisabeth Grieg Chair Grieg Star

Key challenges ONE PLANET = SHARED RESPONSIBILITY 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 6

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 opportunities for business to thrive and grow. ”

environmental friendly shipping 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 ”