2021 ESG REPORT
E N V I R O N M E N TA L  I  S OC I A L  I  G OV E R N A N C E
O K E A N I S  E C O  T A N K E R S  C O R P .

ESG REPORT 2021
OKEANIS ECO TANKERS
Letter from our CEO 
2
Dear Reader
As we take our first steps back to “normality” 
after another challenging year, we must cede 
that the pandemic has forever changed the 
way in which we operate not only as a busi-
ness, but as a society. It has highlighted the 
precarious nature of the international supply 
chains, the tendency of nation state protec-
tionism over collectivism in crisis, and ultimately 
the sheer importance of humanity in every-
thing we do. Shareholders and stakeholders 
have realised that only a balanced approach 
between sustainability and commercial viabil-
ity has a future in today’s world and sits high 
on the agenda in every board room discussion. 
This year, along with our technical manage-
ment provider, Kyklades Maritime Corpora-
tion, we demonstrated sincere efforts to lever-
age ESG practices at the heart of our opera-
tions and actions. Despite turbulent last years 
for the entire marine transportation sector due 
to Covid-19 pandemic restrictions, Okeanis Eco 
Tankers managed to maintain its business 
continuity as well as its seafarer’s health, safety 
and wellbeing. I would like to take this oppor-
tunity to express once again our deepest grat-
itude especially to the crews onboard our ves-
sels for their unwavering professionalism, ded-
ication, and stamina during these uncertain 
times. Vigilant around social responsibility, we 
will strive to improve further our work environ-
ment for all our employees embracing safety, 
diversity and inclusion.
2021 marks a decade of policies and measures 
focused on cutting greenhouse gas emissions 
from seaborne transportation. We are now in a 
decade of action. Our industry, together with 
governments from around the world, and soci-
ety stakeholders have come together as a uni-
fied community with a commitment to oper-
ate on a strictly limited carbon footprint. While 
it is clear that we cannot wait until 2030 to posi-
tion for net zero target in mid century.  Ship-
ping continues to be critical to the facilitation 
of world trade. However, it is an industry where 
the positives are often ignored, yet the prob-
lems regularly highlighted.
At OET, we are acutely aware of our respon-
sibility to be part of these efforts and comply 
with sustainable investment practices. We can 
proudly state that we have had a head start 
vis-à-vis GHG emissions relative to market and 
peers thanks to our investment in young, ECO 
vessels built at world class yards. Since incep-
tion, and together with our managers, we are 
closely monitoring our ESG performance met-
rics.  
Kyklades Maritime Corporation as early as 2014, 
designed and developed an in-house Moni­
toring and Performance System, an innova-
tive monitoring tool capable of meeting cur-
rent and future GHG regulatory and compli-
ance requirements through real-time vessel 
emissions reporting. Now, at OET, we are tak-
ing the next step in our decarbonization jour-
ney by publishing our results for the past year 
and setting our targets for a sustainable future.  
Over the next year, we will be conducting a 
Materiality and Climate Risk session to fur-
ther identify climate risks and understand 
their interaction with investment decisions. In 
line with above targets we have signed our 
first sustainability linked loan, as of the date of 
this report, acknowledging climate risk as an 
investment risk. Taking these proactive steps, 
we firmly believe, will provide long-term, strong 
yields to our investors and partners. 
Our continued efforts in establishing and 
implementing sustainable development prin-
ciples and responsible business operations will 
lead us to achieve more in our sustainability 
journey, so that we ensure our commitments 
and initiatives are robust enough to deal with 
global sustainability challenges as well as to 
confront any potential crisis. 
The past year we draw courage and inspiration 
from our committed workforce, managed to 
fulfil our stakeholders’ expectations and satisfy 
our clients’ needs. I am thankful to our excep-
tional Team as well as its performance and 
welcome you to travel with us through our 
2021 ESG Report. 
Ioannis Alafouzos 
Chairman, CEO 
Okeanis Eco Tankers

Agenda
2021 Highlights
About this report
Okeanis Eco Tankers at a glance
Mission, Vision, Values and Strategy
Fleet
Shipmanagement 
UN Sustainable Development Goals
Stakeholder Mapping
ESG Targets 2022
Maritime industry ESG landscape
Environment
Society
Governance
Appendix
4
5
6 
7
8
9
10
11
12
13
16
22
30
35

2.04 gCO2/ton-mile AER
422,848 MT CO2 eq. Scope 1 emissions
Zero spills and releases
12 shore-based employees
42% female employees
Highly reputable and diverse board
14% female Board Members
Zero sanctions
620 seafarers on board
Zero fatal or other accidents
ESG REPORT 2021
OKEANIS ECO TANKERS
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2021 Highlights 
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2,860,816 DWT 
shipping capacity
14 vessels
in the fleet
863,324 nm  
traveled by vessels
2.6 years
average fleet age 
 
162 
port calls
4,380 
operating days

ESG REPORT 2021
OKEANIS ECO TANKERS
5
About this Report
Okeanis Eco Tankers Corp. (“OET” or “the Company”) is publishing its first ESG Report with reference year 2021.  
The Company affirms its commitment to Environmental, Social and Governance (ESG) issues and publishes  
its practices and initiatives to address its responsibilities and impacts.
Okeanis Eco Tankers, together with its 
managers, has been monitoring since 
inception all relevant data for sustain-
ability & ESG according to interna-
tionally accepted standards. Consis-
tent with its commitments towards 
ESG, OET has developed its inaugural 
ESG Report to inform its stakeholder 
groups regarding its sustainability per-
formance. The 2021 ESG Report is in 
accordance with the internationally 
accepted Sustainability Accounting 
Standards Board (SASB) for Marine 
Transportation and covers various sus-
tainability aspects. This Standard pro-
vides relevant information about ESG 
issues, which are significant to the 
Company’s financial performance and 
growth. This Report presents OET’s 
activities for the year 2021, unless oth-
erwise stated. Furthermore, the Com-
pany publishes this Report aligned 
with several GRI Standards indica-
tors as these are provided by “A Prac-
tical Guide to Sustainability Reporting 
Using GRI and SASB Standards”.
UN Sustainable  
Development Goals
The Company puts the United 
Nations Sustainable Development 
Goals (UN SDGs) at the heart of 
its operations and recognizes the 
importance of the 2030 Agenda for 
Sustainable Development. People, 
planet prosperity, peace and part-
nership are vital for OET to address 
Environment, Society and Gover-
nance, and a priority for its stakehold-
ers, thus the Report contains further 
disclosures regarding the Sustainable 
Development Goals contribution.
Euronext’s Guidelines to Issuers  
for ESG Reporting
OET, as a listed company to Oslo 
Børs, member of the Euronext 
Group, has aligned its Report with a 
number of the included  guidelines 
and it follows the Euronext guid-
ance on ESG reporting of January 
2020. “Guidelines to Issuers for ESG 
Reporting” is a voluntary initiative 
for listed companies to help them 
address material issues and import-
ant principles to consider when pre-
paring an ESG report, as well as in 
their work with investor relations.
SASB Marine Transportation  
Standard Disclosures
ESG REPORT 2021
OKEANIS ECO TANKERS
5

ESG REPORT 2021
OKEANIS ECO TANKERS
Data concern 1st half of 2022
6
Okeanis Eco Tankers Corp (“OET” or “the Company”) is the only publicly 
listed platform with pure ECO, scrubber fitted tankers engaged in the ocean 
transportation of crude oil. OET owns, through its vessel-owning subsidiaries, 
a fleet of fourteen tanker vessels, six modern Suezmax tankers and eight 
modern VLCC tankers. The Company was incorporated on April 30, 2018 under 
the laws of the Republic of the Marshall Islands, operates under its business 
office in Piraeus, Greece, and is listed on Oslo Børs under the symbol OET.
2017
2018
2019
2020
2021
2022
April
Established Okeanis Eco Tankers  
under the laws of the Republic  
of the Marshall Islands
July
Admitted  
to trading  
on Merkur Market 
March
Uplisting of OET  
to Euronext  
Expand
January
Uplisted  
to Oslo Børs
June
Published the 
1st ESG Report
June
Contributed Alafouzos family’s eco tanker 
fleet to OET in exchange for shares
December
Concluded scrubber retrofit  
program across entire fleet
1
2
3
Equipped  
with scrubbers, 
enabling them  
to burn cheaper 
HSFO over  
VLSFO
~35% more  
fuel-efficient  
(the Eco  
feature)
Belong to top 
14% and 23% 
percentile for 
Suezmax and 
VLCC vessels 
respectively vis-
à-vis ECO design 
and scrubber 
retrofitting
456
12
1
14
2.9
3.5
473
seafarers
employees
office
vessels
avg 
fleet age
mil DWT
knm 
travelled
by vessels
Shipmanagement Company  
& Technical Management
Commercial Management Company:  
In-house through OET Chartering  
(100% subsidiary of OET)
Okeanis Eco Tankers at a glance
Competitive advantages that separate OET from market
Member of

ESG REPORT 2021
OKEANIS ECO TANKERS
7
integrity
dedication
accountability
reliability
innovation
quality
consciousness
We always operate on the front line of industry evolution. Adapt-
ing to future requirements and developments, whilst continu-
ally striving to achieve and sustain a state of excellence in the 
whole spectrum of the services we provide.
Mission
Okeanis Eco Tankers promotes the concepts of safety and envi-
ronmental excellence. The Company operates under three 
continuous objectives: 
• Providing ships of the highest standard
• Collaborating with counterparties to evolve services
• Expanding an already progressive trading strategy
Strategy
Okeanis Eco Tankers has one of the youngest fleets in opera-
tion, pursuing a strategy of investing only in eco-design vessels, 
with the goal of reducing its environmental footprint, exceed-
ing industry emission benchmarks and generating value for 
its shareholders.
The Company 
balances the 
importance of 
maritime tradition 
with a forward 
thinking and 
innovative  
policy
Okeanis Eco 
Tankers focuses 
on modernizing 
its fleet and 
minimizing its 
environmental 
footprint
Mission, Vision, Values and Strategy

ESG REPORT 2021
OKEANIS ECO TANKERS
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Company’s commitment towards sustainability is reflected  
in its carbon efficiency of its young and fuel-efficient fleet
Fleet
	 No.	
Vessel Name	
Asset Type	
Asset Size	
Built	
Age	
Yard	
Yard Country	
Scrubber	
Eco Design	
BWTS
	
1	
Milos	
Suezmax	
157.539	
2016	
5,7	
Sungdong	
S. Korea	
Yes	
Yes	
Yes
	
2	
Poliegos	
Suezmax	
157.539	
2017	
5,4	
Sungdong	
S. Korea	
Yes	
Yes	
Yes
	
3	
Nissos Sikinos	
Suezmax	
157.447	
2020	
1,8	
HSHI	
S. Korea	
Yes	
Yes	
Yes
	
4	
Nissos Sifnos	
Suezmax	
157.447	
2020	
1,8	
HSHI	
S. Korea	
Yes	
Yes	
Yes
	
5	
Kimolos	
Suezmax	
159.159	
2018	
4,1	
JMU	
Japan	
Yes	
Yes	
Yes
	
6	
Folegandros	
Suezmax	
159.221	
2018	
3,8	
JMU	
Japan	
Yes	
Yes	
Yes
	
7	
Nissos Rhenia	
VLCC	
318.744	
2019	
3,1	
HHI (Ulsan)	
S. Korea	
Yes	
Yes	
Yes
	
8	
Nissos Despotiko	
VLCC	
318.744	
2019	
3,0	
HHI (Ulsan)	
S. Korea	
Yes	
Yes	
Yes
	
9	
Nissos Donoussa	
VLCC	
318.953	
2019	
2,8	
HHI (Ulsan)	
S. Korea	
Yes	
Yes	
Yes
	 10	
Nissos Kythnos	
VLCC	
318.953	
2019	
2,8	
HHI (Ulsan)	
S. Korea	
Yes	
Yes	
Yes
	
11	
Nissos Keros	
VLCC	
318.953	
2019	
2,7	
HHI (Ulsan)	
S. Korea	
Yes	
Yes	
Yes
	
12	
Nissos Anafi	
VLCC	
318.953	
2020	
2,4	
HHI (Ulsan)	
S. Korea	
Yes	
Yes	
Yes
	
13	
Nissos Kea 	
VLCC	
300.323	
2022	
0,3	
HHI (Ulsan)	
S. Korea	
Yes	
Yes	
Yes
	
14	
Nissos Nikouria	
VLCC	
300.323	
2022	
0,1	
HHI (Ulsan)	
S. Korea	
Yes	
Yes	
Yes
	Aggregate	
	
3.462.298	
	
2,6
All vessels are eco designed  
All vessels built at first class yards  
Entire fleet is scrubber fitted  
All vessels have BWTS installed
6x
Suezmax
8x
VLCCs

ESG REPORT 2021
OKEANIS ECO TANKERS
9
years of 
presence in 
shipping sector
female 
employees in 
workplace
seafarers
shored-based 
employees
employee 
retention rate
average fleet 
age managed  
by KMC (years)
total 
deadweight
(mt)
ISO 14001 
and ISO 9001 
certified 
55
35%
790
75
94%
3.6
4.6
ISO
Technical  management of 
the OET’s fleet is outsourced to 
Kyklades Maritime Corporation 
(“KMC” or “Kyklades”, a company 
owned from Alafouzos family). 
Kyklades provides the vessels with 
a wide range of shipping services 
such as technical support, 
maintenance and insurance 
consulting. Fees for such services 
lie well within market range  
at $900 per ship per day.
Kyklades implements a Safety, 
Quality & Environmental 
Management System to 
ensure that its services meet 
customer requirements. KMC is 
dedicated to providing services 
to the tanker market and the 
public in general at the highest 
possible level of respect to 
safety, quality, environmental 
protection, health and 
performance standards.
The Company’s philosophy 
and business strategy is 
focused on modern and 
efficient vessels that operate 
with the most sophisticated 
management systems 
available in the market having 
safe operations as the core of 
all activities.
The Management’s long-
term vision, is that the 
Company, will always 
operate in the front line of 
the industry evolutions and 
future requirements and 
developments, continually 
striving to achieve and 
sustain a state of excellence 
in the whole spectrum of the 
services it provides.
Kyklades Maritime Corporation VMP System
Starting as early as 2014, Kyklades strived to build a sustainable culture 
and develop green technologies around GHG awareness and vessel 
fuel performance. In this context, KMC designed and developed  
in-house Vessel Monitoring & Performance System (VMPS), an in­no­
vative monitoring tool capable of meeting current and future GHG 
regulatory and compliance requirements. The VMP KMC system moni­
tors fuel capacity and emissions in real-time while providing valuable 
information through instant reports. This significantly improves the 
decision-making process, on voyage performance management and 
technical vessel maintenance. VMPS ensures the day-to-day reporting 
is created, validated and delivered offshore reliably and on the pre-set 
time. Kyklades has been implementing a paperless and automated 
method of voyage performance reporting for the last seven years. 
Shipmanagement

GOOD HEALTH & WELL BEING
Enhancing health, safety and well-being of seafarers, 
providing the necessary measures and resources 
for the protection of the health of seafarers and 
employees.
DECENT WORK & ECONOMIC GROWTH
Ensuring decent working conditions 
for all employees and especially for 
seafarers, covering almost every 
aspect of their work life on board 
vessels.
CLIMATE ACTION
Implementing best operational 
practices to optimize all 
vessels, by increasing energy 
efficiency and reducing carbon 
footprint, ensuring the marine 
environmental protection and 
sustainability.
INDUSTRY, INNOVATION  
& INFRASTRUCTURE
Adopting clean and environmentally 
friendly technologies as well as 
industrial innovative processes to reduce 
operational environmental impact.
GENDER EQUALITY
Providing equal employment opportunities for all 
employees and a diverse working environment.
PEACE, JUSTICE & STRONG INSTITUTIONS
Adopting and implementing policies in internal 
and external operations as well as complying 
with all the applicable laws and regulations. 
Furthermore, during the war in Ukraine, the 
Company’s goal is to protect the lives of 
its seafarers, safeguard its vessels and 
reinforce global peace and justice 
initiatives.
LIFE BELOW WATER
ECO fleet complying with 
regulations for ballast water 
treatment, ensuring the 
protection of the marine 
ecosystem.
RESPONSIBLE CONSUMPTION  
& PRODUCTION
Having one of the youngest fleets 
in operation, investing only in 
eco-design vessels equipped with 
scrubbers and built to comply with 
regulations for BWTS, in order to 
reduce the environmental footprint, 
minimizing consumption of chemicals 
and managing waste in a responsible 
manner.
QUALITY EDUCATION
Offering employees training and professional 
development through educational programs.
ESG REPORT 2021
OKEANIS ECO TANKERS
10
UN Sustainable Development Goals

OET identifies as its stakeholders 
those groups that are affected by its 
activities and operations and those 
that affect the Company, both directly 
and indirectly. Those groups shape the 
internal and external environment of 
the Company and are important for its 
effective performance 
and growth. Okeanis Eco 
Tankers operations and 
business decisions are on 
track to meet stakeholders’ 
expectations related to 
economic, social, and 
environmental issues. To 
connect effectively and build strong 
relationships, the Company moved 
forward with a stakeholder mapping 
process. The fundamental approach is 
the uninterrupted interaction with each 
one of the stakeholder groups in order to 
utilize their participation and influence. 
ESG REPORT 2021
OKEANIS ECO TANKERS
11
Shareholders  
& Investors
Customers
Suppliers
Employees 
(Seafarers 
& Shore 
Employees)
Civil  
Society
Financial 
Institutions
Regulators & 
Government 
Bodies 
Authorities
Industry 
Associations & 
Policy Makers
Analysts, 
Consultants  
& Media
Peers/
Competitors
Shipbrokers & 
Charterers
Stakeholder Mapping

ESG REPORT 2021
OKEANIS ECO TANKERS
12
Zero cyber  
security incidents
100% of employees trained in the Code  
of Business Conduct and Ethics by 2023
>40% female in Board of Directors by 2025
Zero security incidents
50% of female employees by 2025
>50% diverse nationality  
of executives by 2025
At least 1 internship 
per year
EEOI< 9.00E-06 tonsCO2/Cargo ton-mile 
(A target for the annual value of the fleet)
50% reduction of CO2 emissions by 2040
Zero harmfull spills or releases  
to the environment 
30% reduction of total waste incinerated 
onboard by 2026
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ESG Targets 2022

World Shipping Fleet CO2 Output
Emissions by Mode of Transport
Marine Industry ESG Landscape
Highlights
Reduce  
GHG emissions  
by 50% by 2050
Reduce CO2 
emissions per 
transport work  
by 70% by 2050
Reduce CO2 
emissions per 
transport work  
by 40% by 2030
ESG REPORT 2021
OKEANIS ECO TANKERS
13
THE ENVIRONMENTAL IMPACT 
OF SHIPPING SECTOR
The shipping industry is by far the most environ-
mentally efficient mode of transport both on rel-
ative and absolute terms and accounts for only 
2.7% of global CO2 emissions. The industry has 
demonstrated significant emissions improve-
ment by 17% since 2008 while global seaborne 
trade grew by 43% in billion tonne-miles over the 
same period.
EUROPEAN 
COMMISSION
The European Commission proposed the ad-
dition of shipping sector to the EU Emissions 
Trading System (ETS) from 2024. The ETS is a 
European Union's policy which aims to combat 
climate change and reduce greenhouse gas 
emissions cost-effectively. It is the world's first 
major carbon market and remains the biggest 
one.
As of 2022, the maritime sector is included in 
Europe’s Emissions Trading System (“ETS”) in 
order to address greenhouse gas emissions from 
the sector and to ensure that shipping focuses 
on meeting the economy-wide emission reduc-
tion targets of the European Union.
IMO 
STRATEGY
The International Maritime Organization (IMO), 
the most prestigious global maritime organi-
zation, has set some common goals for the 
industry regarding maritime “footprint”. IMO is 
the first regulatory body to adopt a global 2050 
ambition for an entire industry, which is of criti-
cal importance given the role of shipping in the 
global economy.
Air
Road
Rail
Shipping
435
80
1%
6%
14%
35
5
  CO2 /ton-km1, 2, 3
  Shipping as a % of other modes RHS
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
1,100
1,050
1,000
950
900
850
800
450
400
350
300
250
200
150
100
50
0
100%
90
80
70
60
50
40
30
10
0
60,000
55,000
50,000
45,000
40,000
35,000
Billion tonne-miles
Million tonnes
  Total World Shipping Fleet CO2 Output
  World Seaborne Trade RHS
Source: Clarksons Research
Source: IMO GHG study 2009. Notes: 1) Energy-efficient transport is much 
dependent on the load factor, vehicle efficiency and cargo type; heavier 
cargo and larger vehicles will improve the cargo/vehicle weight ratio, re-
sulting in better CO2/ton-km values; 2) Air = Boeing 747, Road = Truck > 40 
ton, Rail = 3-4 hp / short-ton, Shipping = Average of very large container 
vessel (3 gCO2/ton-km), oil tanker (6), bulk carrier (8); 3) Estimations assum-
ing current energy mix.

Marine Industry ESG Landscape
Timeline
Global regulatory bodies are accelerating the timeline  
towards decarbonization of the shipping industry
ESG REPORT 2021
OKEANIS ECO TANKERS
14
2016
Ratification of  
Ballast Water 
Management 
Convention  
(“BWMC”)
2018
Initial IMO Strategy: 
Reduction of GHG 
emissions Ambitions set
2021
EU “Fit for 55”:  
Reduction of CO2 
emissions by 55% by 
2030, compared  
to 1990
2023
IMO Strategy: 
Energy Efficiency 
Ship Index (“EEXI”)
2025
Marine 
Environment 
Protection 
Committee  
(MEPC) of IMO:  
Lower EEDI 
reference line  
(phase 3)
2030
IMO Strategy:  
40% reduction of 
CO2 emissions from 
2008 baseline
2019
BWMC Implementation 
EU Green Deal:  
Reduction of CO2 
emissions for transport  
by 90%, by 2050
2050
IMO Strategy:  
Reduction of CO2 emissions 
per transport work by 70% 
IMO Strategy:  
50% reduction of total 
GHG emissions from 2008 
baseline
2020
IMO 2020:  
0.5% Global Sulphur (Sox) limit
Marine Environment 
Protection Committee 
(MEPC) of IMO:  
Lower EEDI reference line  
(phase 2)

Marine Industry ESG Landscape
Global Frameworks 
ESG REPORT 2021
OKEANIS ECO TANKERS
15
Poseidon Principles
The framework of the Poseidon Principles, a framework for responsible ship 
finance, launched on June 2018, constitutes the epicenter of the “Environment” 
pillar of ESG. At the same time is being widely recognized by the most promi-
nent shipping financing institutions.
Poseidon Principles is an industry framework for evaluating and reporting pol-
icies that are in line with the IMO environmental strategies, as well as measur-
ing the degree of conformity of funded shipping companies which form part of 
financial institutions’ portfolios. The practical usefulness of the Poseidon Princi-
ples, is that all organizations which cosign them, ought to measure on an annual 
basis their gas emissions as well as to draw conclusions and publish the results 
specifying the degree of conformity of the specific measures with the strategic 
commitment of gradual reduction of gas emissions. 
28 leading banks, jointly representing  
ca. $185 billion in shipping finance
The four basic Poseidon Principles are the following:
Principle of Enforcement
Principle of Transparency
Principle of Assessment
Principle of Accountability
Sea Cargo Charter
The global framework Sea Cargo Charter,  launched in October 2020, focuses 
on the integration of climate considerations into chartering decisions with 
the aim of promoting international shipping decarbonization. It provides the 
suitable guidelines for aligning chartering activities with responsible environ-
mental performance as well as measuring and disclosing how ship charte­
rers’ activities align with society’s goals.
The Sea Cargo Charter was developed to provide charterers with a shared 
methodology to assess and track their performance against the IMO’s ambi-
tion to reduce GHG emissions from international shipping by at least 50% by 
2050 compared to 2008.
In 2022, Sea Cargo Charter published its first Annual Disclosure Report, in 
which 25 Signatories disclosed the climate alignment of their overall charter-
ing activity for 2021. 
This first disclosure is also the first disclosure of climate alignment using the 
Energy Efficiency Operational Indicator (EEOI) as a metric, since this indicator 
requires the wider set of data collection. The selection of EEOI was guided 
by the ambition to measure the performance of a voyage’s carbon intensity 
in real operating conditions, the most accurate representation of a voyage’s 
climate impact by relating emissions to actual transport work.
Looking ahead, Sea Cargo Charter, will carefully examine possibilities of going 
beyond the IMO ambition, including the possibility of having a tempera-
ture-based goal, reporting against whole lifecycle emissions as well as inclu­
ding other GHG species.
THE SHIPPING INDUSTRY ACCELERATES THE ESG TRANSITION THROUGH STRATEGIC INITIATIVES

Environment
ESG REPORT 2021
OKEANIS ECO TANKERS
16
The shipping sector is 
committed to eliminate its 
ecological footprint, review 
its ecological performance 
and meet the IMOs GHG 
reduction ambition - to 
reduce absolute emissions 
by 40% by 2030 and by 
70% by 2050. During 2021, 
OET has contributed a lot 
to these goals and intends 
to improve its reductions, 
environmental metrics 
and GHG emissions. The 
Company controls one 
of the most fuel-efficient, 
young fleets in industry 
with vessels that burn less 
fuel and emit industry low 
greenhouse gas emissions 
per nautical mile travelled 
while has taken every step 
to monitor, report and 
minimize its environmental 
footprint.

The Technical manager of Okeanis Eco Tankers, 
Kyklades Maritime Corporation, recognizing the 
need to develop management tools to assist in 
managing the ongoing environmental perfor-
mance of its ships, has issued a Ship Energy Ef-
ficiency Management Plan (SEEMP), in order to 
monitor and measure the Company’s ships and 
fleet efficiency performance. The SEEMP iden-
tifies energy-saving measures which have been 
undertaken as well as the necessary measures 
that can be adopted to further improve the 
ship’s energy efficiency providing specific tools 
to assess their effectiveness. The SEEMP is appli-
cable to both fleets (OET and KMC) and is certi-
fied in accordance with ISO 14001 and ISO 9001. 
Kyklades Maritime Corporation has established 
an energy baseline for each vessel based on the 
calculation of the Energy Efficiency Operation-
al Indicator (EEOI) for the first calendar year of 
each vessel’s operation under its management. 
The EEOI is calculated and monitored on a voy-
age and yearly basis for each vessel, as well as on 
a fleet basis with the view to being able to eval-
uate vessels’ energy performance.
2.38 EEDI
All Company’s vessels have an attained  
Energy Efficiency Design Index Grams  
of CO2 per ton/nautical mile
13.2%
of average AER  
comparing to 2020
5.18
gCO2/cargo ton-mile  EEOI
Environment
Energy & Emissions Footprint
ENERGY EFFICIENCY
AVERAGE AER & EEOI FOR INDUSTRY AND OET
gCO2/cargo ton-mile
AER
EEOI
2020 Metrics. 9 sector companies are included in the above analysis
4.84
2.40
4.77
9.22
ESG REPORT 2021
OKEANIS ECO TANKERS
17
 OET
 Industry

Environment
Energy & Emissions Footprint
ESG REPORT 2021
OKEANIS ECO TANKERS
18
12 Vessels (2021)
Future proof vessels built to ECO standards,  
that consume less banker fuel than  
conventional type vessels
422,848
Metric Tons CO2 eq. Scope 1 emissions
The GHG emissions for 2021 reflect the total 
emissions of the entire fleet and are measured 
using the G4 KMC
713.6 / 723.91
Tons of NOx   /    Tons of SOx
OET fleet’s emissions  
are systematically monitored
ENVIRONMENTAL SHIP INDEX 
The Company’s vessels are participating in the Environmental Ship Index (ESI). The ESI is a project from 
the World Port Climate Initiative aiming to recognize ships whose air emissions are below regulatory limits 
and contribute to improvements in air quality and reduction of GHG emissions in the shipping sector.
Attempts are made for reducing emissions of volatile organic compounds (VOC)
Carbon dioxide (CO2) emissions are calculated and monitored with the view 
to being reduced, while deliberate emissions of Ozone Depleting Systems 
(ODS) are prohibited. Kyklades Maritime Corporation has developed, for 
each vessel, a Monitoring Plan consisting of procedures to be followed for 
acquiring data regarding CO2 emissions deriving from vessels engaged in 
voyages that include an EU port and cargo transporting activities.

Environment
Environmental Impact
ESG REPORT 2021
OKEANIS ECO TANKERS
19
OET is committed to minimize the environmental impact of the various shipboard operations
Young Fleet and Newbuilding Strategy
OET has one of the youngest fleets in operation. 
The Company believes that a young fleet con-
tributes to the reduction of its environmental 
footprint and assists in exceeding the industry’s 
emission benchmarks. Therefore, the Company 
bases its competitive advantage to the construc-
tion of eco-design vessels, fitted with exhaust 
gas cleaning systems (“scrubbers”), which are 
acquired through the Newbuilding program. 
During 2022, the Company took delivery of two 
VLCC new buildings under construction at Hyun-
dai Heavy Industries with one delivery in March 
2022 and the second in June 2022.
Just in Time & Virtual Arrival
KMC chooses the Just in Time Arrival and the 
Virtual Arrival schemes to reduce its fleet envi-
ronmental footprint. By reducing speed to reach 
the destination at a mutually agreed arrival time 
(Just in Time Arrival), the vessel can avoid spend-
ing time at anchor awaiting berth, tank space 
or cargo availability. Emissions could thus be re-
duced; congestion could be avoided and safety 
in port areas could be improved. Virtual Arrival 
involves reducing speed to meet a revised arriv-
al time. The reduction in speed results in lower 
fuel consumption and reduced GHG emissions. 
It also involves adapting the freight contract to 
enable the vessel’s speed to be reduced, in order 
to achieve an agreed arrival time at the destina-
tion port.
The Shipmanager measures and reviews its fleet 
environmental performance through a con-
tinuous improvement process, endeavoring to 
minimize the impact of the Company’s opera-
tions on the environment. KMC has identified 
areas of shipboard operations that affect the en-
vironmental performance of the ships and has 
established quantified targets (pollution reduc-
tion/improvement targets) for improving the 
environmental performance.
Ship Recycling
OET’s Technical Manager has developed a Ship 
Recycling Policy to ensure that future recycling 
of its ships may only take place at an approved 
yard, compliant with the IMO Convention and 
the Hong Kong Convention.
Hazardous Materials
The Shipmanager has developed the Inventory of Potentially Hazardous  
Materials to provide information and documentation about hazardous  
materials in the construction of the ship and the relevant equipment.
Ballast Water Treatment
All of the Company’s vessels have ballast water management  
plans in place, in accordance with the IMO’s Ballast Water  
Management Convention.

Environment
Environmental Impact
Garbage Management Plan (Kyklades Maritime Corporation)
The International Convention for the Prevention of Pollution from Ships (MARPOL) is the 
main international convention covering prevention of pollution of the marine environ-
ment by ships from operational or accidental causes. Kyklades Maritime Corporation, fol-
lowing the Regulation of Marpol Annex V, has adopted a combination of four compli-
mentary techniques to manage garbage: 
Discharge is restricted to food wastes, identified cleaning agents and additives which 
are not harmful to the marine environment. It is the Company’s policy to use onboard 
non-harmful cleaning agents and additives for cleaning the deck and external surfaces. 
Seafarers are encouraged to recover persistent garbage from the sea during routine 
operations and retain the material for discharge to port reception facilities.
E-Waste
Given that e-waste, that is generated onboard, may contain sen-
sitive data regarding vessel's security enabling unauthorized per-
sons to access vessel's equipment, compliance with GDPR and 
Cyber Security Guidelines is applied, and care is exercised by 
trained crew members while managing such waste.
Sewage
Discharge of sewage is always carried out in compliance with 
Local Port State Regulations. Sewage is treated with a sewage 
treatment plant, which uses minimal or no use of harmful chem-
icals. The installed sewage treatment plants are capable of treat-
ing greywater, which is not discharged within coastal and port 
areas.
1
source 
reduction
2
collection 
& storage
3
recycling
4
disposal
ESG REPORT 2021
OKEANIS ECO TANKERS
20
The Company had zero spills and releases to the environment in 2021

Environment
Environmental Metrics
Metric
Gross global Scope 1 emissions	 	
Discussion of long-term and short-term 
strategy or plan to manage Scope 1 emissions, 
emissions reduction targets, and an analysis of 
performance against those targets
Average Energy Efficiency Design Index (EEDI) 
for new ships
Air emissions of the following pollutants:  
(1) NOx (excluding N2O)
Air emissions of the following pollutants: (2) SOx
Shipping duration in marine protected areas  
or areas of protected conservation status
Percentage of fleet implementing ballast water 
(1) exchange and (2) treatment
(1) Number and (2) aggregate volume of spills 
and releases to the environment
GHG emission intensity
Annual Efficiency Ratio (AER)
Energy Efficiency Operational Index (EEOI)
Total fuel consumption
Reference Standard
SASB TR-MT-110a.1
SASB TR-MT-110a.2
SASB TR-MT-110a.4
SASB TR-MT-110a.4
SASB TR-MT-110a.4
SASB TR-MT-160a.1
SASB TR-MT-160a.2
SASB TR-MT-160a.3
GRI 305-4
Internal
Internal 
Internal
Unit
Metric tons (t) CO2-e
—
Grams of CO2  
per ton-nautical mile
Metric tons (t)
Metric tons (t)
Number of travel days
Percentage (%)
Number,  
Cubic meters (m³)
Ratio e.g. g CO2/t·n
gCO2/ton-mile 
gCO2/ton-mile 
Metric tons
2020
Not available data	
—
2.33
466.01
Data only for Q3 and Q4 2020
During 2020 G4 was not installed  
on M/T NISSOS KYTHNOS
During Q1 & Q2 of 2020 VMPS was 
not installed on M/T NISSOS KEROS
534.47
Data only for Q3 and Q4 2020
During 2020 G4 was not installed  
on M/T NISSOS KYTHNOS
During Q1 & Q2 of 2020 VMPS was 
not installed on M/T NISSOS KEROS
Future implementation
(1) 0, (2) 100
0
28,28
2.35 
Data only for Q2, Q3 and Q4 2020
5.47
95,936
During Q1 2020 VMPS was not 
installed on NISSOS KYTHNOS, 
NISSOS SIFNOS & NISSOS SIKINOS
2021
422,848
For the 1st quarter of Q1 2021,  
G4 was not installed on M/T NISSOS 
KYTHNOS
—
2.38
713.6
For the 1st quarter of Q1 2021,  
G4 was not installed on M/T NISSOS 
KYTHNOS
723.91
For the 1st quarter of Q1 2021,  
G4 was not installed on M/T NISSOS 
KYTHNOS
Future implementation
(1) 0, (2) 100
0
35.24
2.04
5.18
29,819
ESG REPORT 2021
OKEANIS ECO TANKERS
21

Society
Okeanis Eco Tanker employees are its most important and valuable asset, the 
driving force behind its successful course and growth. The Company ensures the 
creation of a safe working environment that respects individuality, human rights, 
acknowledges contribution and supports the continuous development of each 
employee. At the same time, OET is committed to support the communities, in which 
it operates, its customers, people and partners, which contributes to the economic 
and social development and the creation of shared value for its stakeholders.
ESG REPORT 2021
OKEANIS ECO TANKERS
22

Society
2021 Highlights
Shore-based 
employees
female  
employees
Fatal  
accidents
Social 
contribution 
through 
“Oloi Mazi 
Mporoume”
Seafarers  
on board
Office
Marine Incidents 
Classified  
as Very Serious
12
42%
0
€560,742
620
1
0%
ESG REPORT 2021
OKEANIS ECO TANKERS
23

Society
Employees
ESG REPORT 2021
OKEANIS ECO TANKERS
24
One of the most important OET pillars is its employ-
ees and their working environment. The Company 
focuses on employees’ career goals in a healthy, 
challenging and rewarding environment. In 2021, 
Okeanis Eco Tankers has 12 shore-based employ-
ees, in Athens and about 620 seafarers on board 
the Company’s vessels. The Company has quali-
fied and experienced officers, masters and crew to 
manage its vessels. 
Equity, Diversity, and Inclusion
OET is an equal opportunity employer and is com-
mitted to create and fostering a diverse working 
environment by providing equal employment 
opportunities for all persons. The Company makes 
employment decisions on the basis of merit alone, 
and is committed to recruit, train and promote a 
diverse group of persons across all job levels. Fur-
thermore, all other personnel actions are enacted 
without regard to race, color, religion, creed, sexual 
orientation, ethnic origin, citizenship, gender, gen-
der identity, age, disability, genetic information, 
parental status, marital status, or any other status. 
Furthermore, as clearly stated in the OET’s Corpo-
rate Governance policy, the Company forbids the 
discrimination against any employee or any other 
individual in terms of, but is not limited to, sex, color, 
race, religion, age, disability, pregnancy or maternity, 
sexual preference, nationality, political view and 
ancestry. The Company forbids harassment and 
bullying, and all employees are expected to treat 
every individual with respect and without discrim-
ination and provide everyone with equal employ-
ment opportunities, training or promotion.
Human Rights
Okeanis Eco Tankers has taken specific mea-
sures to combat human rights inequalities and 
has established Slavery and Human Rights Policy  
establishing a corporate culture where business is 
conducted in an ethical, fair, honest and transpar-
ent manner.
12 shore-based 
employees 
0
conditions  
of class or recommendations
20%
of seafarers  
compared to 2020
5
620
+
7
0
incidents 
of human rights violations

Society
Employees
ESG REPORT 2021
OKEANIS ECO TANKERS
25
The Company is compliant with the Maritime La-
bor Convention 2006, ensuring decent working 
conditions for its seafarers covering almost every 
aspect of their work life on board vessels, such as:
  A safe and secure workplace that complies 
with safety standards
  Fair terms of employment
  Decent working and living conditions  
on board vessels
  Health protection, medical care, welfare 
measures and other forms of social protec-
tion
Occupational Health & Safety 
Both Okeanis Eco Tankers and its technical man-
ager focus on promoting and enhancing Health 
and Safety at sea, prevention of human injury or 
loss of life, welfare of employees and minimiz-
ing the impact of their operations to the environ-
ment (marine or otherwise), including property. 
In addition, OET, through its shipmanager, pro-
vides the necessary measures and resources for 
the protection of the health of seafarers and en-
sures that they have access to prompt and ad-
equate medical care whilst working on board. 
The Company is committed to ensure that sea-
farers are provided with health protection and 
that they live, work and train in a safe and hygien-
ic environment. In order to ensure that seafarers’ 
work environment on board promotes occupa-
tional health and safety as well as to achieve and 
sustain this, the Company implements and pro-
motes:
  Occupational health and safety policies and 
programs on board, including risk evaluation, 
training and instruction of seafarers.
  Precautions to prevent occupational accidents, 
injuries and diseases, including measures to re-
duce and prevent the risk of exposure to harm-
ful levels of ambient factors and chemicals as 
well as the risk of injury or disease that may arise 
from the use of equipment and machinery.
  On board programs for the prevention of oc-
cupational accidents, injuries and diseases and 
for continuous improvement in occupational 
health and safety protection.
  Requirements for inspecting, reporting and 
correcting unsafe conditions and for investigat-
ing and reporting accidents.
  The determination of the noise exposure lev-
el of each rating/officer by taking into account 
the job profile and time spent by each crew 
member in different workspaces.
  “Safety Inspector of the Week” program. Where 
the Chief Officer will be supported/ facilitated 
by another deck or engine officer during week-
ly safety rounds/ inspections.
0.62
Lost time incident rate (LTIR) 
(lost time incidents)/ (1,000,000 hours worked)

Society
Society and Communities
ESG REPORT 2021
OKEANIS ECO TANKERS
26
Social Contribution
As a company with a global presence, 
Okeanis Eco Tankers contributes to the lo-
cal communities where it operates, enhanc-
ing its community engagement and lever-
aging its priorities in social responsibility and 
sustainability. OET supports the local econo-
mies at all levels and ensures that its opera-
tions create value as well as employment op-
portunities. To achieve its goals, Okeanis Eco 
Tankers will design and develop an integrat-
ed approach on its dialog with local com-
munities and other civil society stakeholders. 
The Company contributes to “Oloi Mazi 
Mporoume” actions and initiatives. “Oloi Mazi 
Mporoume” has been planning and imple-
menting actions covering a wide range of ar-
eas such as social contribution, the environ-
ment, health and education as well as pro-
moting social and environmental develop-
ment. More specifically, in 2021 “Oloi Mazi 
Mporoume” has offered help in the areas 
of food, health, education, sports and evi-
ronmental protection to vulnerable social 
groups and people in need, through a vari-
ety of actions and initiatives with the support 
of 4,536 volunteers.
SOCIETY
Gathering food, medicines and 
clothes for Mani & Evoia fire-stricken 
population as well as Cretan 
earthquake-stricken population.
192,345 kg food & cleaning supplies 
9 pallets personal hygiene products
5 kg animal feed
ENVIRONMENT
Protecting the environment with 
the cooperation of local bodies, 
universities and environmental 
organizations.
15,000 planted trees
27 cleaned beaches
HEALTH
Collecting pharmaceutical  
and sanitary material and delivering it 
to bodies that need it.
1,966 blood donations  
& 63,492 blood units
10 pcs medical equipment to  
“Elpida” Children’s Oncology Unit
55,000 pcs medicines and supplies  
to Municipal Social Pharmacies
KNOWLEDGE
Supporting inclusive education, 
training and development  
of everyone.
1,020 boxes of school supplies for  
66 Municipalities in Attica

Information and data in this page concern 2022
ESG REPORT 2021
OKEANIS ECO TANKERS
27
Society
Aid to Ukraine
In the context of the refugee crisis on European territory, where 
millions of Ukrainian nationals were forced to leave their 
homes, Okeanis Eco Tankers through its collaboration 
with Oloi Mazi Mporoume was mobilized immediate-
ly to respond to the ever increasing and urgent ba-
sic needs of the suffering and displaced people of 
Ukraine. Our actions aim to support the lives and the 
living conditions of Ukrainians, by providing humanitarian 
aid, accommodation and general necessities to those in need.
HUMANITARIAN AID
Collected for the affected people of Ukraine.
704 tones of humanitarian aid
1 ambulance
2.5 tones of purified water through  
water cleaning tablets
POWER GENERATORS
Provided power supply to Ukrainians 
dislodged from their homes.
35 solar panels
and 35 battery packs
ACCOMODATION
Provided shelter for the  
expelled Ukrainians  
in the heart of Athens for
142 refugees
+

Society
Society and Communities
Covid-19 Response 
In 2021, our primary concern continues 
to be the wellbeing of our seafarers and 
shore-based employees, and, in tandem, 
providing safe and reliable services to our 
clients. In line with industry response stan-
dards, we have updated and continue to 
update vessels’ procedures and supplied 
our fleet with protective equipment. We 
have effected crew changes in permissible 
ports, a vaccination program for all of our 
ships’ seafarers approaching Greek ports, 
limited superintendent visits and provi-
sions in heavily affected areas and we are 
complying with local directives and recom-
mendations. Shore-side, all our employees 
are fully vaccinated. We have also instituted 
enhanced safety protocols such as week-
ly Covid-19 testing for all office staff, regular 
cleaning/disinfection of our premises, avail-
ability of hand sanitizer and surgical masks 
throughout our premises, prohibition of on-
site visitors, total elimination of non-essen-
tial travel, mandatory self-isolation of per-
sonnel returning from travel and substitu-
tion of physical meetings with virtual meet-
ings. We are also taking measures to im-
prove the security of our network and on-
line communications and have enhanced 
monitoring of our network. Lastly, we have 
created an infectious disease preparedness 
and response plan that we have commu-
nicated to all of our staff.
ESG REPORT 2021
OKEANIS ECO TANKERS
28

Society
Social Metrics
ESG REPORT 2021
OKEANIS ECO TANKERS
29
Metric
Number of shipboard employees	
	
Total number of employees (onshore organization)
Labor rights
Female employees
Seafarer retention rate, Officers
Seafarer retention rate, Crew
Onshore retention rate
Lost time incident rate (LTIR)
Number of marine casualties, percentage classified as very serious
Number of Conditions of Class or Recommendations
Number of port state control (1) deficiencies and (2) detentions
Incidents of human rights violations
Reference Standard
SASB TR-MT-000.A
GRI 102-7i
GRI 102-41
GRI 405-1
Internal
Internal
Internal
SASB TR-MT-320a.1
SASB TR-MT-540a.1
SASB TR-MT-540a.2
SASB TR-MT-540a.3
Internal
Unit
Number
Number
—
Percentage (%)
Percentage (%)
Percentage (%)
Percentage (%)
Rate
Number, Percentage (%)
Number
Number
Number
2020 
516
12
—
42%
98%
99%
96%
0.93
0%
6
(1) 5, (2) 0
0
2021 
620
12
—
42%
98%
98%
95%
0.62
0%
0
(1) 0, (2) 0
0

In order to be a trustworthy 
business partner and service 
provider, Okeanis Eco Tankers is 
committed to ensure trust within 
the Company and enhance 
the shareholder value through 
efficient decision-making and 
transparent communication 
between management, the Board 
of Directors and its shareholders.
ESG REPORT 2021
OKEANIS ECO TANKERS
30
Governance

Governance
Corporate Governance
Board of Directors & Governance Structure
OKEANIS ECO TANKERS CORP.
Corporate Structure (2021)
ESG REPORT 2021
OKEANIS ECO TANKERS
31
As a listed company, the composition of the 
Board ensures its attendance to the common 
interests of all shareholders and meets the 
OET’s need for expertise, capacity and diver-
sity. The Board ensures that it can operate in-
dependently of any special interests. At least 
two of the members of the Board should be 
elected by shareholders and should also be 
independent of the Company’s main share-
holder(s). The Board is responsible for the over-
all management of the Company, by supervis-
ing the business and activities, adopting specif-
ic rules of procedures and evaluating annually 
the Company’s overall performance and exper-
tise. The Board oversees all matters necessary to 
the Company’s successful operations, including 
risk assessment, current and future goals, stra-
tegic direction, as well as capital allocation and 
ESG performance. The Board conducts an an-
nual self-evaluation of its own work and com-
petence.
Okeanis Eco Tankers has a robust and transpa­
rent corporate governance system. Through the 
adoption of governance principles determined 
by the Board and the management according 
to international practices, the Company supports 
the achievement of effective governance aiming 
at securing the greatest possible value creation 
over time for its shareholders, employees and oth-
er concerned parties. Furthermore, OET is aligned 
with the main principles of the Norwegian Code of 
Practice for Corporate Governance. The Company 
is, also, required to comply with certain aspects of 
the Norwegian Securities Trading Act, the Norwe-
gian Accounting Act, the Market Abuse Regulation 
(MAR) and The Issuer Rules for Oslo Børs.
Kyklades Maritime Corporation 
Fleet
OET Chartering Inc.
Technical Management
Newbuilding Supervision
100% SPVs
6 x Suezmax
8 x VLCC
100% Subsidiary
Commercial Management
Alafouzos Family
57%
Three Investors Directors
16%
External Investors
27%

Governance
Corporate Governance
ESG REPORT 2021
OKEANIS ECO TANKERS
32
Board of Directors (2021)
Committees
Ioannis Alafouzos 
Chairman
Robert Knapp 
Director
Daniel Gold 
Director
Josua Nemser 
Director
Charlotte Stratos 
Independent
Director
John Kittmer 
Independent
Director
Petros Siakotos 
Independent
Director
Audit Committee
It evaluates and discusses the various  
risk elements of the Company and potentials  
for improvement.
Remuneration Committee
It ensures thorough and independent preparation 
of matters relating to compensation paid to the 
executive management.
M&A Committee
It is a special sub-committee, with solid 
shareholder representation, which handles any 
inbound M&A interest and/or take-over initiatives.
0
Sanctions for non-compliance  
 with laws and/or regulations
 
Highly reputable  
and diverse board
Annual self-assessment
of Board of Directors

Governance
Business Ethics and Compliance
ESG REPORT 2021
OKEANIS ECO TANKERS
33
The Board of Directors of Okeanis Eco Tankers (together with its subsidiaries) has adopted the subject 
Code of Business Conduct and Ethics, following the Corporate Governance, Anti-Corruption and Anti-
Bribery, Whistleblower and Slavery and Human Trafficking Policies, for all its employees, directors, officers 
and agents. Additionally, OET complies with all the applicable laws and regulations.
Code of Business 
Conduct and Ethics
The Code was designed 
to prevent illegal or 
dishonest behavior 
and promote ethical 
business conduct. It 
outlines the ethical 
principles designed to 
govern the decisions 
and behavior of the 
Company’s employees 
as well as the core values 
of the Company.
Corporate  
Governance Policy
The Policy ensures 
an appropriate 
separation of roles and 
responsibilities among 
the Company’s Board 
and its management 
and makes certain 
that business activities 
are transparent and 
subject to satisfactory 
control.
Whistleblower  
Policy
The Board of Directors 
has adopted this Policy 
to promote legal, moral 
and ethical business 
conduct. The Policy 
offers, all the Company's 
employees, directors, 
officers and agents, 
a pathway through 
which they can raise 
concerns without fear 
of retaliation for reports 
made in good faith.
Anti-Corruption and 
Anti-Bribery Policy
Through this Policy, the 
Company complies with 
all the applicable laws, 
rules and regulations 
related to financial 
crime including, but 
not limited to, all the 
anti-bribery laws in 
areas that the Company 
conducts business and 
anti-corruption policies, 
anti-money laundering 
and sanctions. 
Slavery and Human 
Trafficking Policy
 Through this Policy, 
the Company’s staff is 
alerted, to check and 
report any violations 
regarding slavery or 
human trafficking before 
entering or while in a 
transaction. In areas with 
high risk, further due 
diligence is performed 
prior to entering into 
an agreement or 
transaction.

Governance
Governance Metrics
ESG REPORT 2021
OKEANIS ECO TANKERS
34
Metric
Board of Directors, end of year	
Number of calls at ports in countries that have  
the 20 lowest rankings in Transparency International’s  
Corruption Perception Index
Total amount of monetary losses as a result of legal  
proceedings associated with bribery or corruption
Independent Board Members
Number of incidents where bribes have been requested
Number of fines and total monetary value of fines
Non-monetary sanctions for non-compliance  
with laws and/or regulations
Reference Standard
GRI 405-1
 
SASB TR-MT-510a.1
SASB TR-MT-510a.2
Internal
Internal
Internal
Internal
Unit
Percentage
Number
Reporting currency
Percentage
Number
Number  
and reporting currency
Number
2020 
Female: 14%
Male:  86%
2
0
29%
0
0
0
2021 
Female: 14%
Male:  86%
2
0
29%
0
0
0

Appendix 
SASB Table
ESG REPORT 2021
OKEANIS ECO TANKERS
35
Activity Metric
Number of shipboard employees
Total distance traveled by vessels
Operating days
Deadweight tonnage
Number of vessels in total shipping fleet
Number of vessel port calls
Twenty-foot equivalent unit (TEU) capacity
Code
TR-MT-000.A
 
TR-MT-000.B
TR-MT-000.C
TR-MT-000.D
TR-MT-000.E
TR-MT-000.F
TR-MT-000.G
Unit of Measure
Number
Nautical miles (nm)
Days
Thousand deadweight tons
Number
Number
TEU
2020
516
587,854
During Q1 2020 G4 was not 
installed on NISSOS KYTHNOS, 
NISSOS SIFNOS &  
NISSOS SIKINOS
4,596
3,498,304
17
318
Not Applicable
2021 
620
863,324
4,380
2,860,816
12
162
Not Applicable
 (Additional Metrics)

Appendix 
SASB Table
ESG REPORT 2021
OKEANIS ECO TANKERS
36
Topic
Greenhouse Gas Emissions
Air Quality
Ecological Impacts
Employee Health & Safety
Accident & Safety Management
Business Ethics
Code
TR-MT-110a.1
TR-MT-110a.2
TR-MT-110a.3
TR-MT-110a.4
TR-MT-110a.4
TR-MT-160a.1
TR-MT-160a.2
TR-MT-160a.3
TR-MT-320a.1
TR-MT-540a.1
TR-MT-540a.2
TR-MT-540a.3
TR-MT-510a.1
TR-MT-510a.2
Accounting Metric
Gross global Scope 1 emissions
Discussion of long-term and short-term strategy or plan to manage Scope 1 emissions, 
emissions reduction targets, and an analysis of performance against those targets
(1) Total energy consumed, (2) percentage heavy fuel oil, (3) percentage renewable
Average Energy Efficiency Design Index (EEDI) for new ships
Air emissions of the following pollutants: (1) NOX (excluding N2O)
Air emissions of the following pollutants: (2) SOX
Air emissions of the following pollutants: (3) particulate matter (PM10)
Shipping duration in marine protected areas or areas of protected conservation status
Percentage of fleet implementing ballast water (1) exchange and (2) treatment
(1) Number and (2) aggregate volume of spills and releases to the environment
Lost time incident rate (LTIR)
Number of marine casualties, percentage classified as very serious
Number of Conditions of Class or Recommendations
Number of port state control (1) deficiencies and (2) detentions
Number of calls at ports in countries that have the 20 lowest rankings in Transparency 
International’s Corruption Perception Index
Total amount of monetary losses as a result of legal proceedings associated with 
bribery or corruption
Session of this Report / page
Energy & Emissions Footprint / 00
Energy & Emissions Footprint / 00
Environmental Impact / 00
Environmental Impact / 00
Energy & Emissions Footprint / 00
Energy & Emissions Footprint / 00
Energy & Emissions Footprint / 00
Environmental Metrics / 00
Environmental Impact / 00
Environmental Impact / 00
Employees / 00
Social Metrics / 00
Employees / 00
Social Metrics / 00
2021 Highlights / 00
Governance Metrics / 00

Appendix 
Glossary and Abbreviations
ESG REPORT 2021
OKEANIS ECO TANKERS
37
Abbreviation
AER 
BWTS 
CO2 
DWT 
EEDI 
 
EEOI
EU ETS
GHG 
 
HSFO
IMO 
LTIR 
NOX
SEEMP 
Scubber 
SOX
Suezmax 
PM
TEU 
VLCC
VLSFO
Term
Annual Efficiency Rate 
Ballast Water Treatment System 
Carbon Dioxide
Deadweight tons 
Energy Efficiency Design Index 
 
Energy Efficiency Operational Index
Emissions Trading System
Greenhouse Gas 
 
High Sulfur Fuel Oils
International Maritime Organization 
Lost Time Incident Rate 
Nitrogen Oxides
Ship Energy Efficiency Management Plan 
Exhaust Gas cleaning System 
Sulphur Oxides
 
Particulate Matter
Twenty-Foot Equivalent Unit 
Very Large Crude Carriers
Very Low Sulphur Fuel Oil
Definition
A measure of carbon efficiency using the parameters of fuel consumption, distance travelled, and design deadweight 
tonnage.
System designed to remove and destroy/inactive biological organisms such as zooplankton, algae, bacteria from 
ballast water.
A colorless gas and is one of the most important greenhouse gases linked with climate change and global warming.
A measure of how much weight a ship can carry. It is the sum of the weights of cargo, fuel, fresh water, ballast water, 
provisions, passengers, and crew.
A technical measure which promotes the use of more energy efficient equipment and engines, in new ships and it 
provides a specific figure for an individual ship design, expressed in grams of carbon dioxide (CO2) per ship’s capacity-
mile. 
A tool for measuring the CO2 gas emissions in a given time period per unit transport work performed. 
An EU policy to combat climate change and its key tool for reducing greenhouse gas emissions cost-effectively.
A gas that absorbs and emits radiant energy within the thermal infrared range. Greenhouse gases cause the 
greenhouse effect. The primary greenhouse gases in Earth's atmosphere are water vapor, carbon dioxide, methane, 
nitrous oxide and ozone.
Fuel oil used in international shipping.
The International Maritime Organization is a specialized agency of the United Nations responsible for regulating 
shipping.
A lost time incident is an incident that results in absence from work beyond the date or shift when it occurred. Is 
calculated as: (lost time incidents) / (1,000,000 hours worked). This includes all seafarers on the company’s vessels.
Air Pollutant
An operational measure that establishes a mechanism to improve the energy efficiency of a ship in a cost-effective 
manner. 
An exhaust gas cleaning system which is useful in removing polluting gases, like SOX and NOX from the exhaust gases 
that are generated by the marine engine’s combustion process.
Air Pollutant
The largest tankers capable of transiting the Suez Canal fully loaded. They have approximately 150,000 tons of 
deadweight.
The sum of all solid and liquid particles suspended in air many of which are hazardous. 
A unit which represents the carrying capacity of a vessel, where the dimensions of one TEU corresponds to one 
standard shipping container (20 ft by 8ft).
Tankers with carrying capacities over 200,000 tons of deadweight. They are employed in the long voyages.
Fuel oil used in international shipping. From 1 January 2020, ships will only be allowed to use fuel oil with a very low 
sulphur content.

CONTACT
Konstantinos Oikonomopoulos, CFO
+30 210 480 4099
kgo@okeanisecotankers.com
 
Disclaimer 
This report (the “Report”) has been prepared by Okeanis Eco Tankers 
Corp. (“OET or the “Company”). The Report reflects the conditions and 
views of the Company as of the date set out on the front page of this 
Report.
This Report contains certain forward-looking statements relating 
to the business, financial performance and results of the Company 
and/or the industry in which it operates, sometimes identified by 
the words “believes”, “expects”, “intends”, “plans”, “estimates” and simi-
lar expressions. The forward-looking statements contained in this 
Report, including assumptions, opinions and views of the Company or 
cited from third-party sources, are solely opinions and forecasts which 
are subject to risks, uncertainties and other factors that may cause 
actual events to differ materially from any anticipated development. 
The Company does not provide any assurance that the assumptions 
underlying such forward-looking statements are free from errors, nor 
does the Company accept any responsibility for the future accuracy of 
the opinions expressed in the Report or the actual occurrence of the 
forecasted developments. No obligations are assumed to update any 
forward-looking statements or to conform to these forward-looking 
statements to actual results.
The forward-looking statements in this Report are based upon var-
ious assumptions, many of which are based, in turn, upon further 
assumptions, including without limitation, management’s examina-
tion of historical operating trends, data contained in our records and 
other data available from third parties. Although we believe that these 
assumptions were reasonable when made, because these assump-
tions are inherently subject to significant uncertainties and contingen-
cies, which are impossible to predict and are beyond our control, we 
cannot assure you that we will achieve or accomplish these expecta-
tions, beliefs or projections.
ESG REPORT 2021
OKEANIS ECO TANKERS
38

O K E A N I S  E C O  T A N K E R S  C O R P .