Sustainability 
      Report 2022

SUSTAINABILITY REPORT 2022
02
INTRODUCTION................................................................................................................................ 03
About this report.....................................................................................................................................................03
CEO foreword...........................................................................................................................................................04
ADVARIO AT A GLANCE................................................................................................................... 06
Who we are...............................................................................................................................................................06
What we do............................................................................................................................................................... 07
Governance..............................................................................................................................................................08
Highlights 2022........................................................................................................................................................09
STRATEGY AND SUSTAINABILITY APPROACH............................................................................. 10
Strategic ambition..................................................................................................................................................10
Stakeholders ............................................................................................................................................................. 12
Material topics.......................................................................................................................................................... 13
Sustainability framework ....................................................................................................................................14
SUSTAINABILITY FOCUS AREAS..................................................................................................... 15
Growing with a clear sustainability focus toward new energies.......................................................... 15
Reducing our environmental footprint while driving innovation .......................................................... 19
Caring about individuals and communities.................................................................................................30
Fostering talent while being inclusive and diverse.................................................................................... 39
Committing to good corporate governance...............................................................................................45
APPENDICES......................................................................................................................................52
GRI content index................................................................................................................................................... 52
List of abbreviations.............................................................................................................................................. 53
List of terminals.......................................................................................................................................................54
11
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SUSTAINABILITY REPORT 2022
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This is our first standalone sustainability report, 
showcasing our commitment to being a frontrunner 
in the sustainable energy transition, caring for 
people and the environment and applying fair 
business practices. 
About this report
This report provides an overview of our 
sustainability ambition, focus areas and actions 
in 2022. Throughout, we follow the internationally 
recognized Global Reporting Initiative (GRI) 
standards. The GRI content index at p. 52 outlines 
where specific GRI reporting elements and 
indicators are addressed in this report. 
In 2022, Advario had 13 terminals under its scope. 
This report covers the perfomance of the 12 
terminals and joint ventures (JVs) that Advario 
has operational control over (see p. 54 for a 
comprehensive list). Performance information 
for these operating entities in prior years is also 
provided for comparison. All key performance 
indicators (KPIs) applicable to Advario, including 
JVs, equity holdings and locations where we have 
operational control, are included. 
At Advario, our vision is to be the 
partner for progress in the energy 
transition, helping our partners 
transform to better business and bring 
positive change for people and the 
planet. We bring decades of experience, 
a future-focused, holistic approach and 
a truly ambitious sustainability agenda.
Advario is a future-focused, leading provider of 
liquid energy storage logistics. Launched in 2022, 
and building on the heritage of Oiltanking, Advario 
operates a global network of terminals. We handle a 
broad range of products, from chemicals, gases and 
fuels to new energy products.
Our vision is to be the partner for progress in the 
energy transition, and our ambitious sustainability 
strategy underpins everything we do. 
We are pleased to present our sustainability report 
for the year 2022. Because to continue to build close 
partnerships, we must build trust. And trust is built 
by being transparent and accountable. 
For consistency, our minority holding of the 
terminal in Singapore, where we do not have 
operational control, is not included. The 2021 
reference data has been updated to reflect this 
for accurate comparison. All financial information 
is given in euros (€). Foreign currencies have been 
converted to euros at the average exchange rates 
for 2022. 
This report is available in English and digital 
format only. The Sustainability team, which forms 
part of our Strategy, Mergers & Acquisition, and 
Sustainability department, is responsible for its 
contents. We did not seek external assurance; 
however, this option is under review for future 
reporting requirements.
Advario is committed to operational sustainability 
and high-quality reporting. We will continuously 
strive to improve the accuracy, comparability 
and timeliness of future reports. We welcome any 
questions or feedback you may have – please email 
us at communication@advario.com. 
For more information about Advario, visit  
our website: www.advario.com. 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES  
INTRODUCTION

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Dear readers, 
2022 was a year of significant change worldwide; 
change that globally impacted people, societies 
and economies.
The energy sector was at the heart of this 
change: energy powers the life of people, 
powers societies and economies. I saw positive 
developments in the sector in 2022. There 
was real momentum and a sense of urgency 
regarding the energy transition, and demand for 
sustainable solutions and future fuels is growing. 
To capitalize on the opportunity to further the 
energy transition, investment and innovation in 
infrastructure is crucial. Rapid development of 
sustainable storage solutions is needed to make 
the growth of the demand for chemicals, gases, 
future fuels and new energy products possible. 
Russia’s invasion of Ukraine shocked the world in 
2022. I feel for the people in Ukraine who suffer 
the consequences of this senseless war. 
The war in Ukraine, and other global crises, 
negatively impacted people, societies and 
economies. The world has been reminded of the 
importance of energy security. The safe and 
reliable supply of liquid energy products is not a 
luxury, but a necessity.  
The storage industry plays a pivotal role in 
both the assurance of energy security and the 
acceleration of the energy transition.  
And Advario, a future-focused global player,  
is at the forefront of positive change in the  
storage industry.  
Our commitment to sustainability
Advario is a partner for progress. We develop, 
innovate, build and operate storage infrastructure 
to provide our customers and partners with  
a reliable supply of liquid energy and chemicals 
and make it possible for them to progress their 
energy transition ambitions.  
Our commitment to sustainability shows in the 
growth opportunities and sustainable supply 
chains we pursue, the partnerships we develop 
and the projects we invest in. A penny can only be 
spent once: we invest our capital in future-focused 
products and services in petrochemicals, gases and 
new energies. We will grow the share of sustainable 
revenues from renewables significantly.  
In 2022, we started a partnership with the Belgian  
gas network operator Fluxys, jointly investing in  
a feasibility study that explores the opportunity to 
build a green ammonia import terminal in Antwerp. 
In Mexico, we partnered with Braskem Idesa to 
build an ethane import terminal. And in Singapore, 
working together with Neste, we upgraded our 
Working with our 
customers and 
partners, we progress 
towards future-focused 
solutions, together
”
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES  
CEO foreword

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facilities to be able to store sustainable aviation 
fuels (SAF). You can see the theme: we invest in 
partnerships, in growth and in progress. Read more 
about these projects, and many others,  
from p. 16. 
Globally, our terminals provide the safe and 
reliable storage solutions needed to ensure energy 
security. We maximize the efficiency and reduce 
the environmental impact of these existing assets, 
delivering value for all stakeholders involved. Over 
time, as we continue to deliver on our strategy, our 
terminals will develop and transition, lowering their 
emissions and becoming fit for a future of  
cleaner energy.  
Achieving Net Zero
Advario is determined to achieve Net Zero from our 
own operations by 2040. Initially, our focus is the 
reduction of Scope 1 and 2 greenhouse gas (GHG) 
emissions arising from our operations.  
In 2022, we have defined the roadmap toward the 
Net Zero target with decarbonization opportunities 
per terminal – putting plans in place now to achieve 
our 2040 target. We actively make an impact today. 
Measures already taken include the installation of 
solar panels, the sourcing of electricity from carbon-
free sources, the substitution of combustion-engine 
driven carts with electric carts and the use of LEDs 
for lighting. 
We see good opportunities in technology 
improvements, market developments and 
collaboration with customers and suppliers. These 
efforts are also covered extensively in this report: 
learn more about them from p. 23. 
Proud of our people
None of this would have been possible without 
our people. Reflecting on how much we have 
achieved since we launched Advario nearly 
one year ago, I feel proud. We have made great 
progress establishing Advario as a new company. 
We established our company culture. And we have 
welcomed talented new colleagues, growing the 
diversity of background and thought in Advario.  
2022 tested the resilience of our organization 
and people. The Russian invasion of Ukraine has 
impacted our operations. I admire the strong 
teamwork and resilience shown by our people 
across the organization, especially at our Finnish 
Kotka and Hamina terminals. 
The after-effects of the COVID-19 pandemic 
also influence the work we do, and how we do 
it. For a new company with a global presence, it 
is important to create a meaningful connection 
between our different locations. We have worked 
hard – together, across terminals and office 
locations – to create these connections in an 
increasingly digital-first world.  
Lastly, I want to recognize the effort by our 
people in Hamburg. The decision to locate 
Advario’s headquarters in Rotterdam will lead 
to the closure of our office in northern Germany. 
The effort and significant impact our people in 
Hamburg made in 2022, and continue to make 
to this day, is testament to their loyalty  
and professionalism.  
As Advario, we have supported our employees 
where we could. We provide flexibility and look 
to connect digitally. Advario stimulates work-
life balance and emphasizes the importance of 
mental health. Learn more about how we care 
for people at Advario from p. 31. 
Looking forward with confidence
Advario arrived in 2022, and made great 
progress throughout the year. I believe our 
future is bright. We delivered strong business 
performance and excellent improvement on 
safety performance. We progressed our long-
term strategy, a strategy with sustainability 
at the core. And we have shown growth, as a 
company, and as a community of people pulling 
in the same direction.  
More is to follow. Keep your eye on Advario.  
Best wishes, 
Bas Verkooijen, Advario CEO 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES

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Advario is a leading partner in 
liquid storage logistics and aims 
to be a frontrunner in the global 
energy transition for supply chains 
in energy and manufacturing. 
Because we store products that 
are essential to peoples‘ day-to-
day lives, key infrastructure and 
the global economy, we play an 
important role in the energy value 
chain.
ADVARIO AT  
A GLANCE 
Who we are
Advario is a large, independent liquid and gas 
storage logistics provider. Headquartered in 
Rotterdam, the Netherlands, Advario has 13 
terminals under its scope across eight major 
international energy hubs in Belgium, Finland, 
Oman, Singapore, the United Arab Emirates (UAE) 
and the United States, as well as two in China in 
different regions.
With this strong hub presence, all of our 
terminals are excellently integrated into existing 
infrastructure, primed to lead the way in the global 
transition to new energy. 
We build on the strong foundation of Oiltanking‘s 
expertise gained over decades of designing, 
commissioning and operating tank storage solutions 
with our forward-looking strategy. One that is 
focused on sustainable growth in chemicals, gases 
and new energy products. 
We offer the highest quality of service to our 
customers, which include private and state energy 
companies, new energy companies, petrochemical 
companies and traders in oil and gas products and 
chemicals. Our deep market and product knowledge, 
efficient and safe operation and close cooperation 
with our customers are part of our ongoing 
commitment to add value wherever possible.
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES

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What we do
Advario builds and operates a global network of 
multi-modal terminals for the storage and handling 
of a broad range of feedstock or rundown products 
for refineries, crackers and chemical plants. As such, 
we play a key role in global energy and chemicals 
value chains, connecting supply and demand of 
essential products, including traditional petroleum 
products, biofuels, gases and chemicals.
We have proven expertise in the development and 
operation of sophisticated cryogenic infrastructure 
for ammonia, propane, butane and other gases, 
from conceptualization and design to construction, 
operations and maintenance. Besides tank storage, 
we also operate and maintain jetty infrastructures, 
industrial pipelines and loading/unloading 
infrastructure. Our service spectrum ranges from 
storage and handling to blending and additivation.
The storage and handling of fuel products, gases 
and chemicals entails potential environmental and, 
in some cases, social risks. It is our responsibility 
to ensure that the products we handle, in liquid or 
pressurized form, are stored and transferred safely. 
It is also our responsibility to make sure no harm is 
caused to people or the environment.
Finland
Oman
Nanjing
Daya Bay
Singapore, Singapore 
Chemicals, Helios 
and JPTT
Hamburg
(Operations Hub)
Galveston and 
Texas City
Rotterdam (HQ)
Dubai
Stolthaven Antwerp and
Advario Gas
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES  
13
terminals
9
countries
1,126
employees
€447m 
consolidated 
revenue
Key facts and footprint

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Governance 
Advario B.V. is a 100% subsidiary of Oiltanking 
GmbH. Oiltanking GmbH in turn is a 100% subsidiary 
of Marquard & Bahls AG (M&B), a 100% privately 
owned holding company. M&B AG acts as an ethical 
investor in the energy and chemicals sector, aiming 
to create value over generations.
Our CEO, Bas Verkooijen, is responsible for the 
independent business unit, Advario, under the 
supervision of a Supervisory Board made up of four 
members: Stacy Methvin (independent chair), Daniel 
Weisser, Christoph Witte and Markku Korvenranta. 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES

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Advario is officially 
launched. 
Advario North 
America receives the 
International Liquid 
Terminals Association 
(ILTA) Safety 
Excellence Award for 
the second year in a 
row.
Advario Galveston 
is the first to run on 
100% carbon-free 
electricity. 
Advario Nanjing 
successfully delivers 
a new 20km transfer 
pipeline for direct 
and efficient 
ammonia delivery to 
production sites.
Our Global Safety 
Day for Advario takes 
place with employees, 
contractors and 
key partners in 
attendance. 
Advario becomes 
the newest member 
of the Hydrogen 
Council.
Advario Gas Terminal 
starts to operate a 
new 135k cbm LPG 
storage tank for 
use in chemical 
supply chains.
Advario Southeast 
Asia signs a 
Memorandum of 
Understanding on 
a ‘Green Methanol 
Value Chain 
Collaboration‘ in 
partnership with five 
leading companies.
Advario publishes its 
first sustainability 
report in conjunction 
with Oiltanking.
Advario Gas Terminal 
is awarded a gold 
rating in the EcoVadis 
sustainability ranking 
for the second year 
running in recognition 
of its ESG efforts.
Advario headquarters 
moves to WTC 
Rotterdam, a BREEAM 
certified building.
Fluxys and Advario 
join forces to 
develop a green 
ammonia import 
terminal at the Port 
of Antwerp-Bruges.
Advario and Braskem 
Idesa announce 
a partnership to 
construct the Puerto 
Mexico Chemical 
Terminal in Veracruz.
Advario Singapore 
Chemical in Jurong 
Island receives a 
grant to start a two-
year pilot project 
with innovation 
partners for a 
vanadium flow 
battery solution in 
new energy.
The first global 
Advario Days take 
place in Rotterdam, 
bringing together 
the global Advario 
organization.
SEPTEMBER
NOVEMBER
2022: Highlights
OCTOBER
MAY
JUNE
JULY
FEBRUARY 
APRIL
AUGUST
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES  
DECEMBER

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INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES  
IN ACTION: GEARING FOR 
GROWTH IN CHEMICALS
In Mexico, we have partnered with Braskem Idesa to invest  
in two 50,000 cbm feedstock tanks for ethane. Not only is this 
an expansion of markets and geographies, but the partnership 
also strengthens our network for servicing key supply chains  
of petrochemicals. Construction (pictured left) is expected to 
be complete by late 2024. 
At our Texas City complex, construction started in 2022 for  
a new 100,000 cbm storage tank for ammonia. Commissioned 
for operation in 2023, this will be the largest ammonia tank  
in the world. This is in addition to our existing ammonia 
storage tank in China, where in 2022 we commissioned a 20 
km pipeline for ammonia transport, thereby eliminating CO2 
emissions from truck transport.
In Germany, we are collaborating with Sasol Germany GmbH 
to explore the building of an ethylene facility in Brunsbüttel. 
The facility will supply ethylene to Sasol Germany’s site at 
ChemCoast Park, which has been operating since 1961. The 
facility, which will include a tank with a capacity of 30,000 m3, 
can store conventional ethylene and green ethylene, produced 
from biobased or recycled sources. Planning and construction 
is expected to take place over the next four years.

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We are committed to advancing 
in a sustainable way. This means 
creating value for our employees, 
our business partners and society 
at large without compromising the 
prospects of future generations.
STRATEGY AND  
SUSTAINABILITY APPROACH
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES  
Strategic ambition
We continue to drive large-scale greenfield and 
brownfield development projects as well as mergers 
& acquisitions globally, with the objective of doubling 
our business by 2030. In addition, we continuously 
develop, improve and transition our existing assets.  
To achieve our growth target, we have an adaptive 
and customer-focused approach and prioritize 
selective growth tailored to region-specific energy 
supply and demand. We continue to expand our 
capabilities in sustainable chemicals, gases and 
new energy products, such as ammonia, hydrogen 
and bio-fuels. Our objective is to have a material 
share of our revenue from renewable products.
We have anchored sustainability as a key priority 
in our business strategy, and are committed to 
embedding sustainability in every aspect of our 
business. We have a firm objective to reach Net 
Zero, in terms of GHG emissions from our operations, 
by 2040 at the latest.
Double business 
by 2030
Net Zero by  
2040 latest 
Material share of 
renewable revenues
Accelerate growth
“If we cannot do it safely or ethically, we don’t do it at all.”
Sustainability leadership
Maximize value 
from existing assets
Globally drive greenfield, M&A 
and material brownfield projects 
in chemicals, gas and new energy
Develop and transition 
while driving continuous 
performance improvements
Embed sustainability in every part of our business
PRIORITIES
Customer & 
market focus
Growth
capability
Operational 
excellence
People  
and culture
OBJECTIVES
ENABLERS

SUSTAINABILITY REPORT 2022
12
an open dialogue across multiple channels. 
We also keep up a regular exchange with our 
sustainability counterparts via our shareholder’s 
group of M&B and its subsidiary, Mabanaft. Here, we 
discuss Environmental, Social and Governance (ESG) 
topics, such as reporting on sustainability focus 
areas and ESG KPIs.
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES  
Stakeholders
Our overall performance, including economic, 
environmental and social impacts, is of a vested 
interest to our stakeholders as well as influenced 
by them. That is why we frequently engage 
with stakeholders, to better understand their 
needs and ensure our organizational goals and 
strategies are aligned. 
Advario’s stakeholders are:
	
X Customers
	
X Shareholders and other JV partners
	
X Employees
	
X Suppliers
	
X Authorities
	
X Financial institutions/banks
	
X Labor unions/works councils
	
X Communities
Throughout 2022, stakeholders showed immense 
interest in, and support for, our efforts to become 
a frontrunner in sustainable energy storage. This 
has further fueled our motivation to live up to 
our ambition, and we are actively involving key 
stakeholders, such as employees, customers, JV 
partners and suppliers, in the development of 
new projects that advance our progress. 
We pursue two-way communication with our 
stakeholders wherever possible, maintaining

MATERIAL TOPICS
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INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES  
8
4
6
14
12
13
11
16
10
15
2
1
77
9
3
5
Relevance to stakeholders
Significance of impacts
  Other topics
Topics to monitor
Key topics
Reducing our environmental footprint 
while driving innovation 
3 	 GHG emissions
4 	 Supplier environmental  
assessment
5 	 Air emissions
6 	 Waste
Fostering talent while being 
inclusive and diverse
12 	 Employment practices
13 	 Non-discrimination and equal  
opportunity
14 	 Freedom of association and 
collective bargaining
Growing with a clear 
sustainability focus 
toward new energies
1   Economic impacts
2   Climate adaptation,	
resilience and 	
transition 
Caring about individuals 
and communities
10 	 Occupational health 
and safety
11 	 Local communities
Committing to good 
corporate governance
15 	 Anti-corruption
16 	 Anti-competitive 
behavior
Material topics
Given that we are a new company, we conducted 
an informative materiality assessment with 
internal stakeholders across all our functions early 
2022, to further guide our sustainability approach. 
We scored sustainability topics across two axes: 1) 
the relevance of the topic to our stakeholders and 
2) the level of impact of Advario’s operations on the 
topic. 
Based on the assessment, we grouped material 
topics into five sustainability focus areas, which 
together make up our sustainability strategy.  
We are addressing each of these material topics  
in different ways in line with the focus areas.
As our organization continues to grow and evolve, 
we will run an extended materiality assessment 
with more stakeholders in future.
7 	 Water and effluents
8 	 Biodiversity
9 	 Asset integrity and 
critical incident 
management
1
3
7
10
12
15
16
13
14
11
8
9
4
5
6
2

SUSTAINABILITY REPORT 2022
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INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES  
Sustainability framework
We are committed to building better business for 
our customers and partners, our employees, our 
shareholders and society at large. To achieve our 
ambition to be the partner for progress in the energy 
transition and sustainable supply chains, we have 
developed a strategic framework for advancing 
sustainability across our business and supply chains. 
Five focus areas each address specific sustainability 
themes and we also make the connection to the 
United Nations Sustainable Development Goals 
(UN SDGs) where we can make the most impact.
This sustainability report covers our overall 
approach and priorities per focus area and reports 
the performance and achievements in 2022 for 
material topics.
We know that achieving sustainability leadership 
will not happen overnight, and we are at the very 
start of the transformative journey to live up to our 
ambition. To realize our long-term sustainability 
goals requires collaboration: sharing capabilities, 
opportunities and risks to develop new economic 
business models in the energy transition. (See p. 17 
for a breakdown of our revenue by product in 2022).
In 2023 and beyond, we will continue to establish 
partnerships across the value chain to jointly 
develop new solutions and put the entire industry 
on the path to a more sustainable world. 
Sustainability is a joint agenda for us and  
our customers, so we will continue to ensure  
that our business model supports our customers  
in advancing their own sustainability initiatives  
and environmental protection programs.
Sustainability
focus areas
Committing to good 
corporate governance
Growing with a clear sustainability
focus toward new energies
Fostering talent while 
being inclusive and diverse
Caring about individuals 
and communities
Reducing our environmental 
footprint while driving innovation

INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Growing with a clear 
sustainability focus
toward new energies 
SUSTAINABILITY REPORT 2022
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As global markets transition away from 
fossil fuels, demand for biofuels and 
new energy products will continue to 
rise. We are gearing for sustainable 
growth, prioritizing the partnerships, 
business models and products that 
will help to advance this transition – 
thereby living up to our ambition to  
be a partner for progress.
We are actively driving progress in the energy 
transition by:
	
X Working with cleaner fuels and energy products 
that further progress toward sustainable energy
	
X Seeking out, and influencing, partnerships that 
help us progress research and development into 
new business models
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
We have the ambition to double our business by 
2030 with sustainable growth. This means we seek 
to grow in chemicals, gases and new energies and 
to have a material share of our revenues coming 
from renewables. 	
2022 results prove to be in line with our ambition. 
We grew our overall portfolio, particularly in 
storage capacity of gases, which grew by 19%. 
Revenue from chemicals storage increased by 
27%. Seizing new business opportunities in Finland, 
following the sanctions setback, included biofuels 
for the paper industry. 
We continued to drive greenfield and brownfield 
investments in chemicals, gas and new energy 
infrastructure throughout the year. In addition,  
we began to repurpose existing fuel infrastructure 
at our terminals for the storage of biofuels and 
synthetic fuels.  
Growing with a clear sustainability 
focus toward new energies
We joined the Hydrogen 
Council to partner in new 
energy development
”

SUSTAINABILITY REPORT 2022
17
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Our 2022 results underline our strategy and 
sustainability ambition. We have grown our overall 
business by almost 10% (9.7%) in revenue increase 
from existing assets with an increased share of 
chemicals and gases in our portfolio. The portion of 
transport fuels reduced to 27%, (compared to 34% 
in 2021 over the same asset base). 
We have turned challenges into opportunities.
Responding to disruptive change in the market, our 
Finland business shifted to sustainable alternative 
revenue streams, from biobased fuels as well as 
organic sourced liquids. These show the first steps 
to increasing our share of renewable revenues. We 
are also continuing with sustainable avation fuel 
(SAF) and other biofuels.   
As part of our commitment to play an active 
role toward global decarbonization, we became 
the newest member of the Hydrogen Council 
in 2022. Founded in 2017, the platform is made 
up of industry leaders with a strong and active 
ambition to drive the energy transition. We will 
actively contribute to the platform, sharing our 
experience and knowledge of designing, building 
and operating low-carbon infrastructure. 
At the same time, we have also invested in growing 
our internal expertise. We have grown our business 
development teams in chemicals and gases, for 
example. And in new energy, we have expanded 
our dedicated team focused on development 
opportunities in this area, as well as invested 
further in our technical and commercial knowledge 
around new energy products and value chains.
34%
17%
26%
15%
8%
11%
16%
27%
27%
19%
REVENUES BY PRODUCT (CONSOLIDATED)
Total revenue: EUR 447 m
Total revenue: EUR 408 m
Chemicals
Gases
Transport fuels
Other
Product storage services
Growing with a clear sustainability 
focus toward new energies
2021
2022

SUSTAINABILITY REPORT 2022
18
IN ACTION: POWERING UP 
WITH NEW ENERGY
In Belgium, we partnered with national gas network operator Fluxys to explore 
and implement suitable infrastructure for blue and green ammonia import 
at the Port of Antwerp-Bruges. The aim is to provide the optimum ammonia 
terminalling solution for Northwest Europe, in operation by 2027. We are 
currently exploring the most suitable role for its business in this new supply 
chain, whether that is cracking the ammonia back into hydrogen, feeding  
into the hydrogen grid or directly supplying consumption markets.
In Singapore, we are accelerating clean energy innovations through a 
partnership with Energy Market Authority (EMA) and other project partners. 
The project aims to demonstrate the innovative deployment of Vanadium 
Redox Flow Battery energy storage systems (VRFB-ESS) by leveraging existing 
storage tank infrastructure on Jurong Island. ESS electrolyte will be stored in 
specially designed storage tanks, which can potentially be scaled up to raise 
the ESS capacity from MWh to GWh scale. The solution is intended to be 100% 
recyclable, as the vanadium electrolyte will be synthesized from industrial 
waste on Jurong Island.
Also in Singapore, we partnered with an industry leader to store and handle 
biofuels, including Sustainable Aviation Fuel (SAF). We will make modifications 
to our existing facility to cater for the replacement of traditional fossil fuels 
to low-carbon fuels, supporting Southeast Asian markets – in particular, the 
aviation industry – in their transition. 
Growing with a clear sustainability 
focus toward new energies
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES

INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
SUSTAINABILITY REPORT 2022
19
Reducing our 
environmental footprint 
while driving innovation

SUSTAINABILITY REPORT 2022
20
From protecting our waterways to 
managing our waste, we work to 
minimize our environmental impact, 
promote awareness among our 
employees and drive impact along  
the value chain.
At Advario, we are committed to reducing our 
environmental footprint, which consists of our air 
emissions, our consumption of energy, nitrogen and 
water, and the waste we produce. We have the firm 
ambition to double our business, with a material 
share of revenue coming from renewables, while 
achieving Net Zero by 2040 the latest. This puts 
sustainability at the heart of our way forward. It is 
our firm ambition to achieve Net Zero with regard 
to our greenhouse gas (GHG) emissions by 2040 
at the latest.
We store large volumes of potentially hazardous 
products. As our infrastructure is located near 
large and open waterways, protecting the 
quality and biodiversity in these areas is a 
priority for Advario. Our commitment to the 
environment is laid out in the highest-level policy 
statements for Health, Safety, Security and 
Environment (HSSE) and Sustainability, which 
are part of our Integrated Management System 
(IMS). 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
We have committed 
to Net Zero by 2040 
at the latest
”
Reducing our environmental footprint 
while driving innovation

SUSTAINABILITY REPORT 2022
21
Our objective is to cause no harm to people or the 
environment from the pollution of air, water or soil. 
Preventing such negative impacts is a top priority 
for us and is in the scope of the HSSE management 
and function, which is present at all our sites, 
ensuring the highest health and safety standards.
 
All employees at Advario adhere to the following 
commitments: 
	
X We evaluate, manage and minimize our 
environmental impacts
	
X We assess the current environmental conditions 
and liabilities of our assets
	
X We strive to ensure that the design, change, 
operation and maintenance of our assets follow 
applicable environmental regulations and 
international best practice
	
X We are good neighbors wherever we operate
These commitments are part of our HSSE 
framework, read more on p. 32. 
Protecting our environment
In line with our Emergency Response and Crisis 
Management Standard and our Major Accident 
Hazards Management, we have identified 
scenarios with potential impact on people, 
environment, assets and reputation (PEAR).  
For these scenarios, we have drafted response 
plans, which we practice regularly.
Any incident in a process installation that results 
in a recordable injury, admission of people in a 
hospital, fire or explosion, officially declared shelter 
in place, significant material damage or a release 
of chemical substances above certain thresholds 
are considered to be process safety events.
We use the internationally accepted API 
Recommended Practice (RP) 754 (2016), Process 
Safety Performance Indicator for the Refining and 
Petrochemical Industries, to classify any process 
safety event. From 2023 onward, we will use the 
Process Safety Events (PSE) as defined in the API 
RP 754, a widely international accepted and used 
industry standard, as monitoring parameter to 
track process safety performance. It will replace 
our existing internal standard, Process Safety 
Incident (PSI).
In 2022, we recorded four process safety incidents. 
In these events, small amounts of products were 
released. Our spill response procedures ensured 
effective mitigation and impact minimization.
Spills and leaks are commonly classified as Losses 
of Primary Containment (LOPC) in the industry.  
We keep track of these LOPCs, which allows us  
to compare ourselves with our peers in the 
industry. According to our internal definitions, 
spills with volumes larger than 0.1 cbm are 
registered as KPI relevant; however, all product 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
leaks, regardless of volumes, are internally 
reported and investigated.
In 2022, the number of spill incidents was eight, 
with a total spilled volume of 22.6 cbm, of which 
21.1 cbm were immediately recovered.
TOTAL PROCESS SAFETY EVENT RATE (PSE-R)
Reducing our environmental footprint 
while driving innovation
2021
2022
Per 1,000,000 working hours of  
Advario employees and contractors
2
1.5
1
0.5
0
1.39
0.81
0.41
0.4
Tier 1
Tier 2
1.79
1.22

SUSTAINABILITY REPORT 2022
22
GHG emissions from our operations
About two-thirds of our yearly carbon footprint 
derives from the electricity consumption necessary 
to operate large pumps and compressors and to 
light terminals and other building facilities, as well 
as the consumption of support gas for flaring at 
our terminals. In addition, we use natural and other 
gas, heating oil and steam for heating products at 
the right specifications and temperatures. Fuels 
are also used to run backup power generators and 
the operations vehicles on-site. 
In 2022, our absolute energy consumption 
increased. The energy intensity ratio, measured in 
gigajoule (GJ) per 1,000 ton throughput, remained 
9.21 in 2022. The growth in absolute consumption  
is due to business growth in energy-intense gases, 
including refrigerated ammonia gas and LPG. 
Flaring of residual gases cannot always be 
avoided. It is sometimes in place as a stringent 
safety measure to prevent immediate hazards for 
people and the environment. 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
ENERGY CONSUMPTION BY TYPE (GJ)
36.8%
59.6%
0.1%
3.5%
32.5%
63.2%
0.0%
4.4%
2021
2022
Fuel
Electricity
Gas
Steam
Reducing our environmental footprint 
while driving innovation
Absolute energy consumption: 460,584
Absolute energy consumption: 497,312

60,000
50,000
40,000
30,000
20,000
10,000
0
SUSTAINABILITY REPORT 2022
23
Flaring however has an impact on direct GHG 
emissions from our operations. We continue to 
assess the opportunities for, and feasibility of, 
alternative installations for vapors and gases at 
our sites, in adherence with local environmental 
legislation and permit requirements.
The energy consumption for our operations causes 
GHG emissions in Scope 1 (direct emissions from 
owned or controlled sources) and Scope 2 (indirect 
emissions from the generation of purchased 
energy) of the Greenhouse Gas Protocol. In our 
case, these are primarily CO2, methane (CH4) and 
nitrous oxide (N2O). 
We calculate the GHG emissions based on the 
latest Intergovernmental Panel on Climate Change 
(IPCC) emission factors and the GHG Protocol to 
CO2 equivalents (CO2e). In the case of emission 
factors for electricity, we take the energy mix 
of the relevant countries into consideration as 
reported by the International Energy Agency (IEA). 
2021 CO2 numbers have been corrected for IEA 2021 
electricity emission factors.
We see an increase in absolute GHG emissions, 
as well as emission intensity in 2022. This is due to 
increased business activity, which includes more 
energy intense products such as pressurized LPG 
and refrigerated ammonia gas.
Reducing our carbon footprint
As part of our ambition to achieve Net Zero by 
2040 at the latest, we completed a detailed study 
of our terminals in 2022, to define the baseline of 
Scope 1 and 2 GHG emissions and identify the main 
drivers from our operations. These were mapped 
alongside decarbonization opportunities, to build 
a roadmap to reduce our absolute CO2 emissions. 
This exercise will be followed up with detailed 
decarbonization plans for all existing assets over 
the course of 2023, taking into consideration the 
required capital expenditure. Measures already 
taken include the installation of solar panels at 
selected terminals – three terminals in Singapore 
have an installed solar panel capacity, providing 
approximately 5.7% of their annual consumption – 
the substitution of combustion engine vehicles with 
electric carts and the use of LED lighting. 
We are working on further steps to drive down 
our carbon footprint, which includes advancing 
2021
2022
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Reducing our environmental footprint 
while driving innovation
CO2 EMISSIONS INTENSITY 
BY THROUGHPUT (TCO2E/1000 T) 
0.72
0.77
2021
2022
TOTAL GHG EMISSIONS (TON CO2E) 
Scope 1
Scope 2
36,071
41,660
22,921
28,694
1.00
0.80
0.60
0.40
0.20
0.00
13,150
12,966

SUSTAINABILITY REPORT 2022
24
our energy monitoring and management at our 
terminals – both of which are crucial to this effort.  
Gradually switching to more renewable electricity 
for our operations is considered the major lever 
to drastically reduce the CO2 emissions from our 
electricity consumption. In the mid- to long-term, 
we are looking at 100% renewable energy purchase 
contracts at multiple sites. 
In mid-2022, our Galveston terminal in Texas 
was the first to operate using 100% carbon-free 
electricity sourced from a non-fossil fuel power 
mix. Texas City will follow, operating under a 
carbon-free electricity contract by mid-2023. 
Alongside reducing our energy consumption at 
our existing sites, we are also developing plans 
and standards for energy intensity and emissions 
profiles for new assets, greenfield projects and 
M&A. For example, new standards for tank design 
include better insulation and pressured tanks, 
which reduces the occurrence of volatile organic 
compounds (VOC) and eliminates the need for 
extra installations for treatment as well as the 
related gas consumption for flaring.
We will develop further tracking methods for Scope 
3 indirect GHG emissions with our main suppliers 
in 2024. This includes new build projects using steel 
and concrete, the transportation of these goods, as 
well as the handling of waste produced at our sites.
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Reducing our environmental footprint 
while driving innovation

SUSTAINABILITY REPORT 2022
25
We offset Scope 3 CO2 emissions from our flights 
in 2022 with a selection of reforestation projects 
by TreeNation, planting more than 4,000 trees 
and offsetting 501 tons of CO2e. Other benefits 
include the empowerment of local communities, 
enhancing their connection to nature, raising 
awareness, and providing hands-on education 
to students about de(re)forestation and 
environmental degradation.
Other air emissions
The emission to air from storage operations of 
products for our customers are only partly about 
GHG emissions. Other emissions include Volatile 
Organic Compounds (VOCs), which can form at our 
tank terminals through tank breathing and during 
loading and unloading. These vapors need to be 
controlled and minimized to prevent any negative 
impact on people’s health and the environment. 
The majority of our terminals are in hubs that are 
subject to strict local and environmental legislation 
to manage VOCs, keeping them at controlled and 
safe levels. 
To avoid product losses, internal floating roofs 
have been installed on almost all tanks containing 
volatile products, which prevent evaporation by 
covering the surface of the liquid. Other techniques 
used to reduce VOC emissions include vapor 
Reducing our environmental footprint 
while driving innovation
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
balancing, vapor treatment and the vapor recovery 
systems installed at many of our sites. 
We keep our Engineering Technical standard up 
to date with the latest safety, environmental and 
energy standards, including improved standards for 
reducing and controlling VOCs for the construction 
and conversion of tank terminals. 
Determining VOC emissions is based on complex 
calculations, as the emissions are highly dependent 
on factors such as the vapor pressure of the 
product, the size, paint and insulation of the 
tanks, the average ambient temperature and the 
efficiency of the vapor recovery system. Total VOC 
emissions in 2022 were calculated at 169 tons, 
consolidated from six terminals. 
These six terminals are subject to local VOC 
emission regulations, which have developed 
accurate methods to determine and measure VOC 
emissions, such as special infrared gas detection 
cameras that detect escaping VOCs. In this way, 
even the smallest gas leaks can be identified and 
repaired, further minimizing emissions.
Going forward, we will apply more focus to 
measuring VOC emissions and introducing options 
to reduce their impact across all our terminals.

SUSTAINABILITY REPORT 2022
26
Responsible water consumption
Water is a crucial resource for our operations, 
used mainly for cleaning tanks and pipelines prior 
to maintenance or product changes, as well as 
for hydrostatic tank tests, steam, fire drills and 
sanitary facilities in our offices. Fresh water is used 
for all these activities as salty seawater can cause 
corrosion to tanks and other parts. The hydrostatic 
tank tests usually have no environmental impact 
because the water can be reused as industrial 
water after the tests are completed.
Our total on-site water consumption was 239,901 
cbm in 2022, compared to 190,457 cbm in 2021 –  
an increase of 49,444 cbm. This increase can be 
attributed to increased throughput which comes 
with more operations activities such as cooling and 
cleaning of tanks and lines, for which water is used. 
The use of surface water declined as no 
hydrotesting was carried out in 2022. Our Gas 
Terminal in Antwerp uses an additional 15.38 mio 
cbm of dock water in a closed-circuit system for 
heating and cooling, which keeps the water clean 
before going back to the dock. Regardless, we aim 
to reduce the volumes of this water needed for our 
operations. 
Classified wastewater – which consists of the other 
water used at our terminals, together with rainfall 
that needs to pass through the water treatment 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Reducing our environmental footprint 
while driving innovation
Industrial
Drinking
Surface
TOTAL WATER CONSUMPTION BY SOURCE
 
190,457 m3	
239,901 m3
2021
2022
300,000
250,000
200,000
150,000
100,000
50,000
0
81,346
2,594
136
97,826
141,939
106,517

SUSTAINABILITY REPORT 2022
27
system – was 83,245 cbm in 2022 compared 
to 104,932 cbm in 2021. The reduction is due to 
significantly less rainfall at the Advario Stolthaven 
Antwerp (ASA) terminal, which limited the 
volume of water passing through the wastewater 
treatment installation, plus reduced wastewater  
at the Advario Oman (ADO) site.
The majority of our facilities operate under the 
directive of local regulations, which determine 
the limits and quality specifications for the 
discharge of wastewater into surface waters. In 
geographies where such legislation is not in place, 
we adhere to maximum permissible limits from the 
technical standard: “Storm effluent wastewater 
treatment and slop systems.” This standard is based 
on international standards, robust engineering 
practices and Advario’s long experience in operating 
terminals. It includes maximum permissible limits 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
for discharges of wastewater in cases where local 
legislation does not indicate them.
All our terminals use wastewater treatment units, 
located either on-site or at neighboring facilities.
Reducing the volume of 
water we use is one example 
of responsible operatorship
”
Reducing our environmental footprint 
while driving innovation
TOTAL INDUSTRIAL WASTEWATER 
BY TYPE OF DISCHARGE
90,148 m3	
63,799 m3
Treated        Released
2021
2022
100,000
80,000
60,000
40,000
20,000
0
24,521
65,627
47,972
15,827

SUSTAINABILITY REPORT 2022
28
Managing our waste
Due to the nature of the products we store, the 
majority of our waste streams contain a residual 
trace of oil or chemicals. In addition, all replaced 
parts or dismantled assets will contain an element 
of product residual (oil, chemical, etc). Thus, they 
are classified as “hazardous waste” and require 
certified handling and treatment.
New build project developments at our facilities 
are occasional but have an attributed volume 
of waste from construction residual materials 
that are classified as industrial waste. Moreover, 
water used for activities such as tank and pipeline 
cleaning is classified as hazardous waste due to 
residual product. Local regulations and facilities 
for handling waste materials vary greatly, which 
can limit the potential for recycling. However, 
developments to better address the negative 
impact of waste are occurring in different 
geographies. 
In 2022, we began to explore partnership 
opportunities involving innovative waste-to-
value supply chain solutions. This work began 
with further analyzing our waste streams and 
use of raw materials, as well as opportunities to 
increase reuse and recycling together with waste 
management partners.
A standard practice across all our sites and offices 
is the segregation of waste into different recycling 
streams, such as iron, wood, paper and cardboard 
and consumer plastics. Our employees are 
driving initiatives to further minimize these waste 
categories. Examples include the banning of 
single-use plastics and other disposables on-site; 
instead encouraging all colleagues to bring  
in reusable items. 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Hazardous
Industrial
Reducing our environmental footprint 
while driving innovation
TOTAL AMOUNT OF WASTE (TONS)
12,000
10,000
8,000
6,000
4,000
2,000
0
2021
2022
5,400
5,268
4,113
888
In 2022, we began to  
explore innovative 
waste-to-value solutions
”

SUSTAINABILITY REPORT 2022
29
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
IN ACTION: ENVIRONMENTAL 
FOOTPRINT IMPROVEMENT IN ANTWERP 
At our Advario Gas Terminal, multiple initiatives work together to 
reduce the environmental footprint of our activities. 
At operational level, the dock water used for the gas compressor and 
temperature control system passes through 100% clean lines, in order 
that it is not affected in any way by the product or other additives 
before being released back into the dock. The water is also cooled 
to the correct temperature before being released, so that it does not 
affect the biodiversity of the aquatic species in the local waterways.
These efforts are further boosted by employee-led projects. In 2022, 
for example, colleagues joined a local clean-up initiative in partnership 
with nature conservation organization, Natuurpunt. This kickstarted a 
longstanding collaboration to assess other opportunities to enhance 
aquatic biodiversity at the site, which is ongoing.
In recognition of its sustainability efforts, the universal sustainability 
ratings provider EcoVadis awarded the Advario Gas Terminal  
a renewed gold rating in 2022.
Reducing our environmental footprint 
while driving innovation

INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
30
SUSTAINABILITY REPORT 2022
Caring about 
individuals  
and communities

SUSTAINABILITY REPORT 2022
31
Caring for the planet goes hand in 
hand with caring for people. As a 
responsible employer, we believe in 
creating a safe, engaging and inclusive 
work environment for our colleagues, 
as well as building trust and good 
relations with local communities. 
At Advario, we operate our business with 
the highest care for our colleagues and the 
communities we work in. 
As a liquid storage company, our operations  
carry a risk of harm to people and the 
environment. As a top priority, we ensure a safe 
and healthy work environment for colleagues 
and contractors. Dedicated local Health, Safety, 
Security and Environment (HSSE) teams at each 
site work to increase awareness and make 
improvements that better prevent incidents that 
could lead to personal injury. They are supported 
by our central HSSE function, which is made up 
of designated experts in the field of occupational 
health, safety and security, as well as process 
safety and environment. This central organization 
also facilitates cross-border alignment and 
collaboration when it comes to health and safety. 
It is part of our promise that everyone returns 
home safe and well after work.
It is important that we are a trusted global citizen 
as well as a good employer. We therefore take 
responsibility for the health and wellbeing of the 
communities who live near our sites. As part of our 
Corporate Social Responsibility (CSR) framework, 
we partner with non-profit and community 
organizations on a rich program of initiatives, 
offering charity donations to volunteering drives, 
that provide local people with the support, 
resources and education they need to thrive. 
We know that mental health is an equally important 
component of people’s overall health, which is why 
we also focus on supporting colleagues’ mental 
wellbeing. Contented employees are committed 
employees, and employees who are properly 
rested are less likely to make mistakes that lead 
to accidents. To this end, we offer flexible working 
solutions that promote a better work-life balance, 
as well as a suite of programs focused on boosting 
health and wellbeing. 
Occupational health and safety
Advario handles large volumes of potentially 
hazardous liquids and gases. Adhering to the 
highest levels of safety across our terminals and 
offices is therefore paramount. In 2022, we started 
to restructure our Information Management 
System (IMS). We rebranded our HSSE policy 
and began to revise existing or write new HSSE 
standards based on industry best practice.
Caring about individuals 
and communities 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES

SUSTAINABILITY REPORT 2022
32
Our HSSE framework
Potential hazards arising from the products 
we store, and their operations, including loss  
of containment, product fires and explosions, and 
chemical contaminations. All these have potential 
PEAR consequences. Advario‘s integrated  
HSSE framework addresses and manages these 
risks.  It consists of:
	
X Standard operating procedures and work 
instructions for routine tasks. 
	
X Our Permit to Work system, covering high-risk 
activities with detailed procedures to ensure the 
implementation of all control measures.  
This applies especially to hot works, works at 
height, confined space entry and exit, electrical 
works, excavations, working with energized 
equipment (isolation of hazardous energies and 
materials) and radiation works, among others. 
	
X Risk assessments for non-routine tasks, such 
as changes, projects or high-risk activities. 
	
X Regular external and internal audits are 
conducted by experts to ensure that 
both our company standards and local 
requirements are adhered to. If audits reveal 
any gaps, we support the preparation and 
execution of improvement plans. 
HSSE induction and onboarding
Before any individual (be they an employee, 
contractor or visitor) can even gain access 
to one of our premises, they must take part 
in a strict safety onboarding and induction 
program. Minimum mandatory requirements 
include suitable personal protective 
equipment (PPE), while additional safety gear 
is allocated according to the risk level of the 
task at hand. 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Following the onboarding process, there 
are ongoing efforts to maintain a rigorous 
safety culture. This involves the continued 
promotion of safety awareness, knowledge-
sharing and socialization through 
campaigns, health checks and evaluation 
programs. All employees are required to 
complete the annual HSSE/safety training 
refresher as part of their mandatory 
compliance training. 
The contractors who work on our premises 
on maintenance, repairs or other projects 
are key to our operations. As such, we include 
contractors in many of our ongoing safety 
efforts, such as our safety induction, periodic 
training, risk assessments and Global Safety 
Day. The safety performance of a contractor 
company is also a key part of the selection 
and evaluation of our partners.
Caring about individuals 
and communities

SUSTAINABILITY REPORT 2022
33
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
IN ACTION: 
GLOBAL SAFETY DAY  
Every year, Advario invites its employees and 
contractors to celebrate a Global Safety Day. 
In 2022, the theme was the “Human Factor,” 
with a focus on empowering employees to 
create an incident-free organization. 
Activities such as behavior observations, 
management safety walks and teamwork 
exercises aimed to showcase operational 
excellence by putting best practice into action 
across our daily operations. 
For example, in Singapore, colleagues put on 
a short skit about human factors, followed up 
by a quiz to test people‘s knowledge. In Dubai, 
colleagues participated in a series of fun and 
practical games that helped cement their 
understanding of human factors in safety.
Other teamwork activities included a truck-
loading task list at Stolthaven Antwerp, as well 
as a psychology talk on work-related human 
factors such as fatigue and stress in Oman. 
Caring about individuals  
and communities

SUSTAINABILITY REPORT 2022
34
Safety principles
We believe that Target Zero (zero harm 
to people working on our sites and in our 
offices) can be achieved sustainably and 
with the full commitment and engagement 
of all stakeholders. This starts with top 
management and runs through to site 
management and  
front-line workers.
As such, we encourage a proactive, company-
wide safety culture with the goal of preventing 
accidents, injuries and work-related health 
problems. We only conduct business if we can 
do it safely and ethically, in line with a deep 
commitment to our safety principles, including 
our STOP Unsafe Work policy. 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Working at Height
Safe Driving
Safe Lifting
Permit to Work
Confined Space
Energy Isolation
Life-saving rules 
In 2020, Advario introduced 
six life-saving rules, adapted 
from the IOGP industry 
standard. These industry-
standard rules provide 
a common language 
for Advario employees, 
contractors and third  
parties working on  
company premises. 
0
Our safety principles reflect the value we place 
on the health and safety of our employees, 
contractors and partners, as well as the 
communities we operate in. Our safety  
principles are:
	
X All incidents can be prevented
	
X Management at all levels is accountable  
for safety and leads by example
	
X We plan and train for safety
	
X Everyone looks out for each other,  
no matter who they work for
	
X Everyone has the authority to STOP  
any unsafe work
	
X Safe behavior is recognized, acknowledged  
and reinforced
	
X Zero tolerance for safety breaches
Caring about individuals  
and communities

SUSTAINABILITY REPORT 2022
35
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Safety performance
Our ultimate objective is Zero accidents that 
cause any harm. We continuously track our safety 
performance. This includes monitoring of KPIs such 
as Total Recordable Injuries (TRI) and the TRI-Rate, 
TRI per million working hours. These indicators 
include both our employees and contractors.
We significantly improved our safety performance 
with the reduction of our TRI rate in 2022. These 
improvements reflect our continued efforts to 
raise the level of occupational health and safety 
throughout our operations.
Lost Time Injuries (LTI)
TRI-RATE
LTI-RATE
TOTAL RECORDABLE INJURIES (TRI) 
Incident management and emergency response
An open incident reporting culture is essential 
for continuous improvement. While all personnel 
undergo emergency preparedness and response 
training, local HSSE teams, supported by the 
central HSSE function, work together to support 
the organization in incident management. 
In the unlikely event that a severe incident occurs,  
the HSSE teams lead on a rigorous investigation 
to address the most suitable and sustainable 
corrective measures to prevent any reoccurrence 
of faults. Local HSSE managers are part of the 
local crisis management teams, which liaise and 
coordinate on strategic decision-making processes 
with our central office. Communication with the 
media and other relevant stakeholders is part of 
our crisis management procedures.
Caring about individuals 
and communities 
Fatality
2021
2021
2021
2022
2022
2022
11
0.81
2.18
1.4
2.4
2
1
1
4
14
12
10
8
6
4
2
0
3
2.5
2
1.5
1
0.5
0
3
2.5
2
1.5
1
0.5
0
Per 1,000,000 working hours
Per 1,000,000 working hours
”
A strong safety culture  
makes strong safety  
performance possible
Medical Treatment Case (MTC)
Restricted Work Case (RWC)

SUSTAINABILITY REPORT 2022
36
Caring for communities
In 2022, we defined a comprehensive 
framework to guide our CSR activities, 
with the overall objective to “contribute 
to a healthy natural environment and 
resilient and inclusive communities.” 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Caring about individuals  
and communities 
EMPLOYEE VOLUNTEERING HOURS
2021
2022
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
NUMBER OF STAFF VOLUNTEERS
2021
2022
600
500
400
300
200
100
0
We therefore balance our CSR initiatives to have 
positive impact on three strategic themes:
	
X Sustainable and healthy  
environmental habitats 
	
X Socio-economic inclusion  
and equal opportunity
	
X Ad-hoc emergency relief and crisis support
3,456
357
189
511

DONATIONS (K€) 
2021
2022
100
80
60
40
20
0
95.4
SUSTAINABILITY REPORT 2022
37
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Caring about individuals  
and communities 
It is important that we 
are a trusted global citizen 
as well as a good employer
”
87.5
We support global and local organizations via 
financial contributions or by offering (corporate) 
volunteering opportunities for our employees. 
Through these contributions, we aim to touch what 
we cannot influence directly through our business 
decisions or through our business partners. 
For ad hoc local crisis situations, we will make 
occasional contributions to support emergency 
care and humanitarian relief. At the beginning of 
2022, following news of the invasion of Ukraine, 
Advario together with the other Oiltanking entities 
made a financial donation to Aktion Deutschland 
Hilft e.V. in support of those suffering from the 
escalation of the Russo-Ukrainian war.

SUSTAINABILITY REPORT 2022
38
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
IN ACTION: HELPING COMMUNITIES 
AROUND THE WORLD
Our first global CSR Summer volunteering initiative saw 250 Advario 
employees take part in a collective clean-up of their local environments. 
In China, 104 employees cycled along the Yangtze River and Xiaojing 
Bay to collect trash from the roadside and raise awareness about the 
importance of waste reduction among local communities. In Singapore, 
two beach clean-ups took place in collaboration with Green Nudge. In 
Texas, the team kickstarted a quarterly commitment to collect trash 
from the local highway over the next three years. In total, colleagues 
collected 400kg of trash from local landscapes. 
We also encouraged colleagues to take part in local CSR initiatives 
that mean something to them. For example, in Nanjing, 36 employees 
continued a yearly tradition by volunteering an hour of their time 
to plant 30 yellow peach, pomegranate, apricot, red maple and 
wintersweet trees. Meanwhile, in Oman, 2,500 primary school children 
were provided with smart TVs, laptops and other school equipment  
in support of a local return-to-school initiative.
In December, we made a donation to the WakaWaka Foundation to 
support the shipment of 5,000 solar-powered lights to 125 rural schools 
in Rwanda, which were then distributed to local families. The lights offer 
a sustainable alternative to kerosine lamps and allow schoolchildren  
to continue their studies after dark.  
Caring about individuals  
and communities

SUSTAINABILITY REPORT 2022
SUSTAINABILITY REPORT 2022
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
39
Fostering talent while 
being inclusive and 
diverse

SUSTAINABILITY REPORT 2022
40
A diverse workforce is critical for innovation 
because it brings unique perspectives, ideas  
and experiences to the workplace. As such,  
we seek to foster it in our workforce. 
We are a truly multicultural company, with 37 
nationalities across the nine countries where 
we work. At our global headquarters, we have 
colleagues from 17 national backgrounds other 
than Dutch and German. Our leadership team  
We work to promote equality and 
fairness, celebrate differences 
and create an environment that is 
supportive and empowering for all.  
By embracing diversity and promoting 
inclusivity, we build strong, effective 
teams that are better equipped to 
further our company ambition.
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
17%
83%
16%
84%
DIVERSITY ACROSS OUR 1,126 EMPLOYEES
2) ADMINISTRATIVE  VS OPERATIONAL
1) GENDER BALANCE
39%
61%
41%
59%
is balanced with three women and four men. 
With regards to seniority, our organization shows 
a healthy mix of skilled senior professionals and 
talent for the future, across all layers. 
We believe we can do more to foster a varied 
workforce composed of people with different 
mindsets, lifestyles and life experiences.  An open 
culture and conversation are key to nursing such an 
inclusive workplace. 
Fostering talent while being inclusive 
and diverse 
3) AGE
18-25
26-35
36-45
46-55
>56
Total number of employees: 1,126
1% 4%
25%
37%
22%
12%
2021
2021
2022
2022
Female        Male
Administrative               Operational

SUSTAINABILITY REPORT 2022
41
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
By investing in the professional growth of our 
people, we create a skilled and knowledgeable 
workforce that can adapt to changing business 
environments and contribute to our overall success. 
We therefore actively promote equal opportunities 
and professional development, empowering 
colleagues to take responsibility for their career 
progression. 
In this way, we drive the entrepreneurial spirit, 
collaborative mindset and customer focus that sets 
us apart. For example, through active collaboration 
in global teams, our employees find innovative 
solutions that benefit our business and increase 
productivity. And, of course, being an attractive 
employer attracts diverse, talented people and 
secures our long-term competitiveness in the 
market. 
 
Actively develop talent
We know that employee development is essential 
to our success. That is why strategic personnel 
planning, recruitment and talent development, and 
compensation management were prioritized in 
2022 as part of the launch of Advario. A new talent 
management cycle will provide the framework 
for ongoing employee development across 2023 
and beyond. This includes goal setting, continuous 
dialogues, individual development programs and 
performance reviews, all of which are managed 
with the support of the global People Function.
We provide a comprehensive set of mandatory 
and voluntary e-learning modules across a range 
of functional areas. These include 215 open 
programs on topics such as management, ethics 
and compliance, operations and Health, Safety, 
Security and Environment (HSSE), as well as a 
further 30 programs targeted at expert functions 
and our leadership team. We also give employees 
the opportunity to participate in external courses 
and seminars to enhance industry knowledge.
Where relevant, we invite external providers  
to run face-to-face training and coaching on 
topics such as operational processes, new system 
implementations and misconduct. Where required 
by country/collective labor agreements, specific 
training budgets and programs are implemented 
at a local level. 
Beyond functional expertise training, we empower 
colleagues to grow in their professional careers by 
encouraging everyone to create a personalized 
development plan. 
Drive inclusion and diversity
The application and promotion of equal 
opportunities is part of our corporate culture 
and set out in our upcoming Code of Conduct. 
We make employment-related decisions such 
as hiring, promotion, evaluation, compensation 
and termination solely on the basis of talent, 
performance and success.
Fostering talent while being inclusive 
and diverse

SUSTAINABILITY REPORT 2022
42
We do not tolerate any form of misconduct at 
Advario. Employees and external individuals are 
encouraged to report any violation of the M&B 
Code of Conduct, such as discrimination, bullying 
or harassment, via the Speak Up platform. Reports 
may be made anonymously and at any time.
We promote equal opportunity for new hires across 
gender, ethnicity and socio-economic background. 
As the energy and chemical industries continue 
to be male-dominated, especially in operating 
functions, our recruitment process includes 
special efforts to achieve a gender balance across 
technical positions, as well as a specific ambition 
to attract and retain diverse senior professionals.  
We plan to assess other levers, such as specific 
educational training initiatives or leadership 
programs, to further improve diversity across  
our organization as we continue to grow. 
Promote a compelling company culture
A compelling company culture is essential 
for creating a positive and productive work 
environment that fosters employee engagement, 
job satisfaction and overall business success. It 
encompasses the shared values, beliefs, behaviors 
and practices that define an organization‘s 
identity and guide its interactions with employees, 
customers and stakeholders.
Highly engaged 
people deliver 
high performance
”
Advario is a new company, launched in 2022. 
The values of our parent company M&B form 
Advario‘s solid foundation, on which we are 
building our own company culture. 
We are currently developing our target 
behaviors - Teamwork, Inventive, Growth 
Mindset, External Focus and Result Oriented - 
and will involve our employees in shaping our 
unique culture over 2023 and beyond. 
Employee benefits
As a global organization with sites across 
the world, our employee benefits package 
varies based on local regulations. In addition 
to legally required benefits in each country, 
we endeavor to provide additional benefits 
including some level of health/medical 
provision at all locations, pension schemes, 
life insurance and disability and invalidity 
schemes, parental leave programs and other 
benefits, such as flexible working locations or 
mobility compensation.
Fostering talent while being inclusive 
and diverse 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES

SUSTAINABILITY REPORT 2022
43
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Our employees are free to associate with a union  
or work council. As a global business,  
we must comply with local regulations on freedom 
of association and collective bargaining. Where 
necessary, we partner with work councils to 
provide the required training needed to enable 
participants to fulfill their roles effectively.
Work-life balance
We are committed to an optimized work-life 
balance that supports the wellbeing of all 
employees. Where possible, we enable hybrid 
and more flexible ways of working for employees. 
However, the majority of our staff work in 24/7 
rotational shifts at our operations. For this segment 
of the workforce, part-time contracts and working 
from home are rarely feasible. Nevertheless, 
we believe in the importance of ensuring that 
everyone gets sufficient time off to “switch off” 
from work and spend time with family and friends.
 
Absence rate
We calculate an absence rate based on the 
number of absence days in relation to the absolute 
number of days staff were expected to work. 
This includes absences caused by work-
related injury or illness. Non-health-related 
leaves of absence, such as annual leave, 
study leave, maternity/paternity leave and 
compassionate leave, are excluded.
The sickness absence rate in 2022 was 3.1% 
compared to 2.9% in 2021. In 2023, we will give 
extra attention to work-life balance, mental 
well-being and safety behavior.
Fostering talent while being inclusive 
and diverse

SUSTAINABILITY REPORT 2022
44
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
IN ACTION: 
RECONNECTING WITH GLOBAL 
COLLEAGUES IN ROTTERDAM  
Following two years of remote working, we hosted our first 
Global Advario Days in September 2022 in Rotterdam, the 
city where our  new headquarters is located.
The event brought together 100+ senior staff from all our 
terminals and central functions over the course of three 
days, giving employees the opportunity to reconnect, 
engage in open dialogue and have fun. 
Across workshops and booth sessions, employees and the 
Leadership team discussed sustainability leadership, how 
to accelerate growth and our unique culture. Feedback 
from the sessions is used to further sharpen our strategy 
and ways of working going forward. 
The event was instrumental to bring together key people 
from different functions, clusters and experience across 
our company and business to reconnect and collaborate 
on input for the way forward. The spirit is up.
Fostering talent while being inclusive 
and diverse

Committing to  
good corporate 
governance  
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
45
SUSTAINABILITY REPORT 2022

SUSTAINABILITY REPORT 2022
46
Good corporate governance is not 
only a legal and ethical obligation 
but is essential to our long-term 
success. By adhering to a robust 
set of practices, principles and 
policies, we ensure our company’s 
future viability and strong 
reputation as a responsible partner 
for progress.
Corporate compliance and business ethics 
are integral to being a responsible business 
partner. They have always been, and always 
will be, a core principle for Advario as part  
of the M&B Group.
The M&B Code of Conduct and values are our 
guidance for responsible and ethical business. 
On this foundation we further develop our 
Codes and Policies framework in line with  
an Integrated Management System (IMS).
 
We share a common set of values across 
the M&B Group, guiding our actions and our 
behavior: we treat one another with respect, 
we take full ownership, we stand by our 
commitments and we act with integrity and 
responsibility towards all our stakeholders. 
 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
	
X We have high respect for the individual 
and care for our people.
	
X We foster equal opportunity and 
diversity.
	
X We empower and promote our 
employees based on their talent, effort 
and achievements.
Respect
	
X We take ownership of what we do  
and live up to our high reputation.
	
X We stand by the commitments  
we undertake.
	
X We expect our employees to be 
accountable for their decisions  
and actions.
Accountability
Integrity
	
X We act ethically and comply with  
all legal requirements.
	
X We deal with all stakeholders honestly, 
fairly and transparently.
	
X We believe that trust is the foundation  
for long-term partnerships.
	
X We commit ourselves to excellence 
in health and safety and continuous 
improvement.
	
X We strive to minimize our environmental 
impact and drive sustainability.
	
X We are good neighbors wherever  
we operate.
Responsibility
Committing to good 
corporate governance  
Corporate values

SUSTAINABILITY REPORT 2022
47
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Building on Ethics and Compliance, we focused  
our activities on three themes in particular:
	
X Ensure ESG integrity in our own business  
and projects
	
X Enhance ESG integrity with business  
partners and suppliers
	
X Embed ESG metrics into performance 
scorecards
Ensure ESG integrity in our own business  
and projects
Ethics and compliance
In our own business, we continue to enforce strict 
environmental, legal and regulatory compliance 
as well as make continuous improvements to 
our policy framework and standards. Mandatory 
ethics and compliance training is part of the 
onboarding process for new employees, who also 
undergo annual refresher training. 
In 2022, we focused in particular on implementing 
policies, campaigns and trainings on harassment, 
anti-trust and sanctions (including those 
developed following the invasion of Ukraine). All 
teams and departments involved in anti-trust and 
sanctions have undertaken these trainings, and 
all relevant/affected transactions continue to be 
closely monitored. 
”
If we cannot do it 
safely or ethically,  
we don‘t do it at all
Committing to good 
corporate governance  
Advario is committed to meeting all applicable 
trade sanction and embargo regulations 
worldwide. We have installed processes and 
systems that allow us to check vessel and business 
partners against sanctions. All incoming vessels 
will be checked before mooring at our jetties and 
all products checked before entering our terminals. 
Our values are underpinned by a robust policy framework, which stipulates how we conduct 
business. The framework includes the following policies and procedures:
	
X Anti-Money Laundering: preventing money 
laundering and financing of terrorism in 
line with the principles and standards of 
applicable legislation and industry practices
	
X Anti-Bribery and Corruption: conducting 
business in compliance with all applicable 
anti-bribery and anti-corruption laws
	
X Speak Up: fostering a work environment 
in which all employees feel professionally 
responsible, empowered and able to safely 
express any concerns with respect to business 
decisions or suspicions of unethical or illegal 
behavior
	
X Anti-Retaliation: (to be published in 2023) 
prohibiting retaliation and outlining the 
procedure for reporting retaliation 
 
	
X Preventing Discrimination and Sexual 
Harassment: a zero-tolerance approach 
to discrimination, harassment or bullying, 
including sexual harassment
	
X Third-Party Management: the mandatory 
rules and requirements to be followed prior  
to engaging with any business partners and 
until the conclusion of the relationship
	
X Conflict of Interest: addressing how conflicts 
of interest can be identified, avoided and 
successfully mitigated
	
X Mandatory procedure for extending gifts, 
hospitality and other benefits: rules and 
processes regarding extending and receiving 
gifts and hospitality for employees

SUSTAINABILITY REPORT 2022
48
Committing to good 
corporate governance  
This does not only detect sanctioned vessels or 
products, but also considers the Office of Foreign 
Assets Control (OFAC) Guidance to Address Illicit 
Shipping and Sanction Evasion Practices. 
Business partners and, where available, their 
ultimate beneficial owners (UBO) will be checked 
daily against sanction and embargo lists, 
including lists from Australia, Canada, the EU, 
Japan, Switzerland, the United Kingdom, United 
Nations and United States. Automatic blocking 
systems ensure that all our entities worldwide 
are safeguarded from any potential sanction 
exposure. 
We regularly train our people and inform them 
about changes in sanction regulations. Along  
with a constant exchange with our customers,  
we are ensuring full compliance with all 
applicable sanction regulations worldwide.
Following the sanctions regimes established after 
the invasion of Ukraine, our Finnish business was 
affected. The Advario Finland  
team magnificently joined efforts and  
secured strong and sustainable new business 
commitments, including biofuels. 
Whistleblowing cases
In 2022, there were five whistleblowing cases 
across all our entities. It is very important to 
us that whistleblowing channels are fully and 
rightly utilized, so we can address any potential 
misconduct. 
The addressed cases are valuable as we aim  
to foster and maintain an open, respectful culture 
where people are comfortable and feel safe to 
report any misconduct or misbehavior. However, 
there are no objectives or conclusions to be made 
from the number of cases reported. 
One reported case alleged corruption within our 
purchase process, where irregularities, but no non-
conformance has been identified and subsequently 
mitigated. No legal cases were brought against us. 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES

SUSTAINABILITY REPORT 2022
49
Enhance ESG integrity with business partners  
and suppliers
We undertake regular risk assessments to 
identify, help mitigate and prevent potential 
governance risks across our operations. 
This includes a risk-based approach to the 
acceptance and review of our business partners, 
which entails a rigorous background check 
prior to commencing the relationship. Classified 
solutions, such as a third-party check system, 
vessel check system and a KPI and incident 
reporting system, allow us to identify, among 
others: 
	
X Sanctions and embargo risks
	
X Money laundering exposure
	
X Specific country and corruption risks
	
X Human rights and supply chain risks 
Moreover, as part of the M&B Group, which 
has >1,000 employees in Germany, the 
stipulations set out in the German Due 
Diligence Supply Chain Act will apply to 
all our operations worldwide. The directive 
requires large companies to make sure social 
and environmental standards are observed 
in their supply chain. The Legal and Ethics 
& Compliance functions at Advario have, 
therefore, been adapting all contracts to 
ensure compliance with the directive in 2022. 
Further initiatives are planned by the Ethics & 
Compliance, Procurement and Sustainability 
functions in 2023 to ensure compliance in our 
supply chain with environmental and human rights 
standards. For example, in line with the upcoming 
Advario Code of Conduct, a supplier code of 
conduct is under development, to be rolled out in 
the vendor qualification process in 2023. 
We are also looking into high-risk supply chain 
issues, such as human rights and labor conditions, to 
be made subject to audits or third-party checks.
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Committing to good 
corporate governance

SUSTAINABILITY REPORT 2022
50
Advario’s suppliers and contractors must 
have adopted best practices and the highest 
ethical standards, including but not limited to 
environmental management and sustainable 
health and safety measures.
In 2022, all engineering, procurement and 
construction (EPC) contractors (vendors  
for maintenance and repair) underwent  
a requalification process, which included  
a financial assessment as well as an assessment 
of Health, Safety, Security and Environment (HSSE) 
compliance for safety and environment. This 
contractor requalification is carried out every  
two years.
In 2023, we plan to apply a wider ESG qualification 
for key suppliers, where the evaluation of 
sustainability efforts and achievements will be 
implemented for a first batch of suppliers.
Embed ESG metrics into performance scorecards 
Certifications are a good starting point, from 
independent measurements that indicate the 
process, quality and performance of business 
operations against predefined and international 
standards. We adhere to ISO 9001 for Quality 
Management and ISO 14001 for Environmental 
Management with several certifications in place 
and we plan to acquire ISO 14001 certifications  
for all our terminals by end of 2025.
International Sustainability and Carbon 
Certification (ISCC) is the sustainability certification 
for all feedstocks and markets on a global scale. 
It covers traceability of all sustainable feedstocks, 
including agricultural and forestry biomass, circular 
and bio-based materials and renewables.
EcoVadis recognizes company performance  
across the full spectrum of ESG topics. Advario  
Gas Terminal was the first to acquire the EcoVadis  
gold rating at the end 2022 for the second 
time. More terminals are lined up for EcoVadis 
certification in 2023.
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
ISO 9001	
6	
8 
ISO 14001	
5	
5
 
ISO 45001	
2	
4 
ISCC	
0	
1 
EcoVadis	
1	
1
CERTIFICATIONS
Certificate	
2021	
2022
Committing to good 
corporate governance

SUSTAINABILITY REPORT 2022
51
IN ACTION: TRAINING AND 
AWARENESS ON HARASSMENT 
AND DISCRIMINATION
In 2022, we rolled out a training and awareness campaign 
on anti-harassment as part of our ongoing focus on 
creating a safe and respectful workplace for all. The 
aim was to educate employees about what constitutes 
harassment and empower everybody to speak up if they 
suspect illegal or unethical behavior. 
As part of the campaign, all employees completed 
our mandatory e-learning modules on compliance. 
Senior leaders issued statements on discrimination and 
harassment, and invited colleagues to share their own 
thoughts via a dedicated email address.
Further activations included posters and handout 
materials, such as an information sheet with the dos 
and don’ts of workplace behavior and three tips for 
confronting any harassment. A second phase of the 
campaign will roll out in 2023, with a focus on diversity 
and inclusion.
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
Committing to good 
corporate governance

SUSTAINABILITY REPORT 2022
52
GRI content index
Statement of use 
Advario has reported the information cited in this GRI content index for the period January 1, 2022 to December 31, 2022 with reference to the GRI Standards.
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES 
GRI 
Code
Disclosure
Page
GRI 2 – 
General 
Disclosures 
2022
GRI 2-1
Organizational details
06-08
GRI 2-2
Entities included in the organization’s sustainability 
reporting
03, 54
GRI 2-3
Reporting period, frequency, contact point
03
GRI 2-5
External assurance
03
GRI 2-6
Activities, value chain and other business relationships
06-07, 12
GRI 2-7
Employees
07, 40
GRI 2-9
Governance structure and composition
08
GRI 2-10
Nomination and selection of the highest  
governance body
--
GRI 2-15
Conflict of interest
47
GRI 2-22	
Statement on sustainable development strategy
11-14
GRI 2-23	
Policy commitments
20, 46-47
GRI 2-24	
Embedding policy commitments
20-21, 31-
34, 46-48
GRI 2-25	
Processes to remediate negative impacts
23-25
GRI2-29	
Approach to stakeholder engagement
12
GRI 
Code
Disclosure
Page
GRI Standards
GRI 201
Economic Performance 2016
07, 17
GRI 202
Market Presence 2016
07, 17
GRI 203	
Indirect Economic Impacts 2016
--
GRI 204	
Procurement Practices 2016
49-50
GRI 205
Anti-corruption 2016
47
GRI 206
Anti-competitive Behavior 2016
47
GRI 302
Energy 2016
22
GRI 303
Water and Effluents 2016	
26-27
GRI 305
Emissions 2016
23-25
GRI 306
Effluents and Waste 2016	
28
GRI 306	
Waste 2020
28
GRI 308	
Supplier Environmental Assessment 2016
49-50
GRI 401
Employment 2016	
40-43
GRI 402	
Labor/Management Relations 2016	
42-43
GRI 403
Occupational Health and Safety 2016
31-35
GRI 404
Training and Education 2016
41-42
GRI 405
Diversity and Equal Opportunity 2016
40-42
GRI 406	
Non-discrimination 2016	
42, 47-48
GRI 407
Freedom of Association and Collective Bargaining 2016
43
GRI 414	
Supplier Social Assessment 2016
49-50

SUSTAINABILITY REPORT 2022
53
API  .   .   .   .   .   .   .   .   .   .   . American Petroleum Institute
BREEAM  .  .   .  .   .  .  .  Building Research Establishment Environmental 
 .  .  .  .  .  .  .  .  .  .  .  .  . Assessment Method
cbm .  .   .  .   .  .   .  .  .  .  cubic meters
CH4 .  .   .  .   .  .   .  .  .  .  methane
CO2 .  .   .  .   .  .   .  .  .  .  carbon dioxide
CO2e  .  .   .  .   .  .   .  .  .  carbon dioxide equivalent
CSR .  .   .  .   .  .   .  .  .  .  corporate social responsibility
EPC .  .   .  .   .  .   .  .  .  .  engineering, procurement and construction
ESG .  .   .  .   .  .   .  .  .  .  environmental, safety and governance
EUR .  .   .  .   .  .   .  .  .  .  euros (€)
GHG .   .   .   .   .   .   .   .   .   . greenhouse gas
GJ .  .   .  .   .  .   .  .  .  .  .  gigajoules
GRI .   .   .   .   .   .   .   .   .   .   . Global Reporting Initiative
HR .  .   .  .   .  .   .  .  .  .  .  Human Resources
HSSE  .  .   .  .   .  .   .  .  .  Health, Safety, Security and Environment
ILTA .  .   .  .   .  .   .  .  .  .  International Liquid Terminals Association
IMS  .  .   .  .   .  .   .  .  .  .  Integrated Management System
IOGP  .  .   .  .   .  .   .  .  .  International Association of Oil & Gas Producers
IPCC .   .   .   .   .   .   .   .   .   . Intergovernmental Panel on Climate Change
ISCC .   .   .   .   .   .   .   .   .   . International Sustainability and Carbon Certification
ISO .   .   .   .   .   .   .   .   .   .   . International Organization for Standardization
KPI  .   .   .   .   .   .   .   .   .   .   . key performance indicator
LOPC .  .   .  .   .  .   .  .  .  loss of primary containment
LPG .  .   .  .   .  .   .  .  .  .  liquefied petroleum gas
LTI .  .   .  .   .  .   .  .  .  .  .  lost time injuries causing an employee to miss work days
LTIR .  .   .  .   .  .   .  .  .  .  lost time injuries rate: LTI per 1 million work hours
LWD .  .   .  .   .  .   .  .  .  .  lost work days
M&A  .   .   .   .   .   .   .   .   .   . mergers and acquisitions
M&B  .   .   .   .   .   .   .   .   .   . Marquard & Bahls
mio t .   .   .   .   .   .   .   .   .   . million ton
OFAC .  .   .  .   .  .   .  .  .  Office of Foreign Assets Control 
N2O .  .   .  .   .  .   .  .  .  .  nitrous oxide
PEAR  .  .   .  .   .  .   .  .  .  people, environment, asset and reputation
PPE  .  .   .  .   .  .   .  .  .  .  personal protective equipment
RWC .   .   .   .   .   .   .   .   .   . restricted work case: an injury that prevents a worker from  
 .  .  .  .  .  .  .  .  .  .  .  .  . performing their routine functions but allows them to perform 	  
 .  .  .  .  .  .  .  .  .  .  .  .  . alternative functions
TP .  .   .  .   .  .   .  .  .  .  .  throughput, the volume of product transferred through  
 .  .  .  .  .  .  .  .  .  .  .  .  . terminal logistics (cbm)
TRI  .   .   .   .   .   .   .   .   .   .   . total recordable injuries: any incident that leads to death, days  
away from work, restricted work or transfer to another job,  
medical treatment beyond first aid or loss of consciousness
TRIR .  .   .  .   .  .   .  .  .  .  total recordable injuries rate; TRI per 1 million work hours
UBO .  .   .  .   .  .   .  .  .  .  ultimate beneficial owners
UN SDGs .  .   .  .   .  .  .  United Nations Sustainable Development Goals
VOC  .   .   .   .   .   .   .   .   .   . volatile organic compound
VRFB-ESS  .  .   .  .   .  .  Vanadium Redox Flow Battery energy storage systems
WRI .  .   .  .   .  .   .  .  .  .  World Resources Institute
List of abbreviations 
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES

SUSTAINABILITY REPORT 2022
54
List of terminals
Countries	
	
	
Terminals
Belgium		
	
	
Advario Gas Terminal N.V.
	
	
	
	
Advario Stolthaven Antwerp N.V. 
China	
	
	
	
Advario Daya Bay Co. Ltd.
	
	
	
	
Advario Nanjing Co. Ltd. 
Finland	 	
	
	
Advario Finland Oy 
Oman	 	
	
	
Advario Terminals LLC. 
Singapore	
	
	
Advario Helios Singapore Pte. Ltd.
	
	
	
	
Advario Singapore Chemical Pte. Ltd. 
	
	
	
	
Advario Singapore Ltd.
	
	
	
	
Jurong Port Tank Terminals Pte. Ltd.* 
United Arab Emirates	
	
Star Energy Resources Ltd. 
United States	
	
	
Advario Galveston County, LLC.
	
	
	
	
Advario Texas City, L.P.
* Advario does not have operational control over Jurong Port Tank Terminals,  
which is a minority holding. For consistency, it is not included in the KPIs.
INTRODUCTION     ADVARIO AT A GLANCE     SUSTAINABILITY APPROACH     SUSTAINABILITY FOCUS AREAS     APPENDICES

Advario B.V.   
WTC Rotterdam
Beursplein 37 (5th floor low rise)
3011 AA Rotterdam
The Netherlands
For contact and inquiries:  
communication@advario.com
www.advario.com