SUSTAINABILITYREPORT
2022

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

3

About This
ReportTable ofContents
About This Report .............................................................................................3
CEO Message.....................................................................................................4
About ONE.........................................................................................................6
Our Approach to Sustainability........................................................................12
Our Sustainability Progress..............................................................................20
Environment.......................................................................................................22
Operational Excellence.....................................................................................32
Social..................................................................................................................37
Governance........................................................................................................46
Performance Data..............................................................................................50
GRI Content Index.............................................................................................56
UNGC Index.......................................................................................................62
Appendix............................................................................................................63

This is Ocean Network Express’s (ONE) fifth annual
sustainability report. It provides a summary of ourprogress in managing our material sustainability
issues and implementing our sustainability
commitments. This report contains informationand data pertaining to the period 1st January 2021
to 31st December 2021, covering our liner network
services. It does not cover our inland services nor
terminal operations.
This report has been prepared in accordancewith the Global Reporting Initiative (GRI) Standards
Core option, and guided by the GRI principles fordefining report content:
Stakeholder Inclusiveness: Being responsive to
stakeholder expectations and interests;
Sustainability Context: Presenting performance inthe broader context of sustainability;
Materiality: Focusing on issues through which
we can create impact, and which are of criticalimportance to our business and stakeholders; andCompleteness: Including all information that is ofsignificant economic, environmental and social
impact to enable stakeholders to assess our
performance.
For a full list of specific standards applied anddisclosures reported in this report, please refer tothe GRI Content Index on page 56.

The data in this report has undergone rigorous internal review. We have additionallysought independent external assurance for selected key disclosures. Please refer tothe Appendix on page 64 for the Independent Limited Assurance Report.
CONTACTWe welcome feedback from our stakeholders to help us improve and progress in
our approach to sustainability and sustainability communication. Please contact our
Sustainability team at: sustainability@one-line.com

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability ProgressCEO
Message
I am confident that with all
hands on deck, we can work
towards a more sustainable
and inclusive future.
Dear Stakeholders,
I am pleased to present ONE’s fifth annual
sustainability report, which covers the calendar
year of 2021. While the COVID-19 pandemic has
shown nascent signs of subsiding, the recovery
from its aftermath has been largely uneven,with countries continuing to struggle from thebroader implications of this unprecedented
health crisis. At the same time, we enter the yearof 2022 in a world polarised by political tensions
and socio-economic divisions, which send
rippling effects throughout global supply chains.
These are certainly choppy waters ahead, but I
am certain that as ONE, we can navigate themsuccessfully, as we did in 2021. I am immensely
proud of the team for overcoming this year’s
challenges and ensuring the continuity of ourvessel operations and liner services. While
the persistent and volatile COVID-19 situation
posed significant operational disruptions to
global port and landside infrastructure, the close
teamwork between our Global Headquarters(GHQ), Regional Headquarters (RHQ) andcountry offices enabled us to take on multiple
operational bottlenecks, even as many of us
worked from home. Our seamless transition
to remote working was in turn made possible
by our early adoption of digital technologies
and platforms, which continue to permeate ourworkflows today.

Environment

Operational Excellence

SocialGovernance

Performance Data

We have made strong progress onto
the next phase of our digitalisation
roadmap and our processes, bothinternal and external, are at ahigh level of digital intensity. This
has enabled us to operate more
efficiently and elevate customer
experience. In 2021, for example,
we launched our mobile application
which provides an all-in-one platform
for customers to complete coretransactions and access criticalinformation on-the-go. Looking ahead
in 2022, we will be launching a new
end-to-end e-commerce platform.
Covering everything from schedulingto finance, the platform will serve
as a one-stop solution for all of ourcustomers’ shipping needs.
One of the key highlights for ONE
in 2021 is launching our Green
Strategy, which will be driven by the
newly established Green Strategy
Department. This is a concrete
step towards accelerating ourdecarbonisation ambition, which
we have further cemented with anenhanced GHG emissions reduction
target to achieve net zero emissions
by 2050. To do this, we havedeveloped a decarbonisation plan
covering five focus areas, spanningcarbon management, operational
efficiency, green investment,
alternative fuels and ecosystembuilding. Initiatives for each focus
area are detailed in this report.
Besides continuing to implement
measures that enhance ouroperational and fleet fuel efficiency
and ensure we achieve IMO 2030
targets on EEXI and CII, we areembarking on new strategic initiatives
to aid us in our net zero transition.
These include the adoption of aninternal carbon price for future
investment decision making and theincorporation of carbon intensity as
a key factor throughout the asset
lifetime.
To underscore the importance ofcollaboration in solving the climatechange issue, we became a founding
partner of the Global Centre for

GRI Content Index

UNGC Index

Appendix

Maritime Decarbonisation, joining
hands with six other industry partners
and the Maritime and Port Authority ofSingapore. ONE will contribute S$10
million to support the establishmentof the centre, fund maritimedecarbonisation-related researchand technology development
projects, and collaborate withinstitutes of higher learning andresearch institutes. Collectively, ourdecarbonisation initiatives will help
us realise our vision of becoming
a global leader in environmentally
sustainable shipping.
Ultimately, it is the dedication andsupport of our people that will
determine if we reach our envisioned
destination. Developing andengaging our employees so they canreach their professional and personalpotential is thus a key focus for us, as
we seek to strengthen and diversify
our talent base for the crucial years
ahead. To this end, we launched a
1 year mini MBA programme with
Rutgers Business School to upskill
senior management and developed
the “Knowing ONE” training onboard
to new hires more efficiently. We
will continue to prioritise training onleadership and management skills,
empower our employees to diversify
their skills sets and exposure, andinvest in initiatives that promote
greater diversity and internationalism
in our organisation.
Besides our direct workforce, we arealso conscious of the duty of carewe owe to our seafarers, who haverisked their lives and wellbeing tokeep global supply chains stable andcargo moving. To help resolve thecrew change crisis keeping seafarers
stranded at sea and separated fromloved ones, ONE initiated and signed
the Neptune Declaration on Seafarer
Wellbeing and Crew Change in 2021
alongside 850 fellow signatories
across the maritime supply chain.
In the same year, we walked thetalk on welfare support by donating£60,000 to The Mission to Seafarers
Charity, allowing us to finance aholistic range of initiatives including

5

emergency support and mental
health programmes.
Looking ahead to 2022 and beyond,we will continue to innovate andimprove upon our fundamentals.
Following the launch of our mobile
application, we will refocus ourefforts on the development androll-out of the ONE FORCE ande-commerce platforms, offering ourcustomers a comprehensive suite ofdigital solutions for all their shippingneeds. In line with our prevailingenvironmental philosophy andnet zero commitment, we will also
double down on our fuel efficiency
efforts and lead the way in signallingdemand for green fuels in themaritime sector.
I would like to express my sincere
gratitude to our employees,
customers, shareholders andpartners for their unrelenting support
throughout these trying times.
While materialising zero-emission
vessels and fuels at the scalerequired by the green transition
remains a monumental challenge, I
am confident that with all hands on
deck, we can work towards a moresustainable and inclusive future.
Sincerely,

Jeremy Nixon
Chief Executive Officer

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

Environment

Operational Excellence

SocialGovernance

Performance Data

GRI Content Index

UNGC Index

7

Appendix

Scale of Operations*Figures here are as of 31 Dec 2021

About ONEONE is our name and our purpose.
Everyday, we work as ONE toconnect countries and regions
through our service and activities.

7,799 employees
in 52 countries

US$ 30billionacross 41 local
entities and a
Global HQ

in total revenue

Fleet of 211
vessels, including
46 super large
vessels of 14,000
and 20,000 TEUs

Company Profile

ONE is one of the largest
container shipping lines in
the world by fleet size, withan extensive liner network
covering more than 120
countries internationally. ONE
was formed in 2018 throughthe integration of the container
shipping services of three
Japanese shipping companies
Kawasaki Kisen Kaisha, Ltd. (KLine), Mitsui O.S.K. Lines (MOL)
and Nippon Yusen Kaisha(NYK). NYK owns a 38% holdingin ONE while MOL and K Lineown 31% each.

value-added services suchas market intelligence,
e-commerce services andprocurement of operation
assets.
Our shipping services arecapable of transporting
container types including
Dry containers for generalcargo, Reefer containers forfrozen or chilled cargo, Flat
Rack containers for heavy
lift, overheight and/ or overwidth cargo and Open Top
containers for overheight
and/or lengthy cargo.

All our vessels are chartered
vessels. As a ship operator,
ONE is responsible forvessel operations andlogistics, such as schedulingand voyage instructions,arrangement of bunkers, andso on. Nonetheless, we work
closely with vessel owners,
who are responsible for the
maintenance of vessel quality
and for the crew on board.
Our Marine Safety and Quality(MSQ) Department works
closely with the ship owners toensure safe operations.

Total vessel
capacity of350+ vessel port
calls and 145

1.5 million
TEUs

service loops

ASIA – NORTH AMERICA

RHQ
LondonEUROPE – NORTH AMERICAINTRA EUROPE
EAST ASIA
RHQ
Richmond

AFRICAASIA – EUROPE
WEST ASIA

Value Chain of ourBusiness

ONE offers end-to-end shipping
services for businesses
including inland services byrail, barge or truck in addition
to coastal services. We ship awide range of goods, with major
categories including consumer
products, machinery, auto-parts,
electrical goods, industrial andconstruction goods, chemicals,
food products, wood products,
agricultural goods, metal
products, and pharmaceuticalproducts. We also provide

Serving more than

19,500 customers
in 109 countries

RHQ
Hong Kong

GHQ/RHQ
Singapore

LATIN AMERICA

OCEANIARHQ
Sao Paulo

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

Environment

Operational Excellence

SocialGovernance

Performance Data

GRI Content Index

UNGC Index

Appendix

9

Our Core Values

Our core values define what we stand for and guide our decisions and behaviours. They areembedded in our Business Credo, Code of Conduct and other policies.

LEAN & AGILE

BEST PRACTICEQUALITY

Breaking through conventions
to make ideas into reality
quickly

Continuing to improve ourselves
based on the knowledge
cultivated internally and externallyto deliver the best services

Pursuing the best qualitythat always exceeds
customer expectations

INNOVATIONTEAMWORKCHALLENGE

Delivering services that
contribute to the customer’sbusiness through self innovationand creativity

Respect individual diversity
to build a team that can work
together to create new value

Leveraging on individual
strengths and continuingto meet challenge without
fear of failure

ONE recognizes our rolein providing safe andreliable services while
meeting our customers’
expectations andmaintaining their trust.
At the helm of our brand,
ONE’s Business Credo
articulates eight principles
reflecting how we want to
do business.

ONE’s Business Credo
1. GOOD FAITH BUSINESS ACTIVITIESWe respect national competition laws, engage in business practices that are fair,transparent, freely competitive, and appropriate, and do not tolerate bribery or
corruption in any form.
2. ENVIRONMENTAL AND SAFETY INITIATIVES
We undertake initiatives to enhance safety and preserve the marine
environment and natural ecosystems, and seek to develop and refine safe,
environment-friendly transportation technologies.
3. ENHANCED SECURITY
We have established strong security measures to prevent the disruption andabuse of international logistics networks, prohibiting any type of illegal activity
and the unauthorized access and leakage of information.

RELIABILITYCUSTOMERSATISFACTION

Delivering stable,
sustainable andprofessional services

Focus on customer needs welland deliver satisfaction thatexceeds expectations

4. COMPLIANCE WITH LAWS AND ORDINANCES, RESPECT FOR
HUMAN RIGHTS
We recognize our role in society and act in a manner that is fair and just bycomplying with national laws and ordinances and international norms. Corporate
activities should adhere to social mores, respect human rights, honor local
customs and practices, and address the concerns and interests of stakeholders.
5. EXCLUSION OF ANTISOCIAL ACTIVITIESWe resolutely stand against all antisocial forces and organizations that threaten
the order and safety of civic life.
6. DISCLOSURE OF INFORMATION AND COMMUNICATION WITH SOCIETY
We disclose corporate information in a proactive and fair manner, rigorously
protect and manage the privacy and personal information of our customers,
employees and everyone involved in our business activities.
7. SOCIAL CONTRIBUTION ACTIVITIESWe proactively contribute to social activities as a good corporate citizen.
8. PRESERVATION OF FAVOURABLE WORK ENVIRONMENTS
We respect the diversity, individuality, and humanity of employees and facilitate
the activities of a diverse workforce. We make every effort to preservefavourable work environments.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

Corporate GovernanceONE’s Holding Company (HoldCO)
in Japan oversees the governanceof our global headquarter in
Singapore (ONE GHQ). As acompany registered in Japan,
Hold Co is held to comply with
the Companies Act, Corporate
Governance code, which includes
the need for an audit by external
auditors for internal control
systems.
ONE GHQ oversees thegovernance of regional offices,branches, subsidiaries and jointventures, with delegation toregional headquarters (RHQs).
RHQs are situated in Hong Kong,
Singapore, United Kingdom (UK),the United States of America (USA)and Brazil. RHQs oversee over 160
local representative offices that
handle cargo coming into the local
ports.
The Board has overall
responsibility for performing theduties of strategic planning andproviding oversight, including
for the company’s sustainability
strategy. They are supported bythree key functional Divisions,which work closely with theCompliance Committee andBusiness Strategy Committee.

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

Environment

REPORT
2021
OperationalSUSTAINABILITY
Excellence Social
Governance

Performance Data

GRI Content Index

UNGC Index

Corporate Governance chart
HOLDING COMPANY(HoldCO)

HoldCo Shareholder
meeting

Board of Directors• Audit-Supervisory
Board Member• External Auditor

Representative
Directors

Internal Audit(HoldCo)OPERATING COMPANY(OpCO)GLOBAL MARITIME FORUM:
An international non-profit
organization committed
to promoting the shipping
industry. ONE is a signatory to
the Global Maritime Forum’s
Call to Action for Shipping
Decarbonization of shippingin line with the International
Maritime Organization’s(IMO) strategy.

SINGAPORE SHIPPINGASSOCIATION (SSA):
Singapore’s national tradeassociation to serve and promote
the interests of its members andto enhance the competitivenessof Singapore as an International
Maritime Centre. As a member,
ONE actively participates in forums,
as well as feedback and dialogs
sessions with key regulatory
agencies and international
maritime organizations.

WORLD SHIPPING COUNCIL (WSC)
A trade group representing theinternational shipping industry. Asa member, ONE collaborates withother companies and governments
to develop actionable solutions for
global transportation issues andpromote environmental stewardship.
ONE’s CEO Jeremy Nixon has
been nominated and acting as cochairman since November 2020.

Awards and Certifications
OpCo Shareholder
meeting
Compliance
Committee

Board of Directors

Risk Management
Committee

External
AuditorCEO

Corporate strategy
meeting

Internal Audit(GHQ)

Divisions of GHQ

Corporate & Innovation

Product & Network

Marketing & Commercial

AEO (Authorized Economic
Operator):
ONE obtained AEO status in UK(2019) and Netherlands (2018). AEO
is defined by the World Customs
Organization SAFE Framework ofStandards as a party involved in theinternational movement of goods
that has been approved by anational Customs administration ascomplying with WCO or equivalent
supply chain security standards.

ISO14001 (ENVIRONMENTMANAGEMENT SYSTEM):
An international environment
management system standard
set by the International
Organization for Standardization(ISO). ONE GHQ received
ISO14001:2015 certification in2018 from ClassNK and ONE
EUA received the certificationin 2021 from British Standards
Institution (BSI).

Industry Memberships and Associations

CLEAN CARGO:
A business-to-businessleadership initiativethat involves major
brands, cargo carriers,and freight forwarders
dedicated to reducing
the environmental
impacts of global
goods transportationand promoting
responsible shipping.

11

Appendix

DIGITAL CONTAINERSHIPPING ASSOCIATION(DCSA):
A non-profit organization
founded in April 2019by MSC, Maersk, CMA
CGM, Hapag-Lloyd, ONE,
Evergreen, Yang Ming, HMM
and ZIM to establish IT
standards that would enableinteroperability of technology
solutions across the industry.

GLOBAL COMPACTNETWORKSINGAPORE (GCNS):
The local chapter of
the United Nations
Global Compact(UNGC). As a member,
ONE endorses the ten
UNGC Principles in theareas of Human Rights;
Labor; Environment;
and Anti-corruption.

GLOBAL CENTRE
FOR MARITIMEDECARBONISATION (GCMD):GCMD was set up in 2021 asa non-profit organization to
support decarbonization of
the maritime industry to meetor exceed the International
Maritime Organization's (IMO)
goals for 2030 and 2050.
ONE is one of the 6 founding
members.

CTPAT (Customs Trade Partnership
Against Terrorism):
ONE joined CTPAT, a voluntary
public-private sector partnershipprogram, since 2018, to work with the
U.S. Customs and Border Protection
to protect the supply chain, identify
security gaps, and implement specificsecurity measures and best practices.
CTPAT members are considered to beof low risk, and are therefore less likely
to be examined at a U.S. port of entry.

ECOVADIS:
ONE received a silver medalfrom business sustainability
ratings specialist EcoVadis
for our commitment todriving sustainability inour business through ourpolicies, actions, and resultsin 2021, putting us in the top
20% of companies rated by
EcoVadis in our industry.

ISO9001:2015 (QUALITYMANAGEMENT SYSTEM):
An international standard
set by the International
Organization forStandardization (ISO) thatspecifies requirements
for a quality management
system. We have received
our ISO9001:2015 certificate
in 2021 from ClassNK.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONE Our Approach to Sustainability

Our Sustainability Progress

Environment

REPORT
2021
OperationalSUSTAINABILITY
Excellence Social
Governance

Performance Data

GRI Content Index

UNGC Index

13

Appendix

Our ESG+O Framework

Our Approach to
Sustainability

To be sustainable and resilient, and a trusted partner for ourcustomers in delivering global shipping solutions.

OUR SUSTAINABILITYPRIORITIESAs the industry responsible for transporting
over 80% of world trade flows1, shipping plays acentral role in moving global supply chains.

Sustainability at ONE

However, the mass transportof goods does not comewithout a large and growing
environmental footprint.
While shipping remains
the most efficient mode ofinternational transport interms of emissions intensity,
the industry has garnered a
reputation as a hard-to-abate
sector due to its traditionalreliance on fossil fuels anddiverse and disaggregatednature.
At the same time, risinginternational trade and thecontinued growth of maritime
traffic threatens to increase
maritime emissions, with
the International Maritime
Organization (IMO) estimatingthat emissions from shipping

1
2

could increase by as muchas 130% from a 2008
baseline by 20502.
As one of the largest
container carriers in theworld by fleet size, ONE
recognizes the role weplay not only in mitigating
the impacts from ouroperations, but also inadvancing sustainability inthe shipping industry andhelping customers reduce
their Scope 3 emissions.
Additionally, by leveraging
partnerships across value
chains, we can develop
a common pathway todrive practical and realistic
solutions that deploy green
technologies at the scalerequired to facilitate thetransition to net zero.

That is why in 2019,
we developed
our sustainability
strategy to focus ourefforts around fourareas of priority:
1. Environment;
2. Social;
3. Governance; and4. Operational Excellence
These priorities are basedon the material sustainability
topics that drive long-termvalue for our business and our
stakeholders. Underpinningour priorities is our Business
Credo, which forms thecore of ONE’s commitment
to embedding responsible
business practices.

https://unctad.org/webflyer/review-maritime-transport-2021
https://wwwcdn.imo.org/localresources/en/OurWork/Environment/Documents/Fourth%20IMO%20GHG%20Study%202020%20Executive-Summary.pdf

Environment

SocialGovernance

We protect theenvironment andecosystems we alldepend on by taking
action on climate change,
preventing marine
pollution and using
resources responsibly.

We nurture and empower
the people in our businessand the communities we
operate in, by managing
our talent, protecting
their health and safety,
respecting their humanrights and supporting local
communities.

We uphold the highest
standards of ethicalbusiness conduct andcorporate governance,in compliance withregulation and our own
internal policies.

Operational
Excellence

We drive operational
excellence throughdigitalization to enhancecustomer experience andensure safe operations.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONE Our Approach to Sustainability

Our Sustainability Progress

Environment

Operational Excellence

OUR IMPACT ON SDG 7:

AFFORDABLE AND
CLEAN ENERGY
Underlying targets that we contribute to:
7.2 By 2030, increase substantially the share of
renewable energy in the global energy mix
7.3 Double the global rate of improvement in energy
efficiency by 2030

Supporting the United
Nations Sustainable
Development Goals

The Sustainable Development
Goals (SDGs) were adopted
by the United Nations in 2015as a universal call to action
to end poverty, protect theplanet, and ensure that by
2030, all people can enjoy
peace and prosperity. We
believe that businesses play
an important role in creating amore sustainable future. That
is why we joined the United
Nations Global Compact(UNGC), which calls on allcompanies to take action
in support of the SDGs andalign their business practices
with ten universally accepted
principles in the areas ofhuman and labor rights,
environmental protection andanti-corruption. As an active
participant of the UNGC, thisreport also serves as our
Communication on Progress
Report (COP). Please refer tothe UNGC reference table forour implementation of the ten
principles of UNGC on page62.

At the beginning of 2022,
we launched our Green
Strategy, which outlines our
vision to become a leader
in shipping decarbonization
and achieve carbon net zero
shipping. Our new green
strategy direction also aligns
and directly contributes tothe four previously identified
priority SDGs which we
believe we can have thebiggest impact on. While
our business activities touchon all 17 interrelated SDGs,
either directly or indirectly,
these four SDGs are of thegreatest relevance to ONE’s
business and sustainability
priorities and represent
opportunities where we canbest contribute to sustainable
development.
In addition to the following
four priority SDGs, we havealso identified SDGs 4, 5, 8,
12, 16 and 17 as relevant toONE’s overall sustainability
agenda, constituting
secondary focus areas where
ONE’s activities can positively
contribute to.

OUR IMPACT ON SDG 9:

INNOVATION AND
INFRASTRUCTURE
Underlying targets that we contribute to:9.4. By 2030, upgrade infrastructure and retrofit
industries to make them sustainable, with increased
resource-use efficiency and greater adoption of clean
and environmentally sound technologies and industrial
processes, with all countries taking action in accordancewith their respective capabilities
Our activities and initiatives:
ONE has detailed an aggressive growth plan that includes
a USD 20 billion investment in our fleet and operations

OUR IMPACT ON SDG 13:

CLIMATE ACTION
Underlying targets that we contribute to:13.1 Strengthen resilience and adaptive capacity to
climate related hazards and natural disasters in all
countries
13.3 Improve education, awareness raising and humanand institutional capacity on climate change mitigation,
adaptation, impact reduction, and early warning.

OUR IMPACT ON SDG 14:

LIFE BELOW WATER
Underlying targets that we contribute to:14.1 By 2025, prevent and significantly reduce marine
pollution of all kinds, particularly from land-based
activities, including marine debris and nutrient pollution

SocialGovernance

Performance Data

GRI Content Index

UNGC Index

Appendix

15

Ensure access to affordable, reliable,
sustainable and modern energy for all
Our activities and initiatives:
As part of our Green Strategy, we are developing analternative fuel roadmap to replace conventional marine
fuels. Since the beginning of 2021, ONE has been
exploring the use of biofuels to power our fleet and havesince conducted three successful trials. Besides biofuels,
we are also looking into alternative solutions such as
ammonia, methanol, and hydrogen. We will continue tostudy these fuels to determine their long-term suitability
and engage with industry partners to develop theinfrastructure necessary to realize these solutions.
In line with the Call to Action for Shipping
Decarbonization, ONE has also set a target to deploy its
first alternative fuel ships by 2030.

Build resilient infrastructure,promote inclusive and sustainableindustrialization and foster innovation
by 2030 to fulfill growth demand from customers anddecarbonization targets. Investments will go toward
upgrading our fleet with a new generation of green
vessels and developing digital solutions to improve
operational efficiency and customer experience while
enhancing environmental sustainability.

storage (CCUS) technologies. ONE, together with fiveother industry leaders, also signed a memorandum ofcooperation (MoC) with the Maritime and Port Authorityof Singapore (MPA) to establish a fund for a maritime
decarbonization center to support decarbonizationrelated research and technology development projects.

We also support maritime decarbonization initiatives
both inside and outside of our own operations. Besides
alternative fuels, ONE is looking at ways to reduce
emissions from our fleets through carbon capture andTake urgent action to combat climatechange and its impacts
Our activities and initiatives:
We have set a clear vision to become a leader in shipping
decarbonization. In 2021, we became a signatory of theCall to Action for Shipping Decarbonization and havecommitted to achieving net zero emissions by 2050. To
meet this target, we have outlined 5 key decarbonization
initiatives in the areas of green investments, alternative

fuels, carbon management, operational efficiency andindustry collaborations as part of our Green Strategy.

Conserve and sustainably use the oceans, seas and marine
resources for sustainable development
Our activities and initiatives:

14.2 By 2020, sustainably manage and protect marine
and coastal ecosystems to avoid significant adverse
impacts, including by strengthening their resilience, andtake action for their restoration, to achieve healthy andproductive oceans

ONE is committed to the protection of the oceans
including preventing pollution from accidental spills andoperational discharges. In adherence to our stringent
Vessel Quality Standard (VQS), we work closely withshipowners to ensure compliance with international
conventions on ballast water management, anti-foulingsystems and effluent discharge to prevent adverse
impacts on marine ecosystems.

14.3 Minimize and address the impacts of ocean
acidification, including through enhanced scientificcooperation at all levels

We also implement a speed reduction program for our
vessels to reduce noise pollution and ship strikes tomarine animals in coastal areas.

As part of our CSR activities, our employees organize andtake part in beach cleaning activities. Although we wereunable to conduct our usual CSR activities in 2020 due
to the COVID-19 pandemic, we resumed activities in 2021
and organized our first global clean-up event in honor ofWorld Clean Up Day in September of last year.
At the beginning of 2022, we also launched our#OneOcean project, where we donated $20,000 to theSingapore Garden City Fund (GCF) to support its coral
reef conservation efforts. As part of this initiative, ONE isalso planning an internal awareness program at St. John’sIsland for employees to learn more about Singapore’s
marine biodiversity.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONE Our Approach to Sustainability

Our Sustainability Progress

Environment

SUSTAINABILITY GOVERNANCE

Our Board of Directors at Global Headquarters (GHQ), which includes our Managing Director and CEO, drive thecompany’s sustainability strategy and growth. They are supported by the Business Planning Team, who initiates andcoordinates sustainability initiatives across the company at the GHQ, Regional Headquarter (RHQ) and local officelevels.

MATERIALITY ASSESSMENT

In 2020, we worked with specialist sustainability consulting firm Corporate Citizenship to conduct an assessment ofour most material sustainability topics. We followed a four-stage process which included:

1
CONTEXT AND TOPICIDENTIFICATION
Conducted desk based research and abenchmarking exercise to identify relevant industry
trends and sustainabliliy issues, developing ashortlist of sustainablity topics to be prioritized.

2
SURVEYS
Launched an online survey for internaland external stakeholders to prioritize
the shortlist of sustainability topics
identified in the previous stage.

3

4

INTERVIEWSANALYSIS AND VALIDATION

Conducted a series of interviews withcustomers and shareholders to gather
further insights into the sustainability
context of ONE and the industry.

Analyzed and presented the findings
and results to the senior management
team at ONE, before finalizing
the list of material sustainability topics.

In the beginning of 2021, we conducted a review of our material topics to determine whether any new material
topics have emerged, or if there is a shift in the importance and impact of the current topics. This was in light of theunprecedented pandemic situation, which significantly disrupted economies and societies.
While our list of material sustainability topics remained unchanged, certain topics like climate change, employee
health and wellbeing, and digitalization have become more salient over the year. The risks and opportunities
presented by these topics were also taken into consideration as we review our enterprise risk heatmap as part of
Our Approach to Risk Management (see page 47).

Operational Excellence

SocialGovernance

Performance Data

GRI Content Index

Our Material
Sustainability Topics

UNGC Index

17

Appendix

Direct Impact:

Topics ONE can directly
influence and manage

Indirect Impact:

Topics ONE can indirectly
influence and manage
by working with partners
including vessel owners
and other stakeholders
along the value chain

Material Topics: Sustainability topics that are of high importance to the business and medium to high importanceto stakeholders. These form the focus of ONE’s strategy and reporting.

CustomerExperience

Ensuring high-levels of service
quality and reliability to maintaincustomer satisfaction and loyalty.

MarinePollution andConservation

Preventing ocean pollution andprotecting marine life throughthe responsible management ofballast water and the preventionof spills/leakages.

Container and
Cargo Safety

Ensuring the safe operationof ships and the safe handlingof containers.

Employee
Health, Safety
and Wellbeing

Protecting the health, safety andwellbeing for our employees
and contractors.

EthicalBusiness
Conduct

Ensuring adequate systems andprocesses are in place to upholdthe highest standard of ethicalbusiness conduct, including
measures to promote anticorruption and fair competition.

ClimateChangePutting measures in place
to reduce energy use andgreenhouse gas (GHG) emissions,
including SO2 and NOx, across
our operations. Building resilienceagainst climate change risks.

Innovation and
Digitalization

Engaging in industry collaborationand partnerships for innovationin marine technology andstreamlining our operations
through digitalization.

TalentManagement

Attracting highly-skilledindividuals, providing training anddevelopment opportunities andpromoting a diverse and inclusive
workplace, to build a highperforming shipping company.

OCEAN NETWORK EXPRESS (ONE)18 SUSTAINABILITY REPORT 2022

CEO Message

About ONE Our Approach to Sustainability

Direct Impact:

Topics ONE can directly
influence and manage

Our Sustainability Progress

Indirect Impact:

Topics ONE can indirectly
influence and manage
by working with partners
including vessel owners andother stakeholders along
the value chain

Relevant Topics: Sustainability topics that are of medium importance to the business and of sufficient interest to
stakeholders to warrant disclosure as relevant.

Supply Chain
Management

Mitigating the environmental,social and governance risks
in our supply chain throughresponsible procurement
practices.

Supporting Local
Communities

Supporting communities in
need, through education
programs, logistical support
during natural disasters, andenvironmental awareness.

Human Rights andLabor Practices

Respecting human rights
and having zero tolerance
for all forms of child labor,
forced labor or other forms of
exploitation.

Recycling andDisposal of
Materials

Minimizing the amount ofwaste generated and ensuring
the safe disposal of hazardous
materials, including during thedismantling of ships at the endof their lifecycle.

Responsible
Tax Practices

Managing increasingly
complex tax laws and ensuringtransparency on our approachto tax payments.

Illicit Trade

Combating human trafficking
and the illegal trafficking ofgoods such as narcotics andendangered wildlife.

Piracy andSecurity

Adopting proper measures
to prevent attacks and the
hijacking of our commercial
vessels as well as protecting
our business systems throughcyber security.

Environment

Operational Excellence

SocialGovernance

STAKEHOLDERENGAGEMENT

Performance Data

An important tenet of ourapproach to sustainability is
engaging our stakeholders
and being accountable andresponsive to their concerns. We
value our stakeholders’ opinions
and feedback to ensure weare continuously improving ourpractices and performance.

GRI Content Index

19

Appendix

UNGC Index

Our stakeholders have been
identified and prioritized based on
the impact our activities have on
them, their knowledge of the sector
and ONE, as well their importanceto the success of our business.
We engage our stakeholders
throughout the year, both formallyand informally, through a varietyof channels. Our engagements

focus on better understanding
stakeholder needs andexpectations as well as seeking
collaborative ways to work andachieve shared objectives.
For details on our stakeholder
engagement, including the mode ofengagement for each stakeholder,please see the stakeholder
engagement table found in the
Appendix on page 63.

Employees

Customers

Local
Community

OUR KEYSTAKEHOLDERS

Suppliers

Shareholders

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress Environment

Our Sustainability
Progress

Operational Excellence

SocialContainer
and Cargo
SafetyThis section summarises our progress against key targets and commitments which were established to manage ourmaterial sustainability topics.

Governance

Performance Data

GRI Content Index

UNGC Index

Targets/Commitments

Current Actions• Zero large-scale or fatal accidents• No large-scale or fatal accidents reported.

• Average downtime per vessel due toaccidents or problems onboard was ~42.5
hours due to 6 isolated high downtime
vessel incidents. We will continue to monitor• Less than 14 hours of average downtime per
and analyze accidents to identify areas ofvessel per year, while working towards goal of
improvement, and uphold our stringent
zero downtime
approach to vessel safety as embodied
within our Vessel Quality Standard (VQS).
Read more about how we ensure cargo andcontainer safety here

Targets/Commitments

2021 performance• *By 2050: Achieve net zero emissions for our
Scopes 1, 2 and 3 emissions• Due to global supply chain disruptions
resulting in operational inefficiencies that
offset the gains we made in fleet fuel
• *By 2030: 70% reduction of Scope 1 emissions
efficiency, we did not manage to continue
per TEU-km from a 2008 baseline*
the downward trend in emissions intensity*Enhanced targets
reduction since 2018.
• Going forward, we will push forth with
our Green Strategy and address 5
decarbonization areas to reach our targets

SocialEmployee
Health and
SafetyMarine• Maintain 100% compliance with IMO2020
Pollution andsulphur limit
Conservation • ONE will work with chartered vessels toensure zero significant spills(A significant spill is defined as more than 150 liters
overboard/case)

employees, embracing all employees as ONE,irrespective of our diverse backgrounds• No significant spills reported for past 3 years
but 1 incident of spill due to leakage by achartered vessel in 2021.
Human Rights
and Labor
Practices• 100% of customer bookings done via digitalplatform by 2025
• 100% rollout of Customer Live Chat platformby 2022 (except 3rd party agents)

Read more about how we protect our people
here• Average training hours of 11.2 per employee• For 2021 employee engagement survey,
more than 90% participation rate and 82%
engagement score recorded• *Train 100% of employees on a new e-learning • 92% of employees trained on Modern Slavery
course on the Modern Slavery Act by 2022
Act
*New

Read more on our environmental protection
efforts here

Operational Excellence• Maintained zero fatalities since 2018

• *At least 8 hours of average training hours per• To promote greater diversity and inclusion
employeewithin ONE, we are looking to set up a
• *Achieve more than 90% participation rate forDiversity and Inclusion Committee at GHQ in
employee engagement survey and maintain2022/2023 to drive this agenda
75% engagement score or higher
Read more about our talent management*New
initiatives here

• 100% compliance with IMO2020• Continued participation in voluntary Vessel
Speed Reduction programs to protect
endangered whales as well as reduce air
pollution and underwater noise.

• Ensuring the health and safety of ouremployees, striving for zero fatalities

Talent• We are committed to developing a diverse
Management
and inclusive workforce of engaged

Read more about our Green Strategy here

CustomerExperience21(Large-scale accident is defined as an accident withpossible loss of life, major impact on seaworthinessof vessel, or major damage to third party facilities)

Environment
ClimateChange(including
Energy)Appendix• ONE signed the Neptune Declaration for
Seafarer Wellbeing and Crew Change to put
our weight behind the immediate resolution of
the international crew change crisis

Governance• >90 % of bookings done via digital platform• Live Chat rolled out to 42 countries (nearly
30%)
Read more on our digitalization efforts here

EthicalBusiness
Conduct• We commit to conducting our business withthe highest standards of ethics and integrity,
as set out in our Business Credo.

• 100% of current employees completed
mandatory compliance e-learning, including
on the ONE Basic Anti-Bribery Policy• Held 12 virtual compliance workshops inwebinar style, as well as 248 Compliancegroup training sessions globally.
• Over 99% of our employees globally
completed 25,855 Compliance e-Learning
courses on 14 Key Compliance topics
Read more on Ethical Business Conduct here

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

Environment

Operational Excellence

SocialGovernance

Performance Data

GRI Content Index

UNGC Index

23

Appendix

Environment
Our commitment to achieve our environmental
goals and invest in green technology and talentis our top priority going forward as a responsible
corporate citizen.
Yasuki Iwai, Managing Director

As the world continues to battle
the COVID-19 pandemic, therole of global maritime transport
in today's economy is more
important than ever. Emissions
from the shipping industry
contribute to 3% of global
emissions, a figure that could
grow to 17% by 2050 if actions
are not taken. As the impactsof climate change intensify,pressure is mounting on the
shipping industry to take action.
As a responsible container
shipping business, we seek
to minimize the environmental
impacts of our operations.
We do this by continuallydeveloping and implementing
measures to reduce our GHG
emissions, protect marine
life and ensure compliancewith the relevant international
industry regulations.
Guided by our vision to
become a leader in shipping
decarbonization, weestablished our Green Strategy
Department (GSD) in 2021 todrive ONE's environmental
sustainability endeavors. The
department is responsible fordesigning and implementing
strategies to integratesustainability into our broader
business strategy andobjectives.

ONE’S GREEN
STRATEGY

We launched our Green
Strategy at the beginningof 2022, articulating ourfull commitment towards
achieving green excellence
and the vision, mission andtargets we will work toward.
ONE will make continuous
investments in greener
assets and technologies,
as well as engage in open
collaboration with industry
stakeholders to realize ourgreen ambitions.
We have set out a
Decarbonization Roadmap
that plots our trajectory tomeet our net zero ambitions
by implementing several
environmental targets
surrounding key initiatives
outlined as part of our Green
Strategy. Further details onthese initiatives can be foundon Pg. 24.

ONE GREEN STRATEGY
Decarbonization targets

Green Vision
To be a global leader inthe realization ofenvironmentally
sustainable shipping.

Green Mission

Emission intensity:
To Reduce Scope 1 GHG emissions
by 70% per TEU km by 2030.
Absolute emissions:
Achieve net-zero GHG emissions(including scope 2 & 3) by 2050.

Environmental Compliance
Ship Recycling:
Ensure partner yards comply
with the highest internationallyrecognized standards.

We will achieve carbon
net-zero shipping in order toprotect our planet via lean andagile best practices and open
collaboration.

Environmental conversation:
Ensure ZERO significant spills
for all velssels.

Our Roadmap to Meet Net Zero by 2050
Green Strategy
Department set up todrive decarbonization

2019

ONE established2018

First CO2
reduction
targets set

2021

2022

Obtain zero
emission vessel AIP
Launch low emissions
service offeringNet-zero ambition
established with Green
Strategy launched

2023

Achieve net-zeroemissions acrossScopes 1, 2 and 3

2030

70% reduction inemission intensity
Deploy firstalternative fuel ships

2050

Green investments of USD12 billion by 2030

Carbon Management

Operational Efficiency

Green Investment

Alternative Fuels

Ecosystem Building

Transition into a
low-carbon economy

Be the most operationally efficientmaritime container carrier

Invest in green hardware,technologies and talents toimprove emissions reduction

Develop a transitional plan andbuild infrastructure for sustainableshipping fuels

Collaborate with cross-functional
stakeholders to decarbonize theshipping industry

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

MITIGATING CLIMATECHANGECEO Message

In 2018, we set a GHG emission
reduction target in line with theambitions of the International Maritime
Organization (IMO) to reduce Scope
1 CO2 emissions per TEU-km by 50%
from a 2018 baseline by 2050 and
an intermediate target to reduce CO2
emissions per TEU-km by 25% by2030. As we reach a tipping point in
our fight against climate change, thesemeasures are no longer enough to stayin line with the Paris Climate Agreement
Goals and there is increasing pressure
for the IMO to align their targets withnet zero by 2050.

About ONEOur Approach to Sustainability

In response to this, ONE becamea signatory of the Call to Action for
Shipping Decarbonization in 2021
which urged the shipping industry to
deploy commercially viable zero-

By 2030:70%

reduction of
Scope 1 emissions
per TEU-km froma 2008 baseline*

Our Sustainability Progress

Environment

emission vessels by 2030 and set
a target for zero-emission shippingby 2050. We have updated our
GHG emission targets to reflect ourcommitment to this ambitious goal:

By 2050:
Achieve

net-zeroemissions for our
Scopes 1, 2 and 3
emissions per TEU-km* In order to align with IMO, we have redeveloped our 2030 target using a 2008 baseline. While ONE was not in operation until 2018, these vessels
were operating in 2008 under the three Japanese companies, K Line, MOL and NYK, whose container shipping businesses were integrated to form
ONE. We have calculated our 2008 baseline based on the container vessel activities of the three companies.

To meet these targets, our Green Strategy addresses 5 key decarbonization initiatives:

CarbonManagement• Deploy internalcarbon pricing
scheme• Develop low-carbon
service offering;• Study green relatedtech. such as CCS

Carbon Management
and Operational
Efficiency• Further
improvement offuel efficiency andother programs• Vesseldigitalization
programOperational
Efficiency

In 2021, we continued withinitiatives aimed at improving
our operational and fleet fuelefficiency, to reduce energy
consumption and carbon
emissions. These include:

Green
Investment• Invest and upgradeof hardware assets• Invest into green
related technologies• Invest into green
talents andexpertise

Improving operational efficiency:• Ensuring optimum schedulingand shorter port stay times toincrease trip efficiency• Slow steaming where possible• Use of shore electric power
where facilities are available• Monitoring of marine weather for
better navigational performance• Develop alternative
fuels roadmap• First alternativefuel ships to be
deployed and zero
emission vessels
AIP by 2030

Community
Ecosystem
Building

Alternative
Fuels• Call to Action
for Shipping
Decarbonization• Open collaboration
activities such as
GCMD, academic
partnerships etc.
• Supplier policy

Enhancing fleet fuel efficiency:• Maintenance of hulls and propellers to reduce
friction caused by fouling• Installed special fins for propellers to improve
propulsion efficiency and reduce fuel consumption• Other technical modifications and maintenance tooptimize fleet performance• Use of in-house fleet performance monitoring
system to understand the impact of our efficiency
measures and seek continuous improvement

Operational Excellence

SocialGovernance

Performance Data

With these measures, we have
reduced our Scope 1 emissions
intensity by approximately 10% from2018 to 2020. In 2021, we did not
manage to continue our downward
trajectory toward our target of 70%
reduction in emissions intensity by
2030 and instead saw an increaseof 3%. This increase is largely due
to global supply chain disruptions
resulting in operational inefficiencies
that offset the gains we made infleet fuel efficiency.
Bolstered by our rapid development
and success in the first four yearsof operation, we have detailed
an aggressive growth plan for
the remainder of this decade andplan to invest USD 12 billion in our
fleet and operations by 2030 tomaintain a best-in-class supply
chain for our customers and meet
decarbonization targets.
A large portion of investments will
go towards upgrading our fleet
to accelerate our transition to net
zero. As environmental regulations
continue to tighten in the coming
years, less efficient ships will need
to be slowed down or removed fromservice entirely. We therefore seek

GRI Content Index

UNGC Index

25

Appendix

to gradually replace our fleet witha new generation of green vessels.
That involves looking at the latest
trends and technologies to ensurethat we make smart decisions thatwill withstand any short, medium
and long term. With the objectivesof driving energy efficiency andlow-carbon transition, ONE applies
an internal carbon price to add
an environmental aspect to ourevaluations for CAPEX investments,
including alternative-fuel vessels,
thereby placing greater value onsustainability.
A smaller portion of investments will
go towards digitalization initiatives.
By using data analytics to analyze
our operations, we hope to beable to optimize container flow andinventory management, to reduce
our emissions.
On the supply side, we seek
to develop low-carbon service
offerings for our customers. In
addition to alternative fuel vessels,
we plan to develop green corridors,
specific trade routes between major
port hubs where zero-emission
solutions are supported andmake these routes commercially

Emissions Intensity (gCO2e/TEU-km)
50

48.36
46.79
43.67

44.81

2020

2021

40

30

20

10

0

2018

2019

Please refer to the Performance Data section on
Page 50 for full data on emissions and energy
consumption.

available. This low-emission service
offering is set to launch in 2023.
To further raise awareness of theenvironmental impacts of consumer
choices, we are looking to provide
our customers with an estimation of
the carbon footprint of their shipments/ of different voyage options so they
can make an informed decision. We
are in the process of developing
an online carbon calculator which
ONE customers can access directly
to calculate their carbon footprint
between port pairs, which we aim to
make available by the end of 2022.

ONE Europe and Africa Achieve ISO 14001 Certification
for Landside Operations
ISO 14001 certification is a globally
recognized credential which
demonstrates an organization
has adopted an approved
environmental management
system (EMS) to control theirenvironmental impact andenhance sustainability throughout
their supply chain. ONE EUA
began its journey to obtain
ISO 14001 certification at the
beginning of 2021 for its landside operations and achieved fullcertification in December 2021.

ONE EUA has been working
tirelessly to bring in new processes
to enhance its environmental
performance and the implementationof ISO 14001-certified management
system will complement the robust
environmental standards that thecompany already adheres to. The
EUA region has a very high level ofcarrier haulage and as such, we are
currently working on increasing theuse of eco-friendly means of transport
and the number of reloads to reduce
empty mileage. To do this, we aretapping on the latest technology anddeveloping a software application
for transport optimization as well as
emission calculations.
These efforts are part of ONE EUA's
green initiatives in line with the regional“Go Green Go ONE” campaign tosupport ONE's Green Strategy andnet zero target. Besides ISO 14001
certification, ONE EUA is also working
to increase environmental awarenesswithin the regional team and its supply
chain by actively engaging suppliers.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

Investment in GreenTechnologies and Alternative
Fuels

As the shipping industry moves
towards decarbonization, net
zero fuels will play a significant
role. However, the alternative
fuels needed to power much of
the industry's fleet are still being
developed and, in the meantime,companies are looking into shortterm solutions to bridge the gap
until longer-term solutions become
available.
As such, one of the focus areas for
us is to develop an alternative fuelroadmap. Biofuels derived fromrenewable sources such as usedcooking oil have gained increasing
attention as an environmentallyfriendly alternative to conventional
fossil fuels. Since 2021, we
have been exploring the use of
biofuels to power our fleet andhave conducted three trials using
biofuel to power our chartered
vessels. We consumed 1,300 mt of
biofuel between FY21-22 as part ofalternative fuel trials.

CEO Message

About ONEOur Approach to Sustainability

While our trials demonstrate thepotential for biofuel as an alternative
fuel, it is difficult to utilize biofuels
as a main fuel due to resource
supply constraints. We are therefore
looking into alternative solutions
such as ammonia, methanol andmethane while deploying biofuelsin specific use cases and as a pilot
fuel for ammonia and methanol.
We will continue to study thesefuels to determine which is moresuitable in the long-term and workwith industry partners to develop
the infrastructure necessary torealize these solutions. During thistransition period, ONE will consider
deploying liquefied natural gas(LNG) duel-fuel engines as aninterim solution, which can reducecarbon emissions by switching
between oil and LNG.
Besides alternative fuels, ONE isalso looking at ways to reduce
the emissions of its existing fleet
through carbon capture and storage(CCUS) technologies and otherefficiency improvements. We will
study pilot industry tests of CCUS

Our Sustainability Progress

Environment

onboard ocean-going vessels andpotentially deploy systems in ourown fleet.

2022

2030

Alternative FuelGRI Content Index

UNGC Index

PSA & ONE Launch Environmentally
Friendly Barge Service at Jurong
Island Terminal
ONE partnered with PSA todevelop and implement solutions
to reduce maritime emissions.
As part of this joint commitment,
ONE and PSA launched a barge
sailing service to transport
empty containers from PSA
Singapore to PSA Jurong
Island for ONE’s customers inNovember 2021. Barge sailing isa more environmentally friendly
mode of cargo transportation

institutes of higher learning andresearch institutes.
Moving forward, we will actively
seek collaboration opportunities

A Win-Win Collaboration
2040

ONE considers these fuels asalternative fuels and does R & D
and investment related to vessels
and technologies.
(During the transition period, LNG
DF is one of the primary interim
solutions)

Deploy in specific use cases and as
pilot fuel for methanol and ammonia.

2050

27

Appendix

Ecosystem Building

In 2021, we collaborated with
BW Group, Sembcorp Marine,
Eastern Pacific Shipping,Foundation Det Norske Veritas
and BHP as founding partners
to establish a S$120 million
fund for a Global Centre for
Maritime Decarbonisation
Center to be set up in
Singapore. Each private
sector partner will contribute
S$10 million to support theestablishment of the center,fund maritime-decarbonizationrelated research andtechnology development
projects and collaborate with

MethaneBiofuelPerformance Data

As we look to accelerate ourdecarbonization efforts, wewill also focus on building
green talent and expertise tosupport our net zero ambition.
Decarbonization is a relatively
new area for the shipping industry
and one that poses significant
challenges. While we will continue
to leverage external expertise, wemust also enhance our internal
green capabilities. One such areaof knowledge ONE is looking to
expand is sustainable solutions in
naval architecture and involving
maritime architects in moreenvironmental projects.

Ammonia

MethanolGovernanceIn line with the Call to Action for
Shipping Decarbonization, ONE
has set targets to obtain ApprovalIn-Principle for zero-emission
vessels by 2023 and deploy its
first alternative fuel ships by 2030,
phasing out conventional fuelvessels by 2050.

Conventional
Fuel

Fuel

SocialThe complex issue of
decarbonization and climatechange mitigation requires
collective action across thewhole maritime ecosystem.
One of the core tenets of ourGreen Strategy is therefore
on building partnerships
with industry players andstakeholders on the road tozero emission.

Roadmap
alternativefuel vessels
deployment
Roadmap
forforalternativefuel vessels
deployment

Timeline

Operational Excellence

In 2021, ONE partnered with
Rutgers Business School (RBS) togive students practical experiencein the shipping industry byengaging them in specificprojects. These projects willallow students to examine trends
in maritime decarbonizationand start to create connections
between academic knowledge
and industrial application.
Through this partnership, ONE will
also be able to gain direct accessto RBS’ academic resources
while working to reduce its

carbon footprint. ONE’s Green
Strategy Department, a newly
launched unit dedicated toenvironmental sustainability, will
host and mentor all the projects
conducted by students.

and can reduce GHG emissions
by 30% for a single twenty-footequivalent unit (TEU) container.
ONE will continue to closely
monitor local empty container
inventory and evaluate thisnew process in comparison
with those already in place ona dynamic basis to ensure thata lower emission mode of local
empty transport would always be
available to customers.

with customers, suppliers,
regulators, peers and otherstakeholders such as academics
and energy players to advanceour decarbonization efforts.

Addressing Our Value
Chain Emissions

Scope 3 emissions are
emissions generated in thevalue chain as a result ofONE's business activities
and typically contribute to amajority of an organization's
total carbon footprint. Because
these emissions occur
outside of an organization’s
immediate operations, they
are especially difficult to
reduce. Nonetheless, we arecommitted to achieving zero
emissions in our direct andindirect emissions by 2050.
We have started a Scope 3
screening exercise in 2022
to identify our most material
Scope 3 emissions and willdevelop a roadmap to reducethese emissions.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

MARINE POLLUTION ANDCONSERVATION

Accidental spills and operational
discharges can have potential
widespread and adverse impacts on
marine life and are the key causesof marine pollution generated by theshipping industry. ONE is committed
to ensuring zero significant spillson vessels and works closely withshipowners to ensure that bestpractices are implemented, andvessels comply with all relevant
regulations.
ONE requires vessels to maintain a
Shipboard Oil Pollution Prevention
Emergency Plan (SOPEP) and Safety
Management System (SMS) in line withstatutory requirements for maintaining
seaworthiness and being in class.
Chartered vessels will undergo
periodic Vessel Quality Standard (VQS)
inspections and document checks toverify MARPOL and SOLAS certificationand ensure compliance with local
requirements including bunkering
procedures and maintenance of FO
related equipment and records. These
inspections are carried out by thirdparty companies in collaboration with
our Marine Safety and Quality (MSQ)
Department. Vessels are also checked
for compliance with international
conventions such as MARPOLCEO Message

About ONEOur Approach to Sustainability

requirements on ballast water
management and fuel tank protection1,
IMO convention on anti-foulingsystems including the restrictionof anti-fouling paints containing
tributyltin (TBT) and local regulations
on waste and effluents treatment/
discharge. All vessels must undergo
inspection before being chartered.
Quarterly feedback sessions arecarried out between ONE and thirdparty companies to identify areas of
improvement.
MSQ maintains a crisis management
manual and routinely carries out large
scale marine accident response drills
with GHQ, RHQ and selected owners/
vessels to ensure preparedness incase of such incidents. Drill scenarios
typically include oil spillage as thishas large environmental and social
impacts, a prerequisite of a large-scalemarine accident as per ONE's crisis
management manual. In addition tomaintaining a SOPEP, vessels arealso required to carry out oil spill
decontamination drills. ONE also
shares preventive measures for oilleakage with vessels as appropriate
via MSQ accident news. Any incident
involving spillage is investigated,
analyzed and recorded in ONE’s
Marine Accident Report System(MARS). Countermeasures are drawn

VSR Programs – ONE participating
VancouverEmissions
Reduction

ONE has maintained a track recordof zero significant spill (more than 150
liters overboard) since 2018. However
in 2021, there was one incident of fueloil leak onboard a chartered vessel
due to maintenance failure at Laem
Chabang and the ship crew erroneously
pumped out bilge water that had been
mixed with the leaked oil into the bay.
Ship owners took responsibility to clean
up the affected area. ONE reinforced
maintenance and ship management
procedures with the ship owners.
We also shared this incident via MSQ
news to the rest of the fleet to raiseawareness and prevent similar failures.
Ship strikes are one of the leading
causes of death for endangered andvulnerable whale populations. To
reduce the risk of ship strikes to whales,
we ensure our vessels comply withcompulsory speed reduction programson routes along the US East Coast,
South Korea and Balboa and implement
voluntary speed reduction (VSR)
programs for our vessels traveling inwaters along the coast of New Zealand,
New York, California and Vancouver.

Emissions
Reduction

Coast of
California

US EastCoast

Emissions
Reduction and
Avoid Collision
with Whales

Avoid Collision
with Whales

LA/LB
New
Zealand
Avoid Collision
with Whales

Emissions
Reduction

BalboaAvoid Collision
with Humpback
WhalesMSQassesses
assessesvessels
vesselsonona acase-by-case
case-by-casebasis
to determine
if fueltanks
must
be protected
onon
MARPOL
12A
MSQ
basis
to determine
if fueltanks
must
be protected
based
MAPOLANNEX
ANNEX I.I. Regulationn
Regulation 12A

11

Environment

up where necessary, to prevent any
recurrence. Employees can report any
observed negligent actions that could
result in damage to the environment via
ONE’s Hotline system.

New York

Speed andDuration
Limitations

South
Korea

Our Sustainability Progress

Operational Excellence

SocialGovernance

Performance Data

GRI Content Index

UNGC Index

Appendix

29

Protecting Blue Whales and Blue Skies Program
Since 2018, ONE has been
participating in the Protecting Blue
Whales and Blue Skies program,which calls on shipping companies
to reduce their speed to 10 knots orless in the San Francisco Bay Area
and the Southern California Region.
The voluntary program is an initiative
to protect endangered whales aswell as reduce air pollution andunderwater noise.

Reduction (VSR) zones at speeds of
10 knots or less. In the 2021 season,
we were able to achieve speed
reductions for 63% of the distancetravelled by our vessels through VSR
zones, an improvement from the 30%

achieved in the previous season. Our
goal for the upcoming goal for the2022 season is to achieve speed
reductions for 80% of the distancetravelled by our vessels through VSR
zones.

The program recognizes and awards
participating companies based on
the percent of distance their fleet
travelled through the Vessel Speed

Waste washed out to sea also poses hazards to marine animals and the marine ecosystem. As part of our CSR activities,
our employees organize and take part in activities to protect waterways, such as beach cleaning, ocean clean-up andpollution awareness. We have progressively resumed these activities in 2021 which were on hold due to the pandemic.
Further details of our other CSR activities can be found on Page 45.

Protecting Our Waters from River to Sea
ONE’s commitment to marine
conservation extends to riverine
environments as well. Given this,ONE Mexico is a proud supporterof the H2O Group initiative, which
comprises a group of researchers
dedicated to saving the Lerma River.
As one of the most polluted rivers
in the world, the water in the Lerma
River is highly toxic due to its highconcentration of heavy metals. To
improve water quality in wells fedby the Lerma River, the H2O Groupinitiative designed and implemented
filters using eggshells which havethe ability to absorb heavy metals.
For 6 months, the ONE Mexico teamand their families collected 60 kilosof eggshells to support the creationof filters for the local residents ofLerma.

Over in Ghana, the ONE team spreadthe word on water conservation
to 700 children attending theKotoso D/A School. The team also
distributed informative flyers in

Kotoso Market, located on the banksof the heavily polluted Lake Volta,
to raise awareness of our upcoming
initiative on sustainable waste
management.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

In 2021, ONE organized its first global clean-up event in honor of World Clean Up Day. We hope this annual
event will help raise awareness of the amount of rubbish that enters our seas and rivers daily, causing harm to
our marine life and ecosystem.

Despite restrictions in many
parts of Asia caused by thecurrent Covid-19 situation, ONE
Pakistan was able to participate
in the Beach Cleaning Drive
where they collected trashfrom Clifton Beach in Karachi. In

In addition to raisingawareness of environmental
issues through our CSR
activities, all employees are
required to complete anenvironmental awarenesstraining during orientation. An
optional e-learning module
on environmental protection
awareness training, consistingof 4 lessons and 4 quizzes, arealso available for employees
who wish to learn more at theirown pace.
Looking forward, we seek
to establish an Environment
Fund to finance long-term
efforts towards material
environmental themes, serving
as a platform to educate
employees and stakeholders.
As part of this initiative, welaunched our #OneOcean

appreciation of ONE employees
giving their time to protecting
our marine life, a donation of
EUR 5,000 was made fromONE GHQ, Singapore.
In Europe, we partnered withother organizations suchas ‘Let’s Do It Turkey’, the‘British Hovercraft Company’and ‘Legambiente’. ONE
employees helped clean upbeaches across France, Italy,
Ivory Coast, Portugal, South
Africa, the Netherlands, andthe United Kingdom, collecting
over 200 bags of trash. ONE
employees in Denmark, Poland
and Sweden went out andproject at the beginning of2022. We donated S$20,000
to the Singapore Garden
City Fund (GCF) to support
its coral reef conservation
effort. Coral reefs are vital inpreserving marine life, as wellas protecting the coastline fromstorms and erosion. They are
keystone species in the marine
ecosystem, providing foodand shelter for many marine
animals. The partnership with
GCF will ensure that we canenhance marine biodiversity
by providing areas for marineorganisms to grow andreef fishes to seek refugein Singapore. ONE is alsoplanning to organize an internal
awareness program at St.
John’s Island for employees tolearn more about Singapore’s
marine biodiversity.

Operational Excellence

SocialGovernance

Performance Data

RECYCLING ANDDISPOSING OF WASTE

World Clean Up Day

Throughout September, over
240 employees across Asia,
Europe and Africa participatedand contributed to various
clean-up activities ranging fromworking alongside the Egyptian
Coastguard, cleaning up thebeaches in Damietta, Egypt, tocleaning the canals in canoes
and on paddle boards in
Hamburg, Germany.

Environment

cleaned up the streets andharbor in their local areas. As
well as carrying out a beachand roadside clean up, ONE
Netherlands also completed a
13km walk and run to reduce
their carbon footprint.

ONE seeks to ensure the safe andresponsible disposal of waste.
Onshore we provide recycling
bins in all our offices and engage
licensed recycling companies
to dispose of e-waste such asbatteries and laptops. Offshore
we retain garbage and sludge on
vessels for proper disposal on land.
We require vessels to maintainproper records of any waste andeffluents treatment/discharge andcheck these records during VQS
inspections to ensure they meet ourrequirements. Any non-compliancewith regulations is addressed andrectified with shipowners.

GRI Content Index

UNGC Index

exposure and human rights andlabor violations on poorly regulated
shipyards.
While ONE currently charters all its
vessels, we ensure shipyards put
in place proper practices to protect
the environment and their workers
before they can be engaged by

Recycling a ship at the end of its
lifetime poses additional socialand environmental challenges forthe industry. Potential negative
impacts of ship recycling include
environmental damage from
improper waste disposal, health andsafety risks from hazardous material

Our commitment to reducing
marine pollution also extends
to minimize vessel emissions
including those from SOx andNOx, which have adverse effects
on the Earth's atmosphere andoceans. Since January 2020,
ONE has been fully compliant withIMO 2020, which regulates thatall vessels must ensure a sulphur
content limit of less than 0. 5% infuel oil. We implement the use of
Very Low Sulphur Fuel Oil (VLSFO)
whose sulphur percentage is lessthan 0.5% to ONE’s container
vessels. Where the use of VLSFO is
not possible, we work with vesselowners to ensure compliance withthis regulation and seek to charter
vessels with scrubber systems
that will reduce the output of SOx
according to IMO regulations. As
for NOx, ONE is fully compliant with
IMO regulations as well.

Recycling Right with ONE Thailand
In early 2022, ONE Thailand
initiated its recycling campaign.
With the active and enthusiastic
participation of all our staff, we wereable to collect and recycle a totalof 419.28 kg of recyclable material
as of April 2022. Among others,
these materials included disposable
plastics, paper and cardboard.
Building on the success of thiscampaign, ONE Thailand BPIT
is in the process of preparing
e-waste bins to help employees
properly dispose their electronic
waste. E-waste contains hundredsof substances, many of which
are toxic and dangerous to theenvironment. We hope this initiative
will help reduce our impact on theenvironment.

Appendix

31

shipowners. We do this by carryingout preliminary audits using thirdparty organizations. We are currently
looking to conduct additional audits
to further minimize environmental
impacts during the shipbreaking andrecycling process. We also intend tojoin the Ship Recycling Transparency
Initiative (SRTI).

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

Operational Excellence
Digitalization is an enabler that cuts acrossall areas – improving operational efficiency,
customer experience and environmental
sustainability. It is our long-term strategy and wemust continuously build on our capabilities.
Hiroki Tsujii, Managing Director

Since we started operations as
a newcomer to the container
shipping industry in 2018, we
have always focused on raising
the bar in operational excellenceand service quality. Our customerfocused strategy has enabled us
to compete successfully in themarket and serve our customers
consistently and reliably eventhrough the last few years of
turbulence.

INNOVATION AND
DIGITALIZATION

We continue to drive continuous
improvements by seeking new
ways to operate more efficiently
and leveraging digital technology
to elevate customer experience.
We have progressed on our
Digitalization Roadmap, launchedin 2019, to build new digital
capabilities and enhanced service
models in its second phase in 2021.

Enabling shipping on-the-go
Launched in May 2021, our Mobile
Application serves as an all-in-one
platform for customers to complete
core transactions and accesscritical information at their fingertips.
The application is integrated withONE Quote to empower customers
with instant access to quotations
and bookings, and also includes
a Track and Trace function forcustomers to monitor the status of
their shipment at their convenience.
We also introduced several mobilespecific features to further enhance

our customers’ user experience.
These include push notifications
that provide our customers withtimely updates on their latest
shipment milestones, and a
QR code scanning function tominimize the hassle of typing
lengthy shipment details.
In 2022, a new Detention and
Demurrage calculator function as
well as an e-payment capability
will be added to further enhancecustomers’ ability to ship
on-the-go.

We have expanded our suite ofdigital solutions to work toward
enabling a simple, efficient, andconsistent customer journey. Our
digital quotation platform, ONE
QUOTE, empowers customers toreceive instant quotations based on
dynamic and transparent pricing.
The platform also streamlines
the booking process, allowing
customers to book shipments
anytime, anywhere.

Environment

Operational Excellence Social

Governance

Performance Data

GRI Content Index

UNGC Index

33

Appendix

Streamlining and Digitalizing Information Flows with SGTraDex
Supply chains are the foundationof global trade. However, theirdisaggregated nature results infragmented information flows,
creating momentous inefficiencies
when supply chains are scaled.

integrates information flows acrosscomplex supply chain networks,
strengthening the financing integrityof trade flows while enhancing theend-to-end visibility of container
logistics.

Recognizing this pressing challenge,
ONE became a founding memberof SGTraDex, an interoperable
common digital infrastructure,
together with various private andpublic sector partners. Launchedin 2021 and conceptualized by
the Singapore Together Alliance
for Action (AfA) on Supply Chain
Digitalization, SGTraDex seamlessly

Plans are currently underway tointegrate digital or electronic bunker
delivery notes (BDN) with SGTraDex,
further enhancing transparency
and increasing the speed at whichshipping companies can accessbunkering finance. ONE will continue
to expand the scope and range of
SGTraDex's use cases and drive its
adoption both locally and globally.

Since its launch in February
2021, ONE Quote has achieved a
reduction of 6 hours in averagebooking turnaround time (a 82%
reduction) compared to otherbooking channels. As part ofour commitment to continual
improvement, ONE Quote will
be updated in several phases
to expand our service coverageand introduce useful and novel
features that digitalize tedioustasks. We have made steadyprogress towards our goal tohave 100% of customer
bookings
INTRODUCTION

done by digital platform by 2025,with more than 90% bookings now
completed online. Beyond our
digital platform, we strive to offer
our customers a seamless, intuitive
and omnichannel user experienceby developing and releasing a
Mobile Application.

Schedule

Quote

Looking ahead in 2022, wewill be launching a new endto-end e-commerce platformthat will enable customers to do
everything easily and efficiently
on one platform. Designed to beBook

Documentation

As ONE, we arehonored to be one of thefounding members of
SGTraDex, and through thisnew and innovative publicprivate partnership model,
hope to be able to further
enhance Singapore's
position as a major global
trade hub.
- Jeremy Nixon, CEO of Ocean Network
Express Pte. Ltd.

as comprehensive and intuitive
as possible, our e-commerce
platform will be integrated with
ONE’s existing applications for aseamless user experience, andwill also feature tutorials and a live
chat option to help our customers
independently navigate oursystems with ease.
In turn, our e-commerce platform
will serve as a one-stop solution
to our customers’ shippingneeds, covering everything fromschedulingto finance.
NEW FEATURES

Track & Trace

Finance

Notification

As the platform is targeted at small to medium sized customers, we conducted interviews and surveys to understandtheir needs and diagnose their pain points. The results of these interviews were crucial in informing the direction anddevelopment of our e-commerce platform. We will continue to actively engage and collaborate with our stakeholders torefine our line-up of digital solutions and uphold our high standards of customer service.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CUSTOMER EXPERIENCE

While digitalization is a key enablerand strategy, it must be closelyaligned to customers’ needs andexpectations. All the digital tools wedevelop will not make a difference
if customers do not wish to adopt
them. We therefore place a big
focus on making it a breeze toengage with ONE.
Our Customer Live Chat was
launched in 2019 and has beenrolled out to 42 countries at theend of 2021. Integrated with a
24/7 ChatBot, the chat function
provides customers with a roundthe-clock channel to address
various enquiries, including booking
amendment requests, inquiries on
charges as well as technical support
for our e-commerce platform.
Live Chat Agents are also available
during working hours to handle
more complex requests and provide
our customers with a humantouch. These features helped
our Customer Live Chat achievea consistently high customer
satisfaction score of over 90% since
its release, all while reducing the
average handling time of inquirycases from 17 minutes in 2018 to 12
minutes in 2021.

CEO Message

About ONEOur Approach to Sustainability

As we refine and expand our
product offerings, we plan toimplement a standardized set ofservice KPIs to measure timeliness,accuracy, and e-commerce
adoption. We are also modernizing
our support channels andprocesses to provide our customerfacing teams with the right tools& integrated data visibility acrossour internal systems, backed up
by standard operating processes
to better support our customer
demands.
However, high levels of customer
satisfaction and service quality
cannot be met if we do not executeon-time delivery of our customers’
goods. That, in turn, requires us
to achieve the best operational
efficiency at sea and on land,even in the face of unprecedented
shocks.
As a buffer against unexpecteddisruptions, we continued tomaintain a reasonable inventoryof empty containers by procuring
additional units and arranging“sweeper” vessels to strategically
reposition empty containers. These
procurement and repositioning
operations were guided by ourmarket and demand forecast,

Our Sustainability Progress

Environment

ensuring our swift response tounexpected demand surges.
Under our Business Collaborative
Council, formed to ensure lean andagile business response, the global
ONE team worked tirelessly to minimize
the impact of multiple disruptions,
including chronic port congestion
throughout Europe and Asia, diminishedland transport capacities, manpower
shortages and impaired container yard
fluidity. Our ability to manage these
disruptions and their cascading effects
without compromising on stability andquality of service is testament to ourcommitment to operational excellenceand serving our customers to the bestof our abilities.
ONE has been recognized by one of
our customers, Hellmann Worldwide
Logistics, in their Carrier of the YearAward in the North America and Africa
regions. ONE Philippines also scoreda great win as 2021 Shipping Line of
the Year for key account customer
Toyota Motor Philippines Logistics Inc.
Similarly, ONE Indonesia has also beenrecognized as a Valued Collaborative
Partner of DHL Global Forwarding
Indonesia. Such endorsement by
our customers provides the greatest
validation of our efforts and drives us tocontinuously improve.

Operational Excellence Social

Governance

Performance Data

CONTAINER AND CARGOSAFETYThe safe transportation of cargo isfundamental to delivering the highest
standards of customer service andenabling a smooth flow of operations.
It also protects ship and land crewfrom unnecessary harm. We ensure
safe cargo transportation andoperations onboard by enforcing
strict safety standards and inculcating
safety awareness in our employees
and contractors.

Vessel Safety

ONE’s stringent approach to vessel
safety is embodied within its Vessel
Quality Standard (VQS). Alignedwith industry requirements andstandards for ship safety and quality
management systems, the VQS
ensures the maintenance of highsafety standards at all times.
Under the VQS, third-party survey
companies are appointed to inspect
vessel safety in close collaboration
with our Marine Safety and Quality(MSQ) department. For chartered
vessels, our Fleet Management
Department works closely withshipowners to ensure compliance with
ONE’s safety policies and processes.
Following inspection, ONE will workwith shipowners of vessels thatGRI Content Index

UNGC Index

35

Appendixviolate our safety standards to address
identified risks.

Safety and Quality Campaign between
1st August and 31st October 2021.

To complement the ONE-VQS
and further augment our safety
infrastructure, we implemented a
Quality Management System (QMS)
that is certified against ISO 9001:2015,
the international standard for quality
management systems as set by
the International Organization forStandardization (ISO). The QMS serves
to streamline our workflows and tighten
our vessel safety and quality protocols.
We registered our QMS under theship classification society Nippon Kaiji
Kyokai and received our ISO 9001:2015
certificate in March 2021.

During the campaign, crew membersof vessels under ONE’s operations
inspected their ships for risks in threeareas, which have been prioritized
to reflect past events and the resultsof last year’s campaign. These keyrisk areas include cargo stowage &securing (in severe weather conditions),
collision or contact, and finally Port
State Controls (PSC) inspections andfire. Following this self-assessment,crew members are tasked withrectifying any identified risks or defects,
allowing ONE to raise safety standards
and affirm its commitment towards
delivering reliable and quality service.
69% of the total fleet responded and
we received many valuable feedback
and findings from the vessels. The
analysis of the campaign results andnotable observations were also shared
among the whole fleet for awareness.

In addition to ensuring our continued
compliance with the ISO 9001, theMSQ department is tasked with
conducting training sessions to raiseawareness of the ISO 9001 among our
employees. Selected MSQ members
were also sent for external training toconduct internal ISO 9001 audits.
Due to COVID-19 movement
restrictions, we managed to conduct
17 physical VQS inspections onboard
operating vessels. Nevertheless, we
continued to build on the momentumof last year’s Safety and Quality
campaigns, launching our Marine

Prior to the COVID-19 pandemic,
the MSQ department organized afew shipboard training sessions to
help land-bound staff gain first-handexperience of ship operations, allowing
them to formulate well-informed
policies and protocols. However, thisprogram has been put on hold since
the onset of the pandemic.

Marine Safety and Quality Campaign Workflow

In spite of the difficulties faced, we managed to navigate through somepretty treacherous waters in strong partnership together, be it pandemic
related; delayed and closed ports, Suez Canal blockage, equipment andlandside infrastructure challenges, to name just a few.
The famous Hellmann Wild Geese not only symbolizes our company
values, but serves us in good stead to remind us of some of theirremarkable attributes and behavior, which we both demonstrated
together in a very difficult year. One of the most important attributes being
the lifelong partnership, and with this we wish to thank you kindly for thegreat support and partnership we share together.
- Hellmann Worldwide Logistics

Understand• ONE KPIs
• Important items
listed in each of the
focused areas

Navigational and Operational
SafetyBeyond vessel safety, as a shipcharterer, we developed andimplemented an Operational
Standard to support ship owners to
guide ship crews through various• Shortcomings• Defects• Potential Risks

Review &Rectify• Related Circulars• Checklist/
Feedback

Identify

scenarios, such as cargo damage,severe weather, accidents and fires,and navigating conflict zones andpiracy hotspots. The Operational
Standard also includes contingency
plans for issues such as robbery andtheft, unauthorized stowaways, and• Rectified Items(Before/After)• Awareness ofPotential Risks
Report toONE

the smuggling of firearms, drugs,
and other illegal contraband. The
Dangerous Goods (DG) Safety
Guidance prescribes standard
procedures for proper and safe
handling of DG cargo, which isperiodically reviewed and updated

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

as needed. Training based on our
DG policy is conducted by GCS for
our Global and Regional HQ staff
to ensure processes for labeling,storing, handling and transporting
hazardous goods are followed.
As an added precaution against
severe weather, our Global Vessel
Operations (GVO) department
monitors the weather condition
associated with each vessel
position to ensure that we respondswiftly to any navigation risks. The
GVO department has developed
heavy weather thresholds for safe
navigation based on different vessel
sizes. A designated team known as
the Global Ocean Routing Advisory(GORA) has also been establishedwithin the GVO department tomonitor ship routing more closely.
In addition, we have also upgraded
our internal IBIS+ system to enhance
our capacity to monitor extreme
weather conditions.
Any accidents that occur arerecorded in ONE’s Marine
Accident Report System (MARS),
allowing us to build a database of
accident information to improve
our safety practices. Based on the

CEO Message

About ONEOur Approach to Sustainability

information gathered, our MSQ
department will work with relevant
departments to formulate andimplement preventive measures,
disseminating these updates
through a monthly newsletter.
Apart from shoring up our internalsafety culture, ONE also works
closely with shipowners andship management companies toadvocate the importance of safe
practices in lashing, cargo stowage
and the maintenance of equipment
to ship crew.
Owing to the effectiveness of ourmeasures to review and improve
our ocean routing and stowage
protocols, the number of containers
lost overboard in 2021 hassignificantly reduced, with only one
empty unit being blown overboard
due to strong winds. However, theaverage downtime per vessel due
to accidents or problems increased
from 20.78 hours in 2020 toapproximately 42.5 hours in 2021.
This increase in downtime canbe attributed to 6 high downtime
vessel incidents, in particular theincident of a container collapse in2020 due to inclement weather that
had extended downtime into 2021.

Our Sustainability Progress

Environment

In December 2021, ONE conducteda joint crisis management drill
with Seaspan Corporation. The
drill involved 80 participants andsimulated a collision accident withan ONE chartered vessel, allowing
employees to familiarize themselveswith relevant procedures andprotocols. These drills and exercises
make us confident in our ability toswiftly respond to crises wherever
and whenever they occur.
ONE strives to lower the downtimeof vessels beyond 14 hours, with theultimate target of zero downtime.
For this end, we will continue tomonitor and analyze accidents
to identify areas of improvement.
These areas will be used to revise
existing policies or devise newprotocols that enhance operationalsafety. Our performance in thisdomain is monitored by our senior
management via an annual Safety
Management Review, allowing us toevaluate our policies and implementchanges when necessary. We also
conduct an annual large-scale
accident drill to maintain level ofour preparedness in the event of an
accident. There were no large-scale
or fatal accidents in 2021.

Working Together Toward TopTier Container Safety

Operational Excellence Social Governance

Performance Data

To restore fidelity in thesafety of container transportand provide the technicalunderstanding needed todesign safe innovations
for the future, the Maritime
Research Institute Netherlands(MARIN) collaborated with awide consortium of industry
stakeholders, including ONE, toroll out a joint industry project
known as TopTier.
Through extensive research
involving a review of current
practices, gap analyses andmathematical modeling, TopTieraims to identify and recommend
improvements to existing
container ship regulations. Inturn, TopTier not only lowers theprobability of container loss atsea, but also contributes to a safeand level playing field across themaritime industry.

As a member of several TopTier
working groups, ONE aims todetermine the causes of container
collapses and leverage TopTier’s
research to enhance the standardof vessel safety across its fleet.

UNGC Index

Appendix37

SocialThe growth of our people drives that of ONE.
We are committed to create a safe and inclusive
environment in which each and every one of ouremployees is able to take on new challenges.
Yu Kurimoto, Managing Director

In a post COVID-19 world, theexpectations of the role thatbusinesses can and should playin society has changed. The
realization that businesses canonly succeed in a healthy andthriving society has hit home.
This is something ONE has
believed in since its inception- supporting and taking care of
our people and communities are
our responsibilities, and we arecommitted to bring about positive
impacts to all whose lives we touch.

TALENT MANAGEMENT
The average size of deep-sea
container ships has increased
exponentially in the past decade,giving rise to the emergence ofmega-vessels that – in light ofpast container collapse incidents– raise reasonable concerns on
their security and safety.

GRI Content Index

Our employees are the foundationof our business. Our continued
success is therefore dependent on
attracting, retaining and developing
a diverse pool of talent. We view
diversity as an asset, enabling us to
tap into a wide range of talents andcreate a thriving workplace.
As of 31 December 2021, our global
workforce of 7,799 employees in
41 local entities and GHQ across
52 countries consisted of direct
employees and a small pool ofcontract staff who provide services
such as administration, clericalwork, vessel husbandry andhandling, cleaning, security andproject-based work. Turnover rate
for the year was 6.78%.

Attracting and Retaining
Talent

The maritime industry has been
experiencing a tightening labormarket. The competition for talentis becoming more intense andwith demand for maritime freighttransport expected to continue
growing, attracting and retaining
talent will be more crucial thanever.
ONE recognizes the importanceof building a sustainable talentpipeline. To that end, we offer
scholarships and internships
to aspiring maritime students
to attract young talent to theindustry. Under the MaritimeONE
Scholarship set up by an industryled tripartite partnership between
industry associations, MPA andinstitutes of higher learning, ONE
has sponsored one student topursue maritime-related studies
and will continue this sponsorshipfor more eligible students. To
give students a more practical
hand-on feel for the shipping

industry, our internship programprovides on-the-job training andmentoring by senior colleagues.
Students who successfullycomplete the internship are eligible
for permanent employment with
ONE afterward. Apart from that,
we advertise job vacancies on our
corporate website, recruitment
websites and through engagementswith job recruiters and agencies.
To attract and retain talent, we offer
competitive compensation andcomprehensive benefits to all fulltime employees, including group
medical/healthcare insurance,
disability and invalidity coverage,
parental leave, retirement
provision and stock ownership.
The remuneration process iscommunicated to employees uponjoining the company.
At the opposite end of theemployment journey, we offer
outplacement services to facilitatecontinued employability and the
management of career endings
resulting from retirement or
termination of employment. This
service is voluntary and available aslong as it is needed.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

Learning andDevelopment

All employees undergo
an annual performance
review which also serves
as a channel for employees
to discuss their career
aspirations, work satisfaction
and developmental needs.
These reviews also serve asa useful tool for management
to identify and develop
individual talent, as well as torecommend training to close
any skills gaps.
Training and development
programs are available toemployees to upskill on
a range of topics such as
leadership and management,
operational and technicalcompetency, e-commerce, soft
skills, etc. ONE encourages
continuous training for all
employees to increase
productivity and enhance
understanding of all aspectsof our business. In November
2021, we launched the“Knowing ONE” training for all
new hires, to help them learn
about ONE’s business as partof onboarding.

CEO Message

About ONEOur Approach to Sustainability

Following the launch of our
THRIVE e-learning platform in2020 to enable on-demand,
virtual learning during the
pandemic, we rolled out
additional web-based courses
on cross functional topics todiversify knowledge acrossall staff and are looking into
additional add-ons to theplatform such as LinkedIn
Learning courses. We arecommitted to maintaining atleast 8 hours of training on
average per employee ata minimum, to ensure they
continue to upskill for the future.
We will review this to aim for
more training hours in 2023.
Recognizing the importanceof building a pipeline forleadership succession, we
are focusing on leadershipdevelopment as a key area.
In 2021, we jointly launcheda 1-year mini MBA programfor senior management with
Rutgers Business School, aleading US-based university.
The program will focus ondeveloping participants’leadership and management
skills. ONE sent its inaugural

Our Sustainability Progress

batch of participants in 2021
and is looking to set up asimilar program for juniorand middle management.
We also implemented avirtual leadership program
to support managers inmanaging remote teams.
To better understand thefactors contributing toemployee engagement,
we conduct a bi-annual
employee engagement
survey to gather insights into
employees' attitudes toward
their work. We develop
suitable action plans toaddress any issues identified
to continue driving employee
engagement and build a highperforming company. In 2021,
we achieved an engagementscore of 82%, an increase
from our previous score of
73% when we last conducted
the survey pre-pandemic
in 2019. In both years, weachieved a participation
rate of at least 90%. We aim
to maintain at least 90%
participation rate for future
surveys and at least 75%
engagement score or higher.

Enabling a Global Exchange of Talent
2021 marked the second
year of our global exchange
program. The program targets
managers who have met
leadership competencies,and grooms them to become
future leaders of ONE byenhancing their regional
exposure and diversifying theirskill sets.

global exchange program
was introduced as oneof the international talentmanagement initiatives. In theinitial phase of the program,participation was on an
as-needed basis or ad-hoc
nomination by regions toprovide exposure to certain
employees.

Recognizing the importanceof building a pipeline ofleaders and the diversificationof talent regionally, theOver time and withexperience, Group HR
worked with the regional
teams to establish a

Environment

structure for the program andselection process based on
business requirements andcandidate criteria. Group HR
communicates with the regional
teams on a quarterly basis
to source any available job
opportunities and candidates
to facilitate such exchangeof skill sets, knowledge andexposure globally. The current
process is still being finetuned along the way so thatinternational mobility will be
encouraged further.

Operational Excellence Social Governance

Performance Data

GRI Content Index

UNGC Index

Appendix

39

Diversity and Inclusion

We are committed to creating adiverse and inclusive workplace forall. We expect all employees anddirectors to adhere to our Codeof Conduct, which sets out ourcommitment to treat one another withrespect and dignity, regardless ofage, race, creed, religion, nationality,
gender identity or ability. We havezero tolerance for any form of
discrimination or harassment on
any basis. As part of mandatorycompliance training, all employees
attend an e-learning course on
tackling workplace harassment anddiscrimination. Read more about ourcompliance training on Page 41.

Averagetraining
hours peremployee

11.2
hours

in 2021

We abide by the Tripartite Alliancefor Fair and Progressive Employment
Practices (TAFEP) in Singapore where
we are headquartered. Based on the
TAFEP Guidelines, we recruit andmanage employees on the basisof merit (such as skills, experienceor ability to perform the job), andregardless of age, race, gender,
religion, marital status and family
responsibilities, or disability.
The Human Resources Department
is responsible for managing theantidiscrimination and harassment
policies and procedures of ourcompany and addressing any
incidents that arise. All employees
have access to ONE’s whistleblowing
hotline to report any incidence of
discrimination or harassment that theyexperience or observe, along withother issues. This service is available
24/7, 365 days a year in all languages
used at ONE. In 2021, there were zeroincidents of grievances/discrimination/harassment reported.
ONE seeks to promote gender
diversity and raise the profile ofwomen in the traditionally maledominated maritime sector. At
the GHQ level, we set an internalbenchmark to have at least 30%
female representation in all shortlisted
job applicants presented to hiring
managers and at least 10% female
representation on the interview panel
for all interviews conducted.

This year, in honor of International
Women’s Day, we also organized aseries of weekly discussions inviting
ONE’s female leaders to share theirexperiences in the shipping industry,the challenges they have faced andhow they have progressed within theirroles, to inspire other women in thecompany.
We are heartened to see that female
representation in our workforce has
increased across the board since 2019
when we first started tracking thisdata. We are committed to enhancing
our efforts on gender diversity. We
seek to better support both men andwomen in their career development
at ONE and encourage their return towork after parental leave. Our current
return rate after parental leave is morethan 90% across our offices which isencouraging and something we willcontinue to support.
Across our global offices, various
initiatives are organized. For example,in Latin America, employees attended
a session conducted by a visually
impaired person to educate themon respecting differences. In Korea,
a compulsory training was held on
sexual harassment prevention andunconscious bias.
To promote greater diversity andinclusion within ONE, we are looking
to set up a Diversity and Inclusion
Committee at GHQ in 2022/2023
to drive and coordinate initiatives
on this front, comprising employees

from Group HR, Communications orGeneral Affairs and led by a senior
management member.

EMPLOYEE HEALTH, SAFETY
AND WELLBEING

Ensuring the health and safety of ouremployees is our highest priority. We
implement an Occupational Health and
Safety (OHS) management system incompliance with respective local legal
requirements and labor regulations or
guidelines of the respective countries
in which we operate. Additionally,
our Code of Conduct and Global HR
Policy guide us in creating a safeand healthy working environment for
employees. All workers, activities andworkplaces are covered by an OHS
management system or safety policies
and procedures.
The Human Resources (HR)Department and General Affairs(GA) Department at each ONE entity
are responsible for managing theirrespective OHS systems. Someentities may instead appoint adesignated safety officer.
Responsible departments and/or
safety officers conduct OHS risk
assessments on a regular basis – thismay be monthly, quarterly, yearly or asneeded. Assessments are reviewed
by the risk assessment committee,
which comprises of members from
HR, GA, Legal departments and theBoard of Directors to determine where
improvements can be made to better
manage health and safety at theworkplace.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

Employees are required to reportany accident, injury or work-related
hazard to their supervisor or direct
manager. Reports will be followed upby the HR or GA Department who will
investigate and put in place measures
to prevent recurrence and minimizerisks where required. Employees
can stop work due to safety reasons
without fear of reprisals as part of the
OHS policy.
Employees can also provide
feedback on health and safety
management practices to their HR
or GA Department, through their
participation as a member of the local
health and safety committee or duringsafety trainings and workshops.
ONE seeks to minimize theoccupational health risks that
employees are exposed to.
Employees are trained on first aid,
CPR and AED, fire evacuation, risk
identification, and safety and hygiene
practices to prevent work related
illnesses and injuries. Employees also
have access to health management
services provided including company
doctors, hospitals and clinics,
regular medical check-ups and 24/7

CEO Message

About ONEOur Approach to Sustainability

teleconsultations.
We provide group medical/
healthcare insurance, personal
accident and group term life
insurance as an employment benefit.
To promote employee wellbeing
and engagement, some offices also
provide health promotion activities
for employees including smoking
cessation programs, weight control
programs, mental wellness programs
as well as sport activities.
Information regarding health andsafety services and initiatives
is disseminated through online
channels such as email and internal
online portal, as well as throughthe employee handbook, town
hall sessions, health and safety
workshops and trainings.
ONE consistently monitors thenumber of work-related injuries andfatalities that may occur. In 2021,
there were no fatalities nor highconsequence work-related injury
sustained. There was 1 recordable
injury sustained by ONE employee
within our premises from using
kitchen utilities. This is down from

Our Sustainability Progress

Environment

5 in the previous year (please referto the Performance Data section).
This isolated incident in 2021 did notpose any risk of high-consequence
injury. Nevertheless, we seek totake preventative measures suchas providing reminders on safety
precautions in the kitchen.

HUMAN RIGHTS AND
LABOR PRACTICESONE is committed to respecting
human rights and labor practices inline with the UN Guiding Principles
on Business and Human Rights.
We have joined the United Nations
Global Compact (UNGC) since 2018
and support the universal principles
regarding human rights andlabor standards. We integrate ourcommitment in our business throughour Credo and Code of Conduct,ensuring that we do not contributeto human rights violations throughour operations or associations. Suchrequirements are also incorporated
into our Supply Chain Management
Guidelines, which we request all
our business partners, including
suppliers, to adhere to whenproviding products and services to
ONE.

Working Safe and Keeping Well Amidst the Pandemic
The safety and wellbeing of ouremployees was our top priority fromthe onset of the pandemic. Since
early 2020, the Crisis Management
Committee (CMC) and task force
team has been actively monitoring
the number of suspected andconfirmed cases and implementing
safety measures in compliancewith local pandemic safety policies
and guidelines to ensure business
operations can continue. We continue
to implement a hybrid arrangementof work-from-home and work-fromoffice, with flexible working hours
as well as safety measures in theoffice including temperature taking,enforcing mask wearing and safe
distancing and providing sanitizer
and wet tissues. Employees mustalso report positive COVID-19 test
results to HR.

As the COVID-19 pandemic
continues to evolve, we will update
our processes and procedures toreflect the current situation andcomply with guidance provided byrelevant health authorities. ONE willcontinue to put the health, safety
and wellbeing of our employees on
the top of our agenda.
In order to keep our workforce
focused, efficient and balanced,
we conducted a series of monthly
wellbeing seminars on our
THRIVE platform sharing tips on
fatigue, burnout, growth mindset,
mindfulness and connecting
empathetically. We also partneredwith Workplace Options to give
employees access to 24/7,
confidential support including
counselling, information, guidance

Operational Excellence Social Governance

Performance Data

We also ensure that all our employees
are treated in a manner consistent
with the applicable laws and labor
conventions, such as the TAFEP
Guidelines in Singapore. We fully
support the rights of our employees
to exercise their freedom of
association and collective bargaining.
Collective labor agreements arecountry-specific, based on local laws,
regulations and best practices.
We recognize that one of the key
human rights issues in the shipping

GRI Content Index

UNGC Index

Appendix

industry relates to modern slavery.
We published our statement under
the UK Modern Slavery Statementin 2020 which can be found on our
website to formalize our commitment
to prevent modern slavery andhuman trafficking in our businessand supply chains. An e-learning
course on the Modern Slavery Act
has been rolled out in 2021 as partof compliance training on humanrights and 92% of our employees
have been trained. We aim to have
100% of employees trained by 2022.

While ONE does not manage
ship crew directly, we support theprotection of seafarer rights and are
mindful of our duty of care to the crew
who work on our chartered vessels.
We worked closely with vessel owners
and ship management companies toensure seafarers’ safety and wellbeingat sea, especially during the COVID-19
situation. We have continued toadvance crew change arrangements
despite the ongoing Covid-19
pandemic and tightened movement
restrictions around the world.

Caring for Our Maritime Frontliners
Seafarers face various challenges
and dangers on the job. In addition
to looming threats of piracy andshipwrecks, long periods of timeaway from friends and family andlimited access to facilities can often
lead to mental health issues. Theseissues have become more prevalentduring the COVID-19 pandemic, withseafarers unable to leave their ships
and Chaplains limited to gangway
visits. All these have massively
impacted seafarer welfare andmorale.
ONE signed the Neptune Declarationfor Seafarer Wellbeing and Crew
Change in 2021 to put our weightbehind the immediate resolution of
the international crew change crisis
together with 850 signatories acrossthe maritime supply chain. Following
our donation to The Mission to
Seafarers charity in the earlier part of2021, we donated another £30,000
to the ongoing Sustaining Crew
Welfare campaign, becoming aplatinum donor. Funds will be used
for a range of initiatives and projects
including vital welfare support for
seafarers and their families as wellas emergency support. It will also
go toward the WeCare training
programs, which provide bespoke
mental health and wellbeing course
to crews and their families worldwide.

A Great Place to Work: ONE Brazil, ONE Peru and ONE Argentina

and referrals on any work, personal orfamily issue through their Employee
Assistance Program (EAP). Employees
are additionally encouraged to makeuse of the Headspace mental wellness
app which includes meditation, shortvideos and sleep casts to support
sleeping and focus.

ONE is committed to empower
and take care of our people.
We continually strive to create
a conducive, inclusive and safe
working environment where
employees feel respected, valued
and empowered to do their best.
That is why we are proud to have
our efforts officially recognized andbecome a member of Great Place toWork Certified companies.
The Great Place to Work Certification
recognizes employers who create

an outstanding employee experience.
ONE employees complete a shortquestionnaire and survey, through which
they have a platform to provide insights
about workplace culture and voice how
they truly feel about working at ONE.
Great Place to Work Certification isawarded to organizations that haveachieved 65% or more positive
response in the survey. Over 90%
of current employees at ONE Brazil,
ONE Peru and ONE Argentina say thecompany is a great place to work.

41

CEO Message

About ONEOCEAN
EXPRESS(ONE)
Our Approach to Sustainability
OurNETWORK
Sustainability
Progress
Environment

REPORT
2021
OperationalSUSTAINABILITY
Excellence Social
Governance

Performance Data

GRI Content Index

UNGC Index

Running Toward a Brighter Futurein Singapore

Supporting Local Communities

Contributing
nearlyOrganized
overEnhancing the Welfare of
our Seafarers

countries

Volunteering
Hours

CSR and COVID-19
relief activities

APRIL

Nestled within a shopping complex in
Visakhapatnam, India, Hidden Sprouts
is a non-profit special needs schoolthat empowers the mentally challenged
by teaching students the requisite
skills to reach financial independence.
To help Hidden Sprouts tide throughthese tough times, the ONE India
Vizag team marshalled its resources toprocure and distribute various essential
items such as sanitizers, masks, digital
thermometers and oximeters.

Supporting Rural
Households in Vietnam
The past year has been a difficult
one for many people, especiallyfor those in underdeveloped
regions, where infrastructure
was strained by the COVID-19
pandemic and bouts of severe
weather. To support rural
households through this difficult
period, the ONE Vietnam
team gifted underprivileged
households from ethnic
minorities in Tak Roi, Quang
Nam with daily necessities
like clothes, books andpens for children andagricultural equipment.
Through these
donations, we hope to
pay it forward and do ourpart for local communities.

YOUR
TITLE HERE
Leveraging our Networks

MAY

FEBRUARY

Caring for Children with Special
Needs in India

Seafarers are foundational to
the global economy, delivering
essential goods and services
that keep our societies running.
In recognition of their dedicationand sacrifice, ONE donated£30,000 to The Mission to
Seafarers: Sustaining Crew
Welfare Campaign. The campaign
aims to enhance the wellbeingof seafarers in light of how the
COVID-19 pandemic has taken atoll on their morale. ONE is proud
to be part of this initiative, andwe hope to continue providing
support to communities in need.

In 2021, parts of Western
Germany were pummelledby heavy rainfall, culminatingin catastrophic floods thatravaged the region. In
the wake of the disaster,
lifeguards worked tirelessly
to rescue survivors andrestore the city. To recognize
their dedication and heroism,
ONE donated two 20 feetcontainer units to the German
Lifeguards Organization(DLRG), allowing them tostore their equipment in asafe and dry environment.

DECEMBER

employees
acrossDonating Containers to
Lifeguards in Germany

Community Chest is the fundraising andengagement arm of the National Councilof Social Service (NCSS), which aims tobuild a caring and inclusive society in
Singapore by supporting children withspecial needs and youth-at-risk, adults
with disabilities, families, persons withmental health conditions and lowerincome seniors. To raise funds for thesecauses, ONE donated SGD $30,000 andbecame a silver partner to the Singapore
Community Chest Vertical Marathon.

JULY

3,200
38
2,500
109

SEPTEMBER

Due to the ongoing COVID-19 pandemic, we were largely unable to resume our in-person CSR activities. Nevertheless,we continued to support local communities by leveraging our vast networks to deliver essential resources and materials to
those in need. We also continued to conduct internal fundraising activities to support various charities and local communities
across our global offices.

More
than

43

Appendix

JUNE

to Help Combat
COVID-19 in India

Uplifting Education in South Africa

Delivering care and support to the world

The COVID-19 pandemic has disrupted lives andlivelihoods, including the education of children,
especially in remote and vulnerable communities.
In support of UNICEF and the Global Coalition to
End Child Poverty, ONE Japan collaborated witha non-profit organization known as the "Together
with Africa and Asia Association" to transport
educational materials on a free-of-charge basis
to rural schools in South Africa. These materials,
which included English books, math sets andsoccer balls, will support the educational andrecreational needs of the children.

As hospitals in India battled
sudden spikes in COVID-19
cases, the resultant shortageof essential medical equipment
such as oxygen tanks crippled
the healthcare system in thenation. To help alleviate thisgrave situation, ONE offices in
Taiwan, Singapore and India
banded together to provide
expedited and freight-freetransportation of empty ISO
tank containers, leveraging
our unique position as a mega
ocean carrier with a vast
network to facilitate prompt
delivery of life-saving oxygen
supplies to the hospitals

DECEMBER

OCEAN NETWORK EXPRESS (ONE)
42 SUSTAINABILITY REPORT 2022

Investing in the Welfare of
our Seafarers
Building on the momentumof our last donation, ONE
contributed another £30,000
to The Mission to Seafarers,
becoming a platinum donor.
This donation will be used
to finance a whole range of
projects and initiatives, including
vital welfare support forregional services; emergency
welfare support in repatriation,
representation, health andwellbeing; family support in
the Philippines and India;
resilience in mental health; andfinally training programs on an
e-learning platform.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

Environment

ONE Terminal Run in Poland
In 2021, ONE Poland joined handswith Gydnia Container Terminal– Hutchinson Ports to organizea charity run to raise funds fora children’s hospice in Gydnia,
Poland. Held on 15 August, therace included a 1.8 km course forbeginners and a separate 5km
category for more experienced
runners. The event served as arare opportunity for participants,
comprising representatives fromacross the maritime supply chain, toenjoy fresh seaside views as they
ran along the normally inaccessible
wharf of the Gydnia Container
Terminal.

proceeds of an online auction
held in the following week. Surplus
funds from the event’s logistics
were also donated to the hospice.
Through this fun-filled event, ONE

not only hopes to forge closer
relationships within the maritime
industry, but also bring the industry
together to do good for local
communities.

GRI Content Index

UNGC Index

AppendixMore than just the green lungsof the earth, forests provide us
with valuable ecosystem services,
serving as natural bulwarks against
soil erosion as well as critical
habitats for wildlife. Recognizing
the importance of forests to global
climate action, ONE offices acrossthe world came together as one toconserve their numbers.
On 20 March 2022, ONE UAE
conducted a mangrove planting
event at Al Zorah Nature Reserve,
an area known for its richbiodiversity and thriving wetland
ecosystem. To ensure minimize any
potential environmental impacts,
our employees kayaked to theplanting area and brought their own
refillable bottles to avoid the use of
disposable plastics.

#ONEPinkRibbon Campaign

Given this, ONE launched its yearlong #ONEPinkRibbon Campaign
to raise awareness of breast cancer
on a global scale. As part of thiscampaign, ONE will revamp 100 of its
iconic magenta shipping containers
to feature the pink ribbon – aninternational symbol for breast cancer
awareness – and promote regular
health check-ups to detect early stage
cancers. Beyond raising awareness,
ONE will donate a sum of money
based on the annual mileage of thecustomised pink containers, which will
be retrofitted with smart devices to

Performance Data

Sowing the Seeds of the Future with the ONE Global Community

Funds for the hospice werecollected during the event itself
and were supplemented by theIf cancer is the emperor of all
maladies, breast cancer is its empress.
According to the World HealthOrganization, 2.3 million women werediagnosed with breast cancer in 2020
alone, surpassing lung cancer as themost prevalent cancer type.

Operational Excellence Social Governancetrack their distance travelled as they
circulate around the world.
Following a celebratory finale
event scheduled for the end of
October 2022, ONE will disburse
the final donated sum to a variety

of breast cancer charities aroundthe world, such as Breast Cancer
Foundation in Singapore. Throughthis campaign, ONE hopes to raiseawareness of this fatal disease andexpand support networks for cancer
survivors.

In Kotoso, Ghana, the ONE teamdonated 55 tree saplings to Kotoso
D/A School as part of our Go Green
Go ONE initiative. On 22 March
2022, our colleagues planted
the trees alongside groups ofstudents, who were designated as
the saplings’ custodians. For a funtouch, the team organized a friendly
competition whereby the top 3
teams with the tallest trees will beawarded special prizes.
In Gujarat, India, the ONE teamjoined forces with Conservation
Action Trust, a non-governmentalorganization specialising in theconservation of forest ecosystems,
to plant mangrove propagules.
During the session on 11 May 2022,
approximately 45,000 mangrove
propagules were planted in Jodiya,
Jamnagar district, spanning an
area of approximately 16 hectares.
Beyond planting propagules, ONE
India spread the word on mangrove
conservation to local communities
by distributing informative
brochures and flyers.

Over in Singapore, our colleagues
at our Global HQ participated ina tree planting event in Punggol
Park organized by the Plant-ATree Program. Held on the sunnymorning of 23 April 2022, every tree
planted will also contribute to the
OneMillionTrees movement, whichaims to plant one million trees acrossSingapore over the next 10 years.

45

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

Environment

Governance
The liner shipping business plays an important role toconnect the world and provide essential goods to people.
We are aware of this social responsibility and public
mission, and are committed to sound management as agood corporate citizen to establish trust in society with
good-faith and high ethical standards.
Yu Kurimoto, Managing Director

ETHICAL BUSINESSCONDUCT
Anti-Bribery, Anti-Corruption,
Anti-Trust and Competition

ONE is committed to maintaining
the highest standards of ethicalbusiness conduct, steering
clear of all unlawful behaviour
such as corruption, bribery andanti-competitive practices. Ourcommitments toward good faithbusiness activities, regulatorycompliance and the affirmationof human rights are enshrined in
our Business Credo and Code of
Conduct, which all employees are
expected to uphold. The Code of
Conduct covers the following:• Improvement of service
quality, pursuit of safety, andpreservation of the naturalenvironment• Fair business activities• Prohibition of conflict of interest• Respect for human rights anddiversity of cultures• Relationship with society• Assurance of a safe and healthy
work environment• Treatment of information• Responsibility of top
management• Report and consultation of
suspicious behaviour

ONE takes a proactive approach toensure compliance with all applicable
Anti-Bribery and Anti-Corruption laws,
including the U.S. Foreign Corrupt
Practices Act and the U.K. Bribery
Act. These measures include theestablishment of the ONE Basic
Anti-Bribery Policy, which explicitly
prohibits employees from engaging
in any form of corruption, whether
directly or through third-parties.
Copies of our Business Credo, Codeof Conduct and the ONE Basic AntiBribery Policy are distributed to all
employees via our internal online
portal. To ensure that employees
are familiar with these policies, allemployees, including members of
the Board, are required to completea mandatory e-learning module anddemonstrate their learning throughan online assessment. 100% ofexisting employees completed thee-Learning in 2021 and we aim toachieve this yearly.
As a further safeguard against
corrupt practices, the Anti-Bribery
Risk Assessment Guidelines were
established to assess and mitigate
the risk of bribes being paid throughthird parties, including suppliers andbusiness partners. The guidelines
are to be applied by all employees

and management, and include acomprehensive process to screenthese third parties.

Approach to Compliance

ONE has established a robust
governance structure to ensure
regulatory compliance. Our
Compliance program is directed by
the GHQ Compliance Committee,
which is headed by the Chief
Compliance Officer (CCO) andcomprises the CEO, Managing
Directors as well as GHQ department
heads. For consistency, directives are
implemented by the respective GHQ
departments at the group, regional
and local levels. GHQ departments
are tasked with adapting these
directives to suit the context of theircountry of operation. Notwithstanding
the pandemic, the GHQ Compliance
Committee meetings continued tobe held in 2021 in virtual format toensure the continuity of complianceand monitoring amidst the evolving
environment.
We continued to conduct ourCompliance training in hybrid format
given the pandemic situation. We
held 12 virtual Compliance workshops
in a webinar format, as well as
248 Compliance group training

Operational Excellence

Social Governance Performance Datasessions globally. In addition, a newformat of 30-minute teatime virtual
learning sessions focusing on hot
button Compliance topics such as“Competition Compliance” waspiloted. 3 such sessions were held for
the GHQ Corporate and Innovation
Division, attended by 45 employees.
Amidst movement restrictions,
our internal social network playeda crucial role in enabling us tomaintain high levels of employee
engagement. Over 99% of ouremployees globally completed
25,855 Compliance e-Learning
courses on 14 Key Compliance topics
such as our Business Credo, Code of
Conduct, anti-corruption, anti-bribery,competition law, economic sanctions,conflicts of interest, anti-fraud andinformation security. We also rolled
out an animation video addressing
the focus topic of anti-fraud via theinternal network.
In June 2021, employees participatedin a poster design competition to
design compliance posters thatcan be put up as visual reminders,providing an opportunity for them
to be engaged and contribute toONE’s compliance activities. Winningposters are put up in ONE offices
worldwide and on the ONE internal
network.

One of the winning entries in thecompliance poster design competition

GRI Content Index

UNGC Index

Appendix

This year, we maintained ourannual tradition in which Board
members affirm their commitment
toward ethical business conductand compliance to all GHQ
employees through an annual
video message. In response, allemployees submitted a declarationof adherence toward ONE’s
Credo, Code of Conduct and otherapplicable policies, symbolising
how ethical business conduct isa collective commitment shared
among all members of the ONE
community.

Our Approach to Risk
Management

As a shipping company with a global
reach, we are acutely aware of
the various environmental, social,governance and economic risks
that our business is exposed to.
As such, we established a Risk
Management Committee (RMC), who
is responsible for the formulationof control measures that can preempt and manage the business
impact of identified risks. The RCM iscomposed of company directors andreports directly to the Board. The
Business Planning team also plays
a supporting role as a secretariat to
the RCM.
To standardise risk reporting
practices across our operations,
we developed a 4 x 4 risk heatmap
which categorises our grouplevel risks by financial impact andfrequency. Risk severity is assessedby evaluating the extent to which
our countermeasures, which are
subdivided as “Prevention Plans”,“Minimization Plans” and “Recovery
Plans” can mitigate these risks.
The heatmap serves as a common
language for assigning probabilities
and potential impacts, allowing us tocome to a common understanding of
the risks facing our business.
Our overall risk management process
is evaluated by our Internal Audit
Team, who provides independent
assurance and advice on ourgovernance and control processes.
In addition to ensuring effective risk

47

management across our operations,they also promote risk and control
awareness among our employees.
In 2021, we conducted a review
of our business risks with thesupport of external risk consultants
given the many changes in ouroperating environment to ensure
we keep on top of the evolving
landscape and have adequate risk
management measures in place.
We also enhanced our risk reporting
mechanism. The RMC refined its
vision to be “To be a sustainable,
resilient, and trusted partner for
stakeholders by continuously
conducting risk assessment andreinforcing countermeasures.”
Going forward, we will conduct thisreview annually and incorporate
the consideration of climate changerisks and opportunities within thescope. We also plan to do a review
of our Risk Management Policy in
2022.

Whistleblowing and Raising
Concerns

We ensure employees have accessto a Hotline System as a safe
avenue to report any improprieties,
grievances and non-compliances
without fear of reprisal. Employees
are encouraged to raise theirconcerns on the following issues:• Violation of any applicable laws
and regulations, violation of any
legal or professional obligation;• Conduct that is inconsistent withany of ONE’s internal policies
and procedures;• Bribery, corruption, conflictof interest, anti-competitive
practices, breach of sanction
regulations;• Financial fraud or
mismanagement;• Discrimination or victimization;harassment; unethicalbehaviour;• Abuse or theft of ONE’s
resources and assets;• Danger to health and safety,
criminal activity, damage to theenvironment; and/or• Deliberate concealment of anyof the above.

OCEAN NETWORK EXPRESS (ONE)48 SUSTAINABILITY REPORT 2022

Once a report has been filed, thesenior management will assess
the issue to determine appropriate
follow-up actions. Depending on
the severity of the case, the senior
management will either investigate or
escalate the issue to the Compliance
Committee for further review.
Following the resolution of an issue,
ONE will undertake preventive
measures and discipline offenders
when deemed necessary.

RESPONSIBLE TAX
PRACTICESONE is committed to being acompliant and responsible taxpayer
who upholds the highest standardsof transparency and corporate
governance. We do not condone
tax avoidance behaviours such as
profit shifting and strive to update ourcompliance regime to keep in stepwith changing tax regulations aroundthe world.
The guiding principles and protocols
for our in-scope tax processes
are articulated in our Global Tax
Policy (GTP), which is enforced andmanaged by the ONE Tax Teamin accordance with our Global Tax
Mission Strategies. To reflect the
dynamic nature of tax laws andregulations, the Global Tax Mission
strategies and by extension, the
ONE Tax Team’s mission statement,
is updated by the Head of the ONE
Tax Team on an annual basis or when
deemed necessary. Full compliancewith the GTP is mandatory. Any
deviation from the GTP must seek
pre-approval from the Head of
ONE Tax Team in writing. For ONE’s
entities other than GHQ where it
has management control and the
responsibility to file tax returns, thesame GTP shall be adopted as far aspractically possible and permitted by
the relevant local law and regulations.
The ONE Tax Team will remain
vigilant on ensuring the appropriate
tax filings and tax obligations aremet, and engaging with local tax
authorities on any information
request or changes in tax laws.
The ONE Tax Team is responsible for
ensuring the effective management

CEO Message

About ONEOCEAN
EXPRESS(ONE)
Our Approach to Sustainability
OurNETWORK
Sustainability
Progress
Environmentof our tax processes throughout
the tax lifecycle, which includes tax
legislation, planning, compliance,
reporting and auditing. Whenappropriate, the ONE GHQ will
identify and appoint a global tax
advisory service provider, following
which it is mandatory for all entities
to engage a tax compliance andadvisory service provider. Beyond
managing our tax processes,
the ONE Tax Team will also put
in place appropriate controls to
reduce the risk of unintentional
compliance breaches. Employees
and stakeholders can access ourwhistleblowing Hotline System toreport any tax-related concerns orsuspected wrongdoings.

SUPPLY CHAIN
MANAGEMENTAt ONE, we seek to establish asustainable supply chain by forging
close partnerships with suppliers
who share in our sustainability visionand values. Conveyed in our Supply
Chain Management Guidelines,
these commitments include an
expectation to:• Respect human rights, particularlyaround employee health andsafety and labor rights.
• Comply with local and international
codes of practice, covering theareas of corporate governanceincluding issues of anticompetition, anti-bribery andprevention of money laundering.
• Provide safe and trusted services,training employees to undertake
activities such as operationof machinery safely and haveestablished emergency response
capabilities.
• Improve environmental practices
including the reduction of resourceand energy consumption.
• Manage and protect intellectual
property and information
responsibly.
Prior to entering a formal contract
with ONE, these guidelines arecommunicated to suppliers. Those
who ratify and acknowledge theseguidelines can register their company
name on our website, allowing us
to recognize their efforts in aligningwith our environment, social andgovernance standards. As of end2021, the number of suppliers
featured on our website has steadily
increased from just 5 when ourguidelines were first launched in2018, to over 400 in 2021. While still avery small percentage of our sizablesupplier base, this is an encouraging
development and lays the foundation
for us to further drive sustainability in
our supply chain.
Beyond supplier engagement,
we ensure that our managers are
updated on our latest practices by
providing training on our Supplier
Chain Management Guidelines.
Managers are expected to share
the training material with theirrespective teams to foster a culture ofcompliance across our operations.
We also established acomplementary internal Procurement
Policy to help our employees makeinformed procurement decisions
through:• Fair and unbiased evaluation,• compliance with laws and social
norms,• respecting human rights,• safety and environmental
protection,• and ensuring optimal quality andreasonable cost.
Going forward, we will be
implementing a new supply
chain management system thatstreamlines the management of
supplier information globally. This will
enable us to have greater visibility
over our supply chain and enhance
management and oversight. In
tandem with this development, we
will conduct an identification andassessment of high-risk suppliercategories for which a screening
process will be implemented basedon our Supply Chain Management
Guidelines. We aim to complete
implementation by 2023.

ILLICIT TRADE

ONE maintains a zero-tolerance
policy towards the trade of illicit
goods and human trafficking. We
are committed to the completion

REPORT
2021
OperationalSUSTAINABILITY
Excellence Social
Governance
Performance Data

GRI Content Index

UNGC Index

Appendix49

of our due diligence by regularly
screening cargo according to our
Cargo Acceptance Guidelines todetect questionable goods. We
have a Booking Acceptance Check
System (BACS) that is designed toflag out certain keywords in the
cargo description of the manifest to
detect prohibited items based on
our Prohibited and Restricted Cargo
List such as drugs, shark fins, etc. A
daily report is generated to capture
potential shipments flagged basedon the BACS for monitoring of any
suspicious trend.
We also issue guidelines and work inclose partnership with ship masters
and owners to prevent stowaways
onboard our vessels. In 2021, we also
engaged additional personnel as aprecaution against the increasing
trend of stowaway incidents.
We continued to play our part inpreventing drug trafficking and illicit
trade by actively participating in anindustry-wide working group hosted
by the World Shipping Council.

PIRACY AND SECURITY

While piracy incidents have dipped
to a historic low in 2021, theyremain a looming threat across themaritime industry. For instance, we
continued to receive reports oftheft and robbery incidents in 2021
from vessels waiting at anchorage
near prevalent ports in Manila andJakarta. Given that piracy is an everpresent threat that continues to hauntthe industry, we take a proactive
approach toward maritime security,
deploying various strategies basedon a region’s context and security
risks. Off the coast of Somalia and in
the Gulf of Aden, we cooperate withJapan’s Maritime Self-Defense Forceand the navies of various countries toensure the safety of our employees
and the security of our cargo.
In the Gulf of Guinea and Southeast
Asia, we deploy various self-defense
measures to protect ourselves. These
include the installation of razor wire toprevent unauthorised embarkations,the provision of bullet-proof vests
and helmets for our employees,
and the use of a high-pressure

water nozzle to deter piracy. We also
maintain high speeds and review
our navigation policies to account forrecent security trends, avoiding highrisk areas to safeguard our operations
against maritime threats. Following theoccurrence of a security incident, we
will investigate the matter to determine
areas for improvement and capture
lessons learnt, as well as work handin hand with ship owners and local
authorities to prevent recurrences.
We contribute to the growing
conversation on maritime securityby participating in multiple industry
dialogs such as those hosted by
the World Shipping Council. These
dialogs allow us to foster inter-industry
relationships and collaboratively
address the ongoing issue of piracy
and maritime security. Additionally,
we are currently collaborating with
the West African coastal authorities
as part of a working group to developa Standard Operating Procedure topre-empt security incidents in the Gulf
of Guinea.
As a global shipping company, we
are also entrusted with the data of
countless customers and suppliers,
foregrounding the need for robust
cybersecurity policies and protocols.
Our Information Security Policy
was thus developed to protect our
information assets – both in digital andnon-digital format.
The policy outlines a set of
responsibilities and procedures that

employees must follow to ensure
maximum data confidentiality andsecurity, as well as a process forreporting information security
incidents. This includes the useof a standard Non-Disclosure
Agreement (NDA) format for the
sharing, processing and retention ofconfidential information with external
partners, and ensuring stakeholder
consent is properly obtained. Our
Information Security Policy is further
complemented by our IT Management
Policy, which oversees the handling of
information technology assets acrosstheir life cycle.
Beyond policies and protocols, weestablished a dedicated Global IT
Security Team to scan the horizon
for emerging cybersecurity risks. Our
global IT Security Team does thisby undertaking risk assessments forour information security assets, andby implementing countermeasures
for the identified gaps. The Global
IT Security Team further fortifies
our cybersecurity defenses byorganizing workshops and training toraise the standard of digital hygiene
and literacy in our organization.
All employees also go throughmandatory compliance training on
IT and Information Security, as wellas the Personal Data Protection Act(PDPA) of Singapore for GHQ andSingapore office employees.
There were no information security
breaches, as well as no cases ofpiracy in 2021.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

Performance Data

SCOPE 1 AND 2 EMISSIONSOur Scope 1 emissions result
from the combustion of Fuel Oil
and Gas Oil in our vessels. Our
Fuel Oil consumption includes
Heavy Fuel Oil, Ultra-Low Sulphur
Fuel Oil and Very-Low Sulphur
Fuel Oil. Conversely, our Gas Oil
consumption includes Marine Diesel/
Gas Oil and Low Marine Diesel/
Gas Oil. Conversion factors for fuelquantity to TJ are sourced from CDP
Technical Note: Conversion of fueldata to MWh, CDP Climate Change
Questionnaire 2021. In March 2021,
ONE launched its second biofuel
trial on board M/V MOL Experience.
The specifications of the second
trial differed from the first trial inthat biofuel content was threetimes higher. This trial consumed
1,494.117MT of biofuel blend with abiofuel (FAME) content of 31.97%(V/V) which translates to 1,239MT
biogenic CO2 emissions, and isreported separately from Scope 1
emissions. The remaining volume
is composed of VLSFO. Emissions
from the FAME component arecalculated using Biodiesel ME (fromused cooking oil) emission factors
sourced from DEFRA and reported
as biogenic emissions separate
from Scope 1 emissions. Emissions
from the VLSFO component arecalculated using VLSFO emission

factors sourced from IMO.
For Scope 1 emissions, fuelconsumption is recorded andinputted into our internal system byvessel captains. Emission factors
were referenced from the Clean
Cargo Working Group (CCWG)
and only CO2 is included. Basedon CCWG, “Given that all relevantenergy consumption from oceancontainer transportation stems fromfuel combustion on vessel engines,
CO2 emissions is an appropriate
approximation of total GHG
emissions”.
Absolute Scope 1 emissions andemission intensities from 20182020 were calculated basedon the calendar year, according
to Clean Cargo Working Group(CCWG)’s methodology. In 2021,
Scope 1 emission intensity wascalculated based on voyage leg
completion basis as it allows forhigher data granularity and analysis
of operational efficiency on a per
voyage basis. Scope 1 emissions
were calculated based on the
total number of vessels operating
during CY2021, which is 251.
Our Scope 2 emissions come fromthe consumption of purchased
energy in our offices and coldironing, where a vessel shuts
down its generator engines whenberthed and is connected toan onshore power supply . We
have been measuring Scope
2 emissions from our global
headquarters (GHQ) situated in
Singapore since 2018. In 2021,
we have extended the scope of
our emissions inventory to include
energy consumed in our regional

Operational Excellence

Governance Performance Data

GRI Content Index

UNGC Index

51

Appendix

headquarters (RHQs) situated in
Hong Kong, Singapore, United
Kingdom (UK), the United States ofAmerica (USA) and Brazil, and local
offices situated in the Americas,
Asia, Europe, Africa, Oceania andthe Middle East that are underONE’s operational control. Scope 2
emissions also include purchased
electricity from cold ironing thatare only relevant in North America
presently.
Energy consumption is gatheredfrom utility invoices and verified
internally by RHQ and GHQ
representatives. Where energy
consumption is unavailable,
consumption is extrapolated froma geographically similar officelocation. Scope 2 location-based
emissions arising from electricity
consumption are based on Electricity
Grid Emissions Factors provided
by, in order of priority, eGRID (forNorth America only)/Defra (forUnited Kingdom only) or national
authorities and the International
Energy Agency (IEA). Whereavailable, Scope 2 market-based
emissions are based on Electricity
Grid Emissions Factors provided by
Energy Attribute Certificates, Power
Purchase Agreements, suppliers, andResidual Mix (for EU only). Otherwise,emissions are based on Electricity
Grid Emissions Factors provided bynational authorities or IEA.
Scope 2 emissions from heating andsteam are similarly sourced from
DEFRA (2021). On the other hand,
Scope 2 emissions from coolingis estimated using a conservative
estimate for the coefficient of
performance (COP) of air-cooled andwater-cooled chillers4.

Based on the study Review of Standards for Energy Performance of Chiller Systems Serving Commercial Buildings by Yu et. al (2014) whichanalyzed the COP of chillers in commercial buildings across 9 locations, including the EU and more than 50% of locations with cooling
consumption in ONE were accounted for in this study.

2019

2020

2021

46.79

43.67

44.81

Emission intensities from 2019-2020 were calculated based on the calendar year in line with the CCWG's methodology while emission intensity in 2021
has been calculated based on voyage leg completion basis. ONE’s 2021 emission intensity based on the CCWG's methodology is 45.18 gCO2/TEU-km.
The total number of operating vessels in CY2021 is 251

SCOPE 1 EMISSIONS FROM FUEL CONSUMPTION (TONNES OF CO2, EQUIVALENT, TCO2E)
Fuel type

2019

2020

2021

Fuel oil

12,163,491

10,638,466

9,946,604

Gas oil

1,284,634

949,117

981,151

Total

13,448,125

11,587,582

10,927,754

Scope 1 emission factors are referenced from the Clean Cargo Working Group (CCWG) and only CO2 is included. Based on CCWG, “Given that all
relevant energy consumption from ocean container transportation stems from fuel combustion on vessel engines, CO2 emissions is an appropriate
approximation of total GHG emissions.” The total number of operating vessels in CY2021 is 251.

SCOPE 2 EMISSIONS FROM ELECTRICITY CONSUMPTION (TONNES OF CO2, EQUIVALENT, TCO2E)
Year

GHQ

Other Offices and OPS

Total

2019

157.82No data

157.822020

139.55No data

139.552021 (market-based)

142.93

10,072.92

10,215.852021 (location-based)

142.93

10,122.64

10,265.57

As ONE only began collecting global data from CY2021, our Scope 2 emissions from CY 2018-20 only comes from electricity consumption in GHQ.
Scope 2 emissions from reefers in CY2021 were excluded due to a lack of accurate data during the reporting period. Moving forward, ONE aims
to account for all Scope 2 emissions under our operational control. In CY2021, 154 local offices were accounted for under the operational control
approach. CO2e consists of only CO2 emissions

ENERGY

Total energy consumption encompasses fuel consumption of fuel and gas oil as well as use of electricity at ONE
controlled operations. Conversion factors for fuel quantity to TJ are sourced from CDP Technical Note: Conversion of fueldata to MWh, CDP Climate Change Questionnaire 2021.

TOTAL ENERGY CONSUMPTION (TJ)
2019

2020

2021

Fuel consumption

174,945

149,158

140,813

Fuel oil

157,715

136,428

127,653

Gas oil

17,23012,73013,160

Energy consumption

1

1

148

Non-renewable energy

1

1

147

Renewable energy

0

0

1

174,946

149,159

140,961

Total
4

SocialSCOPE 1 EMISSION INTENSITY (GRAMS OF CO2 EQUIVALENT PER TEU-KM, GCO2E/TEU-KM)

Environmental Performance
The operational control approachis used for the consolidation of data
based on the GHG protocol. Ourinventory covers emissions fromour liner network services. It does
not cover emissions from our inland
services nor terminal operations.
Under the Operational control
approach, 154 local offices were
accounted in CY2021 emissions.

Environment

Conversion factors for fuel oil and gas oil are 40.4 TJ/Gg and 43 TJ/Gg

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

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Environment

OTHER AIR EMISSIONS

Operational Excellence

SocialGovernance Performance Data

GRI Content Index

UNGC Index

53

Appendix

RECRUITMENT IN 2021 BY GENDER AND AGE GROUP

We started collecting data on other air emissions from fuel consumed in our vessels, this includes sulphur oxide (SOx)and nitrogen oxide (NOx).
SOx emissions are calculated based on fuel consumption and sulphur content. Sulphur content is obtained from the
Bunker Delivery Note. However, in the event that vessels have been retrofitted with a scrubber a sulphur content of 0.5%,
in line with the maximum allowable sulphur content for HFO, is used instead.
NOx emissions are calculated based on total fuel consumption and emission factors sourced from the Fourth IMO GHG
Study (2020).

Age group

FemaleFemale (%)

Male

Male (%)

Under 30 yo

192

20.0

223

23.2

30 – 50 yo

150

15.6

313

32.6

Over 50 yo

18

1.9

64

6.7

Note: New hire rate is calculated by total number of new hires in the reporting period over total number of employees as of 31 Dec 2021.

TURNOVER IN 2021 BY GENDER AND AGE GROUP
FemaleFemale (%)

Male

Male (%)

Under 30 yo

82

15.5

73

13.8

257,178

30 – 50 yo

148

28.0

128

24.2

281,003

Over 50 yo

42

7.9

56

10.6

Year

2021

SOx emissions (tonnes, t)

29,956NOx (tonnes, t) - IMO Methodology
NOx (tonnes, t) - Internal Methodology

Age group

Note: The NOx internal methodology has not been externally assured.

Note: turnover rate is calculated by total number of voluntary resignation cases in the reporting period over total number of employees as of
31 Dec 2021.

Social Performance

TURNOVER IN 2021 BY GENDER AND AGE GROUP

The reporting period for social performance data covers 1 January 2021 to 31 December 2021. For previous years 2019and 2020, the reporting period for such data covered the financial year of April to March in the following year, which havenot been restated for the calendar year. The scope for disclosure on training, diversity and inclusion, health and safety,
and governance metrics covers only our direct employees in GHQ and 41 local entities.

EMPLOYEESOur employee data are as of 31 December 2021.

NUMBER OF EMPLOYEES BY EMPLOYMENT CONTRACT
2019

2020

2021

RegionNew Hires

New Hires (%)

TurnoverTurnover (%)

East Asia

77

3.6

99

4.3

Europe and Africa

211

10.5

149

6.4

GHQ

72

15.3

31

6.6

Latin America

105

15.9

39

7.2

North America

90

10.9

117

14.2

South Asia

400

23.7

94

5.3

2019

2020

2021

NUMBER OF TRAINING HOURS PER EMPLOYEEPermanent /Full-time

Contract /Part-time

Permanent /Full-time

Contract /Part-time

Permanent /Full-time

Contract /Part-time

Male

3,552

29

3,684

33

3668

49

Non-executive and junior management

12.1

12.1

11.3

Female

3,740

172

3,880

139

3941

141

Middle and senior management

19.0

11.1

11.2

Board

10.7

6.3

11.1

OCEAN NETWORK EXPRESS (ONE)
54 SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

EMPLOYEES PER EMPLOYEE CATEGORY BY GENDER (PERCENTAGE)
2019

Operational Excellence

SocialGovernance Performance Data

GRI Content Index

UNGC Index

55

Appendix

Health and Safety

2020

ONE SAFETY PERFORMANCE

2021

Male

FemaleMale

FemaleMale

FemaleNon-executive and junior management

53.3

46.7

55.9

44.1

52.0

48.0

Middle and senior management

71.8

28.2

71.8

28.2

69.6

30.4

Board

93.3

6.7

93.9

6.1

92.3

7.7

EMPLOYEES PER EMPLOYEE CATEGORY BY GENDER (PERCENTAGE)
2019

Environment

2020

2019

2020

2021

Number of fatalities

0

0

0

Number of high-consequence workrelated injury

0

0

0

Number of recordable work-related injury

9

5

1

Rate of recordable work-related injury (per1 million hours worked)

NA

0.32

0.064

2021

<30
years

30-50
years

>50
years

<30
years

30-50
years

>50
years

<30
years

30-50
years

>50
years

Non-executive and juniormanagement

22.1

61.0

16.6

21.9

58.4

19.7

20.9

60.3

18.8

Middle and senior management

0.4

61.0

27.7

0.6

59.9

39.5

0.5

58.5

41.0

Board

0.0

27.7

72.3

0.0

32.0

68.0

1.9

28.1

70.0

PARENTAL LEAVE IN 2021
FemaleMale

Number of employees entitled to parental leave

3,048

2,503

Number of employees that took parental leave

250

144

Number of employees that returned to work afterparental leave ended

221

138

Number and rate of recordable work-related injury has been restated for 2020 to reflect our review of the methodology in compiling this data. Rate ofrecordable work-related injury was not available in 2019.

A fatality is defined as work-related injury leading to the death of the employee. A high-consequence work injury isdefined as a work-related injury that results in a fatality or in an injury from which the worker cannot, does not, or is notexpected to recover fully to pre-injury health status within 6 months. A recordable work-related injury is defined as an
injury sustained by an employee that results in death or permanent disability, days away from work/restricted work,
medical treatment beyond first aid, loss of consciousness, as well as any significant diagnosis by a physician/licensed
healthcare professional. To align our external reporting with the way we drive our safety efforts, we have reviewed
how we classify recordable work-related injury and excluded commute-related incidents not on organization-facilitatedtransport. This change only applies to 2020 and 2021 data. We also continue to track Lost Time Injury Frequency Rate
(LTIFR) internally.

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

Environment

GRI Content
Index

GRI Disclosure
NumberGRI Disclosure Title

Governance

Performance Data GRI Content Index UNGC Index

GRI Disclosure
Number

57

Appendix

GRI Disclosure Title

Page references

Ethics and Integrity

Page references102-16

Values, principles, standards, and normsof behaviour

8, 46

102-17

Mechanisms for advice and concerns
about ethics

47

102-18Governance structure

10102-19Delegating authority

10102-20Executive-level responsibility foreconomic, environmental, and social
topics10102-21

Consulting stakeholders on economic,
environmental, and social topics

19, 63Governance

Stakeholder Engagement

General Disclosures
GRI 102:
GeneralDisclosures
2016

SocialGRI Standard

This report has been prepared in accordance with the Global Reporting
Initiative (GRI) Standards Core option. The table below presents our GRI
content index, which specifies each of the GRI Standards and disclosures
reported, including where the information can be found.

GRI Standard

Operational Excellence

102-40

List of stakeholder groups engaged

63

102-41

Collective bargaining agreements

41

102-42

Identifying and selecting stakeholders

19102-43

Approach to stakeholder engagement63

102-44

Key topics and concerns raised

63

102-45

Entities included in the consolidated
financial statements

3102-46

Defining report content and topic
Boundaries

3, 17

102-47

List of material topics

17

37, 52102-48

Restatements of information

55

48

102-49Changes in reporting

102-50

Reporting period

102-51

Date of most recent report102-52

Reporting cycle

3102-53

Contact point for questions regarding
the report3102-54Claims of reporting in accordance with
the GRI Standards

3102-55

GRI content index

56102-56External assurance

64

Organizational Profile
102-1

Name of the organization

6

102-2

Activities, brands, products, andservices

6102-3

Location of headquarters

Singapore

102-4

Location of operations

7

102-5

Ownership and legal form

6

102-6

Markets served

7

102-7

Scale of the organization

7

102-8

Information on employees and otherworkers

102-9

Supply chain

102-10Significant changes to the organizationand its supply chain

There were no significant
changes to ourorganization and supply
chain in 2021.

102-11

Precautionary Principle or approach

22, 28102-12External initiatives

10102-13

Membership of associations

10

Strategy102-14

Statement from senior decision-maker

4

Reporting PracticeThere were no changes
in reporting.
3
27 July 2021

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

GRI Standard

CEO Message

GRI Disclosure
Number

About ONEOur Approach to Sustainability

GRI Disclosure Title

Our Sustainability Progress

Page references

SocialGovernance

GRI Standard

GRI 103:
Management
Approach 2016

Environment
Climate Change (including GHG and other emissions)
103-1

Explanation of the material topic and its
Boundary

17

103-2

The management approach and its
components

22

103-3

Evaluation of the management approach

22

302-1

Energy consumption within theorganization

51

302-4

Reduction of energy consumption

24

302-5

Reductions in energy requirements ofproducts and services

24

305-1

Direct (Scope 1) GHG emissions

51

305-2

Energy indirect (Scope 2) GHG
emissions

51

305-4

GHG emissions intensity

51

305-7

Nitrogen oxides (NOX), sulfur oxides(SOX), and other significant air
emissions

GRI 103:
Management
Approach 2016

GRI 302:
Energy 2016

Performance Data GRI Content Index UNGC Index

GRI Disclosure
Number59

Appendix

GRI Disclosure Title

Page references

GRI 103:
Management
Approach 2016

103-1

Explanation of the material topic and its
Boundary

17

103-2

The management approach and its
components

28

103-3

Evaluation of the management approach

28

Recycling and Disposal of Materials
GRI 103:
Management
Approach 2016

Explanation of the material topic and its
Boundary

18

103-2

The management approach and its
components

31

103-3

Evaluation of the management approach

31

103-1

Operational Excellence
Customer Experience
103-1

Explanation of the material topic and its
Boundary

17

103-2

The management approach and its
components

34

103-3

Evaluation of the management approach

34

103-1

Explanation of the material topic and its
Boundary

17

103-2

The management approach and its
components

32

103-3

Evaluation of the management approach

32

103-1

Explanation of the material topic and its
Boundary

17

103-2

The management approach and its
components

35

103-3

Evaluation of the management approach

35

103-1

Explanation of the material topic and its
Boundary

17

103-2

The management approach and its
components

39

103-3

Evaluation of the management approach

39

403-1

Occupational health and safety
management system

39

403-2

Hazard identification, risk assessment,
and incident investigation

39

403-3

Occupational health services

39

403-4

Worker participation, consultation, andcommunication on occupational healthand safety

39

403-5

Worker training on occupational healthand safety

39

403-6

Promotion of worker health

39

403-7

Prevention and mitigation ofoccupational health and safety impacts
directly linked by business relationships

39

403-9

Work-related injuries

55

Cargo and Container Safety
GRI 103:
Management
Approach 2016

SocialEmployee Health, Safety and Wellbeing
GRI 103:
Management
Approach 2016

52

Marine Pollution and Conservation

GRI 103:
Management
Approach 2016

Operational ExcellenceInnovation and Digitalization

Material Issues

GRI 305:
Emissions 2016

Environment

GRI 403:
Occupational
Health and Safety
2018

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

GRI Standard

CEO Message

GRI Disclosure
Number

About ONEOur Approach to Sustainability

GRI Disclosure Title

Our Sustainability Progress

Page references

Human Rights and Labor Practices
GRI 103:
Management
Approach 2016

GRI 412:
Human Rights
Assessment 2016

103-1

Explanation of the material topic and its
Boundary

18

103-2

The management approach and its
components

41

103-3

Evaluation of the management approach

41

412-2

Employee training on human rights
policies and procedures

41

Talent Management
GRI 103:
Management
Approach 2016

GRI 404:
Training and
Education 2016

103-1

Explanation of the material topic and its
Boundary

17

103-2

The management approach and its
components

37

103-3

Evaluation of the management approach

37

404-1

Average hours of training per year per
employee

38

Programs for upgrading employee skills
and transition assistance programs

37

404-2

GRI 405:
Diversity andEqual Opportunity

405-1

GRI 406:
Non-Discrimination
2016

406-1

Diversity of governance bodies andemployees
Incidents of discrimination andcorrective actions taken

39

Explanation of the material topic and its
Boundary

18

103-2

The management approach and its
components

42

103-3

Evaluation of the management approach

42

103-1

GovernanceSupply Chain Management
GRI 103:
Management
Approach 2016

Operational Excellence

SocialGovernance

Performance Data GRI Content Index UNGC Index

61

Appendix

GRI Standard

GRI Disclosure
NumberGRI 308: Supplier
Environmental
Assessment 2016308-1

New suppliers that were screened using
environmental criteria

48

GRI 414: Supplier
Environmental
Assessment 2016414-1

New suppliers that were screened usingsocial criteria

48

103-1

Explanation of the material topic and its
Boundary

17

103-2

The management approach and its
components

47

103-3

Evaluation of the management approach

47

205-2

Communication and training about anticorruption policies and procedures

47

103-1

Explanation of the material topic and its
Boundary

18

103-2

The management approach and its
components

48

103-3

Evaluation of the management approach

48

103-1

Explanation of the material topic and its
Boundary

18

103-2

The management approach and its
components

49

103-3

Evaluation of the management approach

49

418-1

Substantiated complaints concerning
breaches of customer privacy andlosses of customer data

49

103-1

Explanation of the material topic and its
Boundary

18

103-2

The management approach and its
components

48

103-3

Evaluation of the management approach48

GRI Disclosure Title

Page references

Ethical Business Conduct
GRI 103:
Management
Approach 2016

GRI 205:
Anti-Corruption
2016

Responsible Tax Practices
GRI 103:
Management
Approach 2016

54

Supporting Local Communities
GRI 103:
Management
Approach 2016

Environment

Piracy and Security
GRI 103:
Management
Approach 2016

GRI 418:
Customer Privacy

Illicit Trade

103-1

Explanation of the material topic and its
Boundary

18

103-2

The management approach and its
components

48

103-3

Evaluation of the management approach48

GRI 103:
Management
Approach 2016

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2022

CEO Message

About ONEOur Approach to Sustainability

Our Sustainability Progress

Environment

Operational Excellence

SocialGovernance

Performance Data

63

GRI Content Index UNGC Index Appendix

UNGC
Index

Appendix
Stakeholder Engagement

ONE is a corporate member of the Global Compact Network Singapore(GCNS), the local chapter of the United Nations Global Compact (UNGC)
network. We are commited to support and align our practices with theten UNCG Principles in the areas of human rights, labor, environment andanticorruption. Please refer to the UNGC reference table below for coverageof our efforts in relation to the ten principles. We will continue to support
UNGC by incorporating the ten principles in the way we do business.

Stakeholder
Group

Engagement Method andFrequency

Customers

Materiality survey and interviews Cargo and data security(every 2-3 years)
Carbon emissions
Customer feedback forms
Traceability, track and trace,(annually)and just-in-time shipment
One-on-one communicationfrom sales team through emails,
meetings, etc. (regularly)

Topics and Concerns
RaisedSustainability Report (annually)ONE’s Response
Shared ONE’s policy on data
security
Shared ONE’s Green
Strategy and disclosed
carbon emissions
Implemented end-to-end
cargo tracking system withcustomer visibility.

Human Rights
Principle 1

Principle 2

Businesses should support and respect theprotection of internationally proclaimed humanrights; andpage 40 - 41, 46

Employeemake sure that they are not complicit in humanrights abuses.

Facebook Workplace platform(internal social network –ongoing)Labor
Principle 3

Businesses should uphold the freedom of
page 39 - 41, 46
association and the effective recognition of the rightto collective bargaining;

Principle 4

the elimination of all forms of forced andcompulsory labor;

Principle 5

the effective abolition of child labor; andPrinciple 6

Materiality survey and interviews Equal opportunities(every 2-3 years)
Training and development
ONE’s internal online portal(ongoing)

Annual employee appraisals
Training and development
programs (ongoing)
Local community Partnerships with non-profit
organizations (ongoing)
Community engagement andCSR programs (regularly)

Principle 8

undertake initiatives to promote greater
environmental responsibility; andPrinciple 9

encourage the development and diffusion ofenvironmentally friendly technologies.

page 22 - 31

Anti-Corruption
Principle 10

Businesses should work against corruption in all its
forms, including extortion and bribery.

page 46 - 47

Promote education
Create environmental
awareness

Shared community
engagement activities on
ONE CSR homepage.

Requests for free freighttransportation andfundraising support

Environment
Businesses should support a precautionary
approach to environmental challenges;

Conducted a wider andricher variety of educational
and training courses, bothonline and offline

ONE Townhall session (annually)

the elimination of discrimination in respect of
employment and occupation.

Principle 7

Reiterated fair appraisal
process

Shareholders

Materiality survey and interviews Timely information on
Provided timely and(every 2-3 years)
business performance,
comprehensive information
strategy, operating landscape as requested
Sustainability Report (annually)and business outlook
Updates through email andmeetings (as needed)

Suppliers

Corresponding email exchangewith major suppliers (ongoing)
Sustainability Report (annually)

Operational matters andbusiness issues

Ensured suppliers agreed toSupply Chain Management
Guidelines before engaging
them.

64

OCEAN NETWORK EXPRESS (ONE)

Ocean Network Express Pte. Ltd.
7 Straits View, #16-01 Marina One,
East Tower
Singapore 018936
Attention: The Board of Directors
20 July 2022
Our ref: ASR 02549159 / A556 / FEL/KGB (1)(When Replying Please Quote Our Reference)
INDEPENDENT PRACTITIONER’S LIMITED ASSURANCE REPORT ON
SUSTAINABILITY INFORMATION OF OCEAN NETWORK EXPRESS PTE. LTD.
Dear Sirs
We have been engaged by Ocean Network Express Pte. Ltd. (the “Company” or “ONE”) to undertakea limited assurance engagement in respect of the selected sustainability information from theSustainability Report 2022 of the Company described below for the year ended 31 December 2021(“the Identified Sustainability Information”).
Identified Sustainability Information
The respective Identified Sustainability Information for the year ended 31 December 2021 is set out
below:
1.
2.
3.
4.

GRI 305-1: Direct (Scope 1) GHG emissions in metric tons of CO2 equivalent
GRI 305-2: Energy indirect (Scope 2) GHG emissions in metric tons of CO2 equivalent
GRI 305-4: GHG emissions intensity
GRI 305-7: Nitrogen oxides (NOX), sulfur oxides (SOX), and other significant air
emissions in kilograms or multiples

Our assurance engagement was with respect to the year ended 31 December 2021. We have not
performed any procedures with respect to (i) earlier periods and (ii) any other elements included in
the Company’s Sustainability Report 2022, and in the annual report, website and other publications,and therefore do not express any conclusion thereon.
Reporting Criteria
The Identified Sustainability Information has been assessed against the Global Reporting Initiative(“GRI”) Sustainability Reporting Standards 2020 (“the Reporting Criteria”).

SUSTAINABILITY REPORT 2021

65

Ocean Network Express Pte. Ltd.
Our Ref: ASR 02549159 / A556 / FEL/KGB (1)20 July 2022

Management’s Responsibility for the Identified Sustainability Information
Management of the Company is responsible for the preparation of the Identified Sustainability
Information in accordance with the Reporting Criteria. The responsibility includes designing,
implementing and maintaining internal control relevant to the preparation of Identified
Sustainability Information that is free from material misstatement, whether due to fraud or error.
Practitioner’s Independence and Quality Control
We have complied with the independence and other ethical requirements of the Accounting andCorporate Regulatory Authority (ACRA) Code of Professional Conduct and Ethics for Public
Accountants and Accounting Entities (ACRA Code), which is founded on fundamental principles ofintegrity, objectivity, professional competence and due care, confidentiality and professional
behaviour.
Our firm applies Singapore Standard on Quality Control 1 and, accordingly, maintains acomprehensive system of quality control including documented policies and procedures regarding
compliance with ethical requirements, professional standards and applicable legal and regulatory
requirements.
Practitioner’s Responsibility
Our responsibility is to express a limited assurance conclusion on the Identified Sustainability
Information based on the procedures we have performed and the evidence we have obtained. We
performed our limited assurance engagement in accordance with Singapore Standard on Assurance
Engagements 3000 (Revised) – Assurance Engagements other than Audits or Reviews of Historical
Financial Information and, in respect of greenhouse gas emissions included in the Identified
Sustainability Information, Singapore Standard on Assurance Engagements 3410 – Assurance
Engagements on Greenhouse Gas Statements (collectively the “Standards”). These Standards requirethat we plan and perform our work to form the conclusion about whether the Identified
Sustainability Information is free from material misstatement. The extent of our procedures depends
on our professional judgment and our assessment of the engagement risk.
A limited assurance engagement involves assessing the suitability in the circumstances of theCompany’s use of the Reporting Criteria as the basis for the preparation of the Identified
Sustainability Information, assessing the risks of material misstatement of the Identified
Sustainability Information whether due to fraud or error, responding to the assessed risks asnecessary in the circumstances, and evaluating the overall presentation of the Identified
Sustainability Information. A limited assurance engagement is substantially less in scope than areasonable assurance engagement in relation to both the risk assessment procedures, including an
understanding of internal control, and the procedures performed in response to the assessed risks.

2

66

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2021

Ocean Network Express Pte. Ltd.
Our Ref: ASR 02549159 / A556 / FEL/KGB (1)Ocean Network Express Pte. Ltd.
Our Ref: ASR 02549159 / A556 / FEL/KGB (1)20 July 2022

20 July 2022

The procedures selected included inquiries, observation of processes performed, inspection of
documents, analytical procedures, evaluating the appropriateness of quantification methods andreporting policies, and agreeing or reconciling with underlying records. Given the circumstances ofthe engagement, we also performed the following:
●
●
●

●

67

Purpose and Restriction on Distribution and Useinterviewed management and personnel in Global Headquarter Team in relation to the Identified
Sustainability Information;
obtained an understanding of how the Identified Sustainability Information is gathered, collated
and aggregated internally;
performed limited substantive testing, on a selective basis, of the Identified Sustainability
Information (i) to verify the assumptions, estimations and computations made in relation to the
Identified Sustainability Information; and (ii) to check that data had been appropriately
measured, recorded, collated and reported, to the extent we considered necessary andappropriate to provide sufficient evidence for our conclusion; andassessed the disclosure and presentation of the Identified Sustainability Information.

The procedures performed in a limited assurance engagement vary in nature and timing from, andare less in extent than for a reasonable assurance engagement. Consequently, the level of assurance
in a limited assurance engagement is substantially lower than the assurance that would have beenobtained had a reasonable assurance engagement been performed. Accordingly, we do not express areasonable assurance opinion about whether the Company’s Identified Sustainability Information
has been prepared, in all material respects, in accordance with the Reporting Criteria.

This report, including our conclusion, has been prepared solely for the Company in accordance withthe letter of engagement between us. To the fullest extent permitted by law, we do not accept orassume responsibility to anyone other than the Company for our work or this report.

Yours faithfully

PricewaterhouseCoopers LLP
Public Accountants and Chartered Accountants
Singapore

Inherent Limitations
In designing these procedures, we considered the system of internal controls in relation to the
Identified Sustainability Information and reliance has been placed on internal controls whereappropriate. Because of the inherent limitations in any accounting and internal control system,
errors and irregularities may nevertheless occur and not be detected.
The absence of a commonly used generally accepted reporting framework or a significant body ofestablished practice on which to draw to evaluate and measure subject matter allows for different,
but acceptable, measurement techniques that can affect comparability between entities.
The quantification of the greenhouse gas emissions data underlying the Identified Sustainability
Information is subject to inherent uncertainty because of incomplete scientific knowledge used todetermine emissions factors and the values needed to combine emissions of different gases, and theestimation uncertainty from the measurement and calculation processes used to quantify emissions
within the bounds of existing scientific knowledge. This can affect the ability to draw meaningfulcomparison of the Company’s greenhouse gas emissions over time.
Conclusion
Based on the procedures we have performed and the evidence we have obtained, nothing has come toour attention that causes us to believe that the Identified Sustainability Information for the financial
year ended 31 December 2021 is not prepared, in all material respects, in accordance with theReporting Criteria.

3

4

OCEAN NETWORK EXPRESS PTE. LTD.
7 Straits View #16-01 Marina One East Tower
Singapore 018936
E. sustainability@one-line.com