SUSTAINABILITYREPORT
2023

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About This Report
Reporting Period and Scope
This is Ocean Network Express’s (ONE) sixth annual sustainability report. It provides a summaryof our sustainability commitments and our progress in managing our material sustainability
issues.
The information contained in this report pertains to the period 1 January to 31 December 2022
and our liner network services. It does not cover our inland services nor terminal operations.
Restatements of data, as well as further notes to the performance data included in this report
can be found on page 55-61.
Global Reporting Initiative (GRI) Standards
ONE has reported in accordance with the GRI Standards for the period from 1 January to 31
December 2022. It has applied the Reporting Principles from the GRI Standards to ensure highquality and proper presentation of the reported information. For a full list of disclosures reported,
please refer to the GRI Content Index on page 62.
External Assurance
The data in this report has undergone rigorous internal review. We have additionally sought independent external assurance for selected key
disclosures. Please refer to pages 74-76 for the assurance statement and scope of data assured. Assurance is in accordance with the Singapore
Standard on Assurance Engagements 3000 (Revised) – Assurance Engagements other than Audits or Reviews of Historical Financial Informationand Singapore Standard on Assurance Engagements 3410 – Assurance Engagements on Greenhouse Gas Statements.
Contact
We 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
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Table of Contents
4

Message from our CEO

6• Customer Satisfaction• Physical Operational Excellence• Safety and Security at Sea• Vessel Safety• Anti-Piracy

About ONE• Company Profile• Value Chain of our Business• Our Core Values• Our Business Credo• Corporate Governance• Industry Memberships and Associations• Awards and Certifications

13

Approach to Sustainability• Sustainability Strategy Framework and Policies• Our EGS+O Framework• Sustainability Governance• Materiality Assessment

38

Social• Talent Management• Attracting and Retaining Talent• Learning and Development• Diversity and Inclusion• Employee Health, Safety and Wellbeing• Human Rights and Labour Practices• Supporting Local Communities

50

Governance• Ethical Business Conduct• Compliance and Risk Management• Whistle-blowing and Raising Concerns• Illicit Trade• Responsible Tax Practices• Our Material Sustainability Topics• Supporting the United Nations Sustainable
Development Goals• Summary of Targets and Progress

23

Environment• Our Green Strategy• Climate change• Carbon Management• Operational Efficiency• Green Investments• Alternative Fuels• Ecosystem Building• Marine Pollution and Biodiversity Conservation• Waste Management

31

Operational Excellence• Digitalisation and Innovation• Supply Chain Management• Cybersecurity and Data Protection

55

Performance Data

62

GRI Content Index

71

United Nations Global Compact COP

72

ANNEX Stakeholder Engagement
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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

Dear stakeholders,

Messagefrom our CEO

I am pleased to present ONE’s
sixth annual sustainability report,
covering our performance andprogress. 2022 has been a year of
growth and progress for ONE. As
the effects of the pandemic subsideand the global economy normalises,
we have been presented with
unprecedented new challenges
within the global environment,
including rising geopolitical tensions,as well as a continued emphasis on
strengthening resilience of supply
chains. I am proud to say ONE
has done well to navigate thesechallenges, remaining lean andagile, adapting quickly to a fastchanging environment.
Core to our strategy at ONE, is our
focus on operational excellencein our processes and remaining at
the forefront of innovation throughour drive towards digitalisation totransform our business and improve
efficiency. Our all-in-one mobile
application platform provides ourcustomers with convenient access tocritical information at their fingertips,
such as their shipment status andupdates. Continued enhancements
to the platform in 2022 have also
improved user experience. This has
not only elevated our services andthe customer experience immensely,

GOVERNANCEPERFORMANCEDATA

but also aided in our efforts towards
decarbonisation. Digitalisation also
represents an opportunity for us to
improve the efficiency of our staff
and their wellbeing. We are able toensure we continue to develop theirskills as they progress in terms of theirprofessional development.
Being in an industry that is a major
source of global emissions, taking
climate action continues to remain
front and centre of the shipping
sustainability agenda. As we strive to
become a global leader in sustainableshipping, we established a new
Corporate Strategy & Sustainability
department in July 2022, which sits
within the Corporate & Innovation
Division. The Corporate Strategy &Sustainability department has twounits, the strategy and green unit,
which together help various teams
or departments in ONE to integrate

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green initiatives into our mid-to
long-term business strategy andimplement key programmes. Throughthis, we are able to accelerate ourefforts and the approach outlined
in our decarbonisation roadmap,
prioritising initiatives under our five
key focus areas, spanning carbon
management, operational efficiency,
green investment, alternative fuels
and ecosystem building. Some key
areas we have our eyes on include
reducing our GHG emissions,investing in greener initiatives,protecting marine life and ensuringthat we comply with relevant industry
regulations and collaborating with our
stakeholders. We have participatedin the Rotterdam-Singapore green
corridor and our technical department
is currently working closely with the
shipyard and class society on thedesign and blueprints of our first zero
emission. With these designs andThese various initiatives will
no doubt serve as a catalyst
to propel us on our journey
towards decarbonisation andour ambition to achieve net
zero by 2050.
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GOVERNANCE

blueprints, we will be able to obtain the “AiP (Approvalin Principle)”. These zero emission vessels can be
retrofitted for the use of ammonia and methanol as fuel,carbon capture and storage. We expect to receive thesevessels in 2025. These various initiatives will no doubt
serve as a catalyst to propel us on our journey towards
decarbonisation and our ambition to achieve net zeroby 2050.

presents challenges related to availability and quality.
We are working with partners to establish an assurance
framework to shape standards for the use of biofuels forshipping. Our biofuel pilot project is in its third trial, making
good progress towards establishing a reliable biofuel
supply chain. Besides biofuels, we are also exploring
emerging alternative solutions such as ammonia,
methanol and methane.

Beyond our own operations, we firmly believe that the
decarbonisation of the shipping needs industry-wide
collaboration from all industry players and stakeholders.
To facilitate our customer’s decarbonisation efforts,
we developed an in-house carbon calculator that
adopts industry recognised standards and aims to help
customers understand their carbon footprint. To that end,
we also provide avenues for customers to collaborate
and decarbonise through our key initiatives in green
procurement. Some of the initiatives include setting up
a carbon credit system and working out the assurance
by a third-party verifier that we are aiming to launch at
the end of 2023. These efforts and our detailed andcomprehensive approach towards decarbonisation
through these initiatives and our interim targets will
ensure we remain on track in achieving our 2050 goals.

The progress we have made in sustainability and thesuccessful navigation of the recent pandemic are, without
a doubt, due to the dedication, ingenuity and efforts ofall our employees. It is evident that our people are ourgreatest assets, and we seek to provide value not only to
our customers, but to all the lives and livelihood we touch
across our value chain. The safety and wellbeing of all our
employees remains a foundational essential priority forONE. We have stepped up our efforts to not only focus onsafety, but develop initiatives that care for our employee’s
overall wellbeing. This includes allowing flexible working
arrangements and putting in place measures to facilitateclose working relationships between the management
and our employees. These close relationships inturn create open channels for employees to provide
transparent and honest feedback.

We also aim to contribute to international efforts andpartner closely with other carriers and regulators todevelop ground-breaking technology that can beshared throughout the industry. In 2022, in line with therecommendations of the International Advisory Panelon Maritime decarbonisation, we jointly founded the
Global Centre for Maritime Decarbonisation with six otherindustry players and established a fund dedicated toresearching decarbonisation technology in the maritime
sector. An area of key interest is biofuel, which althoughhaving demonstrated potential as a low carbon fuel, still

For our employees to reach their full potential, we areproud to announce the launch of the ONE Academy,
our group-wide talent management and people
development initiative. The ONE Academy is our marqueedevelopment program which sets the strategic direction
and consolidates our training and development initiatives
under four key pillars. These four pillars will help toengage and empower our employees and cultivate asense of belonging. These programmes will ensure
our people are well taken care of and that ONE’s talentpipeline remains future-ready and resilient.

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Clear, consistent and transparent ethical business conduct
is a fundamental and indispensable bedrock at ONE. We
conduct our affairs with the highest standards of corporate
governance set out in our business credo in full compliancewith all regulations, with zero tolerance towards bribery,corruption or any form of anti-trust and competitive activity.
In a move to further deter potential adverse practices, weestablished the Anti-Bribery Risk Assessment Guidelines
to assess and mitigate the risk of bribes being paid
through third parties, including suppliers and business
partners. These guidelines also include a comprehensive
process to screen third parties. As we move ahead
towards digitalisation, we have increased our attention to
cybersecurity, safeguarding the interests of all stakeholders.
Looking ahead, I am excited about our prospects. The
challenges of geopolitical tension and rising inflation
remain. However, I am confident that the foundations
we have built and our unwavering commitment towards
sustainability have positioned us to be agile, resilient andcreate value for our stakeholders over the long-term. We
will continue to drive innovation and collaborate closelywith all our core business partners, to achieve our vision ofa sustainable shipping industry.
This report is a valuable part of our accountability andtransparency to our stakeholders. Through it we reflect
on our performance and progress, as we strive to drive
continuous improvement across our business. I would liketo thank all employees, customers and partners for yourcontinued support and trust in ONE. Together, we continue
to chart a path toward a more sustainable future.
Sincerely,

Jeremy Nixon

Chief Executive Officer
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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESS

About ONEENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

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

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSCOMPANY PROFILE

ONE is one of the largest container shipping lines in
the world by fleet size, with an extensive liner network
covering more than 120 countries internationally. ONE wasformed in 2018 through the integration of the container
shipping services of three Japanese shipping companies
Kawasaki Kisen Kaisha, Ltd. (K Line), Mitsui O.S.K. Lines(MOL) and Nippon Yusen Kaisha (NYK). NYK owns a 38%
holding in ONE while MOL and K Line own 31% each.

VALUE CHAIN OF OUR BUSINESSONE offers end-to-end shipping services for businesses
including inland services by rail, barge or truck in addition
to coastal services. We ship a wide 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, andpharmaceutical products. We also provide value-added
services such as market intelligence, e-commerce
services and procurement of operation assets.
Our shipping services are capable of transporting
container types including Dry containers for generalcargo, Reefer containers for frozen or chilled cargo, Flat
Rack containers for heavy lift, overheight and/ or overwidth cargo and Open Top cargo for overheight and/or
lengthy cargo.

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SCALE OF OUR OPERATIONSSCALE*Figures here as of 31 Dec 2022
*Figureshere asOF
of 31 OPERATIONS
Dec 2022
st

8,816

US$ billion

29.2
in total

employees

54

REVENUE

28,30046

CUSTOMERS IN
111 countries

GROUP COMPANIES

countries

regional HQs and a Global HQFLEET OF

206*

Serving more thanacross244

Total vessel capacity of

1.5

vessels, including

vessel ports of call and166

million TEUs

46 super large vessels of 14,000 and 20,000 TEUs

service loops*206 active vessels are recorded at the end of 2022 but 230 vessels are in operation throughout 2022

ASIA – NORTH AMERICA

RHQ
LondonEUROPE – NORTH AMERICAINTRA EUROPE
EAST ASIA
RHQ
Richmond

AFRICAASIA – EUROPE
WEST ASIA

All our vessels are chartered vessels. As a ship operator,
ONE is responsible for the vessel operations and logistics,
such as scheduling and voyage instructions, arrangementof bunkers, and so on. Nonetheless, we work closelywith the 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 to ensure safe operations.

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RHQ
Hong Kong

GHQ/RHQ
Singapore

LATIN AMERICA

OCEANIARHQ
Sao Paulo

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OUR CORE VALUESLEAN & AGILE

BEST PRACTICEQUALITYINNOVATION

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 e xceeds
customer expectations

Delivering services that
contribute to the customer’sbusiness through self
innovation and creativity

RELIABILITYTEAMWORKCHALLENGE

CUSTOMER SATISFACTION

Delivering stable,
sustainable andprofessional services

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

Focus on customer n eeds welland deliver satisfaction thatexceeds expectations

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3. ENHANCED SECURITY
We have established strong security measures toprevent the disruption and abuse of international
logistics networks, prohibiting any type of illegal
activity and the unauthorised access and leakage of
information.
4. COMPLIANCE WITH LAWS AND ORDINANCES,
RESPECT FOR HUMAN RIGHTS
We recognise our role in society and act in a mannerthat is fair and just by complying with national laws
and ordinances and international norms. Corporate
activities should adhere to social mores, respecthuman rights, honour local customs and practices, andaddress the concerns and interests of stakeholders.
5. EXCLUSION OF ANTISOCIAL ACTIVITIESWe resolutely stand against all antisocial forces andorganisations that threaten the order and safety ofcivic life.

ONE recognises our role in providing
safe and reliable services while
meeting our customers’ expectations
and maintaining their trust.
At the helm of our brand, ONE’s
Business Credo enshrines 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 nottolerate bribery or corruption in any form.
2. ENVIRONMENTAL AND SAFETY INITIATIVES
We undertake initiatives to enhance safety andto preserve the marine environment and natural
ecosystems, and seek to develop and refine safe,
environment-friendly transportation technologies.

6. DISCLOSURE OF INFORMATION AND
COMMUNICATION WITH SOCIETY
We disclose corporate information in a proactive andfair 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 WORKENVIRONMENTS
We respect the diversity, individuality, and humanityof employees and facilitate the activities of a diverse
workforce. We make every effort to preservefavourable work environments.
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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENTCORPORATE GOVERNANCE

ONE’s Holding Company (HoldCo) in Japan oversees the governanceof our global headquarters in Singapore (ONE GHQ). As a company
registered in Japan, HoldCo is held to comply with the Companies Act,
Corporate Governance code which includes the need for an audit byexternal auditors for internal control systems.
ONE GHQ oversees the governance of regional offices, branches,
subsidiaries and joint ventures, with delegation to regional 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.
Directors of GHQ (OpCo), who are also managing directors, are electedby the HoldCo Board of Directors based on their managerial qualities
and competence and taking into account our shareholders’ inputs. The
management of operations is carried out at GHQ OpCo level, independent
from HoldCo. As such, Directors are directly involved in the managementof daily operations.
The Board has overall responsibility for performing the duties of strategicplanning and providing oversight, including for the company’s sustainability
strategy. They are supported by three key functional Divisions, working
closely with the Compliance Committee and Business Strategy Committee.

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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)

OpCo Shareholder
meeting
Compliance
Committee

Board of Directors

Risk Management
Committee

GLOBAL HEADQUARTER(GHQ)

External
AuditorCEO

Corporate strategy
meeting

Internal Audit(GHQ)

Divisions of GHQ

Corporate & Innovation

Product & Network

Marketing & Commercial

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Memberships and Associations

CLEAN CARGO:
A business-to businessleadership initiative thatinvolves major brands,cargo carriers, and freight
forwarders dedicated toreducing the environmental
impacts of global goods
transportation and promoting
responsible shipping.

GLOBAL MARITIME FORUM(GMF):
An international non-profit
organisation committed
to promoting the shipping
industry. ONE is a signatory
to the Global Maritime
Forum’s Call for Action
on the decarbonisationof shipping in line with
the International Maritime
Organisation’s (IMO) strategy.

DIGITAL CONTAINERSHIPPING ASSOCIATION(DCSA):
A non-profit organisation
established to further
digitalisation of container
shipping through technology
standards. ONE, A.P.Moller–
Maersk, Hapag-Lloyd and
MSC are founding members.

SGTraDex:
A platform that facilitates theexchange of logistics data
in a secure environment,
established by a public-private
alliance working on supply
chain-related digitisation in
Singapore. ONE is one of thefounding members.

GLOBAL CENTRE FOR MARITIMEDECARBONISATION (GCMD):GCMD was set up in 2021 asa non-profit organisation to
support decarbonisation of themaritime industry to meet or
exceed the International Maritime
Organisation's (IMO) goals for2030 and 2050. ONE is one of
the 6 founding members.

SINGAPORE SHIPPINGASSOCIATION (SSA):
Singapore’s national tradeassociation to serve andpromote the interests of its
members and to enhance
the competitivenessof Singapore as an
International Maritime
Centre. As a member,
ONE actively participatesin forums, feedback anddialogue sessions withkey regulatory agencies
and international maritime
organisations.

UNITED NATIONS GLOBALCOMPACT (UNGC) MARITIMEJUST TRANSITION TASKFORCE:
the first global sectoral task force
dedicated to a ‘Just Transition’and seeks to strengthen andcoordinate collaboration between
governments, industry, workers
and academia towards a safe,
equitable and human-centred
approach to the transition
towards a decarbonised shipping
industry. The Task Force issupported by a ‘Global Industry
Peer Learning Group’ (GIPLG)
which ONE is a member of.

WORLD SHIPPING COUNCIL(WSC):A trade group representing
the international shipping
industry. As a member, ONE
collaborates with othercompanies and governments
to develop actionable solutions
for global transportation issues
and promote environmental
stewardship. ONE’s CEO Jeremy
Nixon has been nominated andacting as co-chairman sinceNovember 2020.

GLOBAL COMPACT NETWORKSINGAPORE (GCNS):
The local chapter of the United
Nations Global Compact(UNGC). As a member, ONE
endorses the ten UNGC
Principles in the areas of
Human Rights; Labour;
Environment; and Anticorruption.

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Sustainability Awards and Certifications

AEO (Authorised Economic Operator):
ONE obtained AEO status in UK (2019)
and Netherlands (2018). AEO is definedby the World Customs Organisation
SAFE Framework of Standards as a party
involved in the international movementof goods that has been approved bya national Customs administration ascomplying with WCO or equivalent
supply chain security standards.

ISO14001 (ENVIRONMENTMANAGEMENT SYSTEM):
An international environment management
system standard set by the International
Organisation for Standardisation (ISO).

Customs Trade Partnership Against
Terrorism (CTPAT):
ONE joined CTPAT, a voluntary publicprivate sector partnership program,
since 2018, to work with the U.S.
Customs and Border Protection toprotect 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 medal frombusiness sustainability ratings specialist
EcoVadis for our commitment to driving
sustainability in our business throughour policies, actions, and results in 2022,
putting us in the top 20% of companies
rated by EcoVadis in our industry.

ONE GHQ received ISO14001:2015
certification in 2018 from ClassNK andONE EUA received the certification in
2021.

ISO9001:2015 (QUALITYMANAGEMENT SYSTEM):
An international standard set by
the International Organisationfor Standardisation (ISO) thatspecifies requirements for a quality
management system.

CDP:
CDP is the largest & most wellrecognised corporate climate disclosure
platform in the world. ONE began
responding to CDP since 2020 and in
2022 began disclosing against both
Climate Change and Water Security.

We have received our ISO9001:2015
certification in 2021 from ClassNK.

We have received a CDP score of B in
2022, improving our score year by year.

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Approach to
Sustainability

While shipping plays a central
role in global supply chains
and remains the most efficientmode of international transport
in terms of emissions intensity,
the mass transport of goods stillcomes with a large and growing
environmental footprint.
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2023

MESSAGE
APPROACHTO
SUMMARYCEOABOUT ABOUTAPPROACHTO
SUMMARYOF
TARGETSOF TARGETS
OPERATIONAL OPERATIONALENVIRONMENTSOCIALENVIRONMENTSOCIAL
GOVERNANCE
FROM OUR CEOONESUSTAINABILITY
AND PROGRESSMESSAGEONESUSTAINABILITY
AND PROGRESSEXCELLENCE EXCELLENCE

Moreover,the industry
industry has
has garneredgarnered aa reputation
reputation asas aa hard-tohard-toMoreover, theabatesectordue
toits
traditionalrelianceonfossilfuels
and thetheabate sector due to its traditional reliance on fossil fuels andvast amounts
amounts ofof fuelfuel neededneeded forfor international
international travel.
travel.
vast
With growing
growing public
public interest
interest inin climate
climate changechange andand thetheWith
environmental
impactofshipping,
as
well
as
demandfromenvironmental impact of shipping, as well as demand fromcompaniesforcurbingemissionsinshipping
theirgoods,
ONE
companies for curbing emissions in shipping their goods, ONE
recognises
the
role
it
can
play
in
decarbonisation
andadvancingrecognises the role it can play in decarbonisation and advancing
sustainability inin thethe shipping
shipping industry,
industry, as
as oneone ofof thethe largest
largestsustainability
container
carriers
in
the
world
by
fleet
size.
container carriers in the world by fleet size.

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Our ESG+O
ESG+OFramework
Framework
To Be Sustainable and Resilient, and A Trusted Partner for Our
Customers in Delivering Global Shipping Solutions.

OUR SUSTAINABILITYPRIORITIESSUSTAINABILITYSTRATEGY
FRAMEWORKSUSTAINABILITY STRATEGY
FRAMEWORKAND
AND
POLICIES
POLICIES
In 2019, we developed our sustainability strategy to focus ourSocial,efforts around four areas of priority: Environment,
Environment, Social,
Governanceand Operational
Operational Excellence.
Excellence.
Governance andThese priorities are based on the material sustainability topics
that drive long-term value for our business and our stakeholders.
ONE’s approach to sustainability is guided by our Business
Credo, which forms the backbone of ONE’s commitment toembedding responsible business practices in all we do. This isunderpinned by policies including our Code of Conduct, Basic
Anti-Bribery Policy, Supply Chain Management Guidelines,
Modern Slavery Act statement, Global HR Policy, as well as thosepolicies that make up our Compliance program, Whistle-blowing
Hotline System, Occupational Health and Safety system andEnvironmental Management System.
We published our UK Modern Slavery Statement in 2020 which
can be found on our website to formalise our commitment toprevent modern slavery and human trafficking in our businessand supply chains. To ensure the same standards of sustainability
and business conduct are upheld along our supply chain,
our Supply Chain Management Guideline spells out ONE's
expectations of our suppliers and business partners to respecthuman rights, business norms and compliance.

Environment

SocialGovernanceOperational
Excellence

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

We nurture and empower
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.

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

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENT

ONE supports the ten UNGC Principles and has pledged to adopt andpromote sustainable and responsible business practices. This means
operating in ways that, at a minimum, meet fundamental responsibilities in theareas of human rights, labour, environment, and anti-corruption.
Policies are communicated to employees via our internal online platform,
and the Code of Conduct, Anti-Bribery Policy and compliance policies are
reinforced on an annual basis through mandatory e-learning and online
assessment.
The policies have been approved by the highest level of management at
ONE, being the CEO and three MDs who comprise the Business Strategy
Committee (BSC). These policies are regularly reviewed to ensure they are
up-to-date and relevant.

SUSTAINABILITY GOVERNANCE

Our Board of Directors at Global Headquarters (GHQ), which includes ourManaging Director and CEO, provides oversight of ONE’s sustainability
strategy and policies. They are supported by the Business Planning Team
who initiates, coordinates and implements sustainability initiatives across thecompany at the GHQ, Regional Headquarter (RHQ) and local office level.
All divisions responsible for sustainability-related management, such as
reviewing of sustainability targets and monitoring their performance, reportto the BSC weekly, while the Risk Management Committee and Compliance
Committee review sustainability topics related to risk management orcompliance biannually. The Communication Department focuses ondetermining the material topics and provides feedback to the BSC
accordingly. Any changes or feedback are communicated by the BSC to eachbusiness department via managing directors who control their responsible
business departments. Lastly, the BSC is responsible for approving thesustainability report content.
This year in July 2022, we also established the Corporate Strategy &Sustainability (CSS) department, which sits within the Corporate & Innovation(C&I) Division. During the year, the Green Strategy Department was moved
from the Product & Network (P&N) Division to the C&I Division and renamed

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to what is presently known as the CSS department, an independent unit
within C&I. The new CSS department signifies ONE’s strategic decision forgreen initiatives as an integral part of the company's overall strategy. The
CSS department comprises two units, the strategy and green unit, which
together help various teams or departments in ONE to integrate green
initiatives into our mid-to long-term business strategy and implement key
programmes.
In addition, the ESG-related disclosure function, which previously included
both environmental and non-environmental matters, as well as the oversightof non-environmental sustainability-related matters, has been carved out as
an independent unit and positioned within the Corporate Communication
Department (COM).
The CSS and COM work closely together to oversee sustainability-related
matters, which are then submitted to the BOD by the COM for approval andmanagement of the Sustainability Report and other external communications.
To ensure competency in sustainability and environmental, social andgovernance (ESG) matters, ONE leverages on various avenues. This includes
the compliance programme which provides regular trainings to ensure that
employees and upper management are well-informed of important issues.
Furthermore, an internal audit department under the direct supervision of the
CEO conducts audits to verify and evaluate the implementation of various
management activities and provides suggestions and advice to the relevant
departments as needed.
For more information on how ONE manages sustainability issues, please see
the section on Governance.

MATERIALITY ASSESSMENT

In 2022, we worked with specialist sustainability consulting firm Corporate
Citizenship to conduct a materiality assessment to help us understand andprioritise the sustainability topics that are most significant for ONE, based on
how they impact the business and its ability to create value, as well as theimpacts generated by ONE on the environment and society.

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We engaged a total of 564 internal and external stakeholders across the regions where we operate, including employees,
customers, suppliers, partners, shareholders and regulators, through an online survey as well as in-depth one-on-one
interviews. A stakeholder mapping exercise was conducted prior to the materiality assessment to identify and prioritise
the relevant groups of stakeholders to engage and seek their perspectives, based on their relative influence and interestin the company.
The materiality assessment followed a systematic three-stage process:1. Context and Topic Identification

Conducted desk-based research and a peer benchmarking exercise to identify sustainability and industry trends
relevant to ONE and its sector, to develop a list of sustainability topics to be prioritised.

2. Stakeholder Identification

Surveyed 487 internal and external stakeholders including employees, shareholders, customers and suppliers
to gather their perspectives on sustainability priorities; interviewed 9 internal and external stakeholders to gain
deeper understanding and insight into the topics.

3. Analysis and Validation

Analysed findings from the stakeholder engagement to determine priorities and presented the results to thesenior management team to validate and finalise the list of material sustainability topics for ONE.

The final list of material sustainability topics has been reviewed and approved by the Business Strategy Committee and ispresented in the table below, categorised by material and important topics, which represents their level of materiality as
determined through the assessment. The material topics are covered within this report to the extent that it reflects theirrelative priority.
A formal materiality assessment will be conducted every 3 years, with a review of our material sustainability topics in theyears between, to ensure we keep pace with relevant industry trends and aware of any shifts in the importance and impactsof our material sustainability topics.

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Our Material
Sustainability Topics

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Direct Impact:
Topics ONE candirectly influenceand manage

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Indirect Impact:

Topics ONE can indirectly influenceand manage, working with partners
including vessel owners and otherstakeholders along the value chain

Priority Topics: Top priority by stakeholders to drive growth, differentiate ONE as a sustainability leader, and/or reflect ONE’s greatest areas of impact. These form thefocus of ONE’s strategy and reporting

Air Pollution

Management of air quality and reducing the impact of air emissions within ouroperations including sulphur dioxide and nitrogen oxide.

Climate Change

Ensuring the management of climate change risks and opportunities throughmitigation and adaptation measures, including the reduction of greenhouse gas(GHG) emissions and energy consumption.

Customer Satisfaction

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

Digitalisation andInnovation

Developing and adopting digital technology and solutions to enhance efficiency
and customer experience and driving maritime innovation through industry
collaboration and partnerships.

Employee Health, Safety
and Wellbeing

Protecting the occupational health, safety and wellbeing for our employees andcontractors.

Ethical Business Conduct

Ensuring adequate systems and processes are in place to uphold the highest
standard of ethical business conduct, including measures to promote anti-corruption,
anti-bribery, fair competition, responsible tax practices and anti-illicit trade.

Human Rights andLabour Practices

Respecting human and labour rights across ONE's operations and value chain,
ensuring decent working conditions and zero tolerance for all forms of child labour,
forced labour or other forms of exploitation

Human CapitalManagement

Ensure talent attraction and retention of highly skilled individuals, providing
training and development opportunities, employee engagement and managementof organisational culture

Marine Pollution andbiodiversity Conservation

Preventing ocean pollution and protecting marine life through the responsible
management of ballast water and the prevention of spills/leakages.

Physical Operational
Excellence

Ensuring high levels of operational efficiency and service reliability through route
optimisation, yield maximisation and process improvement measures, which
contributes to more sustainable and effective operations.
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Indirect Impact:

Topics ONE can indirectly influenceand manage, working with partners
including vessel owners and otherstakeholders along the value chain

Material Topics: Sustainability topics that stakeholders deem as fundamental hygiene factors that the business must get right.

Cybersecurity and Data Ensuring the protection of our business systems and data through adequatecybersecurity processes and data privacy measures
Protection
Diversity, Equity andInclusion

Creating and supporting a diverse and inclusive workplace with equal
opportunities and zero tolerance for any form of discrimination and harassment

Safety and Security at
Sea

Ensuring the safety of our people and cargo at sea, by adopting proper anti-piracy
measures to prevent attacks and the hijacking of our commercial vessels, ensuring
the safe operation of ships and the safe handling of cargo.

Supporting Local
Communities

Supporting and contributing to communities where ONE operates

Waste Management

Minimising the amount of waste generated and ensuring the safe disposal ofhazardous materials, including during the dismantling of ships at the end of theirlifecycle

SUPPORTING THE UNITED NATIONSSUSTAINABLE DEVELOPMENT GOALSThe Sustainable Development Goals (SDGs) wereadopted by the United Nations in 2015 as a universal
call to action to end poverty, protect the planet,and ensure that by 2030 all people enjoy peace
and prosperity. We believe that businesses play animportant role in creating a more sustainable future.
That is why we joined the United Nations Global

Compact (UNGC), which calls on all companies to takeaction in support of the SDGs and align their businesspractices with ten universally accepted principles in
the areas of human and labour rights, environmental
protection and anti-corruption.
At the beginning of 2022, we launched our Green
Strategy, which outlines our vision to become a leader
in shipping decarbonisation and achieve carbon net

zero shipping. Our new green strategy direction alsoaligns and directly contributes to the four previously
identified priority SDGs which we believe we can havethe biggest impact on. While our business activities
touch on all 17 interrelated SDGs, either directly or
indirectly, these four SDGs are of the greatest relevanceand alignment to ONE’s business and sustainability
priorities and represent opportunities where we canbest contribute to sustainable development.
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In addition to the following four priority SDGs, we have also identified SDGs 4, 5, 8, 12, 16 and 17 as relevant to ONE’s overallsustainability agenda, constituting secondary focus areas where ONE’s activities can positively contribute to.
OUR IMPACT ON SDG 7:

AFFORDABLE AND CLEAN ENERGY

Ensure access to affordable, reliable, sustainable and modern energy for all
Underlying targets that we contribute to:

Our activities and initiatives:

7.2 By 2030, increase substantially the shareof renewable energy in the global energy mix

ONE has been implementing its Green Strategy, which involves developing an alternative fuel roadmap to replace conventional marine fuels. Since 2021, we havebeen exploring the use of biofuels to power our fleet and have conducted four successful trials.

7.3 Double the global rate of improvement inenergy efficiency by 2030

ONE is also a founding member of the Global Centre for Maritime Decarbonisation (GCMD), which is currently leading a consortium of 18 industry partners in a
biofuels pilot project. The project aims to establish an assurance framework to ensure the supply chain integrity of biofuels, informing national and international
standards of biofuels bunkering and lowering the barrier for wider adoption. GCMD has recently completed the first two out of five trials tracing the supply chainof biofuel blends from their production site to Singapore, involving five vessels and 4,700 tonnes of biofuel blend. The full pilot project is expected to take 12 to 18
months to complete.
In addition to biofuels, ONE is considering other alternative solutions, such as ammonia, methanol, and hydrogen, and will study our long-term suitability. We
have ordered 10 new large container vessels designed with high efficiency standards and equipped with advanced technologies, including Carbon Capture andStorage (CCS) and the Ready Notation or AiP of Ammonia and Methanol as fuel. This new fleet will enable ONE to expand our exploration of alternative fuels anddecarbonisation technologies in line with our green strategy. We plan to continue working with industry partners to develop the infrastructure required to implement
these solutions. This initiative is in line with the Call to Action for Shipping Decarbonisation.

OUR IMPACT ON SDG 9:

INNOVATION AND INFRASTRUCTURE

Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
Underlying targets that we contribute to:

Our activities and initiatives:

9.4. By 2030, upgrade infrastructure and retrofit
industries to make them sustainable, with increased
resource-use efficiency and greater adoption ofclean and environmentally sound technologies andindustrial processes, with all countries taking actionin accordance with their respective capabilities

ONE has detailed a growth plan which includes a considerable investment sum to improve our fleet and operations by 2030 and to fulfil growth demandcustomers and decarbonisation targets. Investments will go towards upgrading our fleet with a new generation of green vessels and developing digitalsolutions to improve operational efficiency and customer experience while enhancing environmental sustainability.
We also constantly look to support maritime decarbonisation initiatives both within and beyond our own operations. ONE has been actively researching andinvesting in carbon capture utilisation and storage (CCUS) technologies. We have also recently partnered with five other industry leaders to sign a memorandumof cooperation (MoC) with the Maritime and Port Authority of Singapore (MPA). This MoC aims to establish a fund for a maritime decarbonisation centre that will
support crucial research and technology development projects.

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OUR IMPACT ON SDG 13:

CLIMATE ACTION

Take urgent action to combat climate change and its impacts
Underlying targets that we contribute to:

Our activities and initiatives:

13.1 Strengthen resilience and adaptive capacity to climate
related hazards and natural disasters in all countries

At ONE, we have a bold vision to lead the way in shipping decarbonisation. In 2021, we signed the Call to Action for Shipping Decarbonisation, making
a commitment to achieve net zero emissions by 2050. To achieve this ambitious target, we have identified five key decarbonisation initiatives as partof our Green Strategy. These include investing in green solutions, exploring alternative fuels, managing carbon emissions, optimising operations, andcollaborating with industry partners. Through these initiatives, we hope to pave the way for a sustainable shipping industry.

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

Conserve and sustainably use the oceans, seas and marine resources for sustainable development
Underlying targets that we contribute to:

Our activities and initiatives:

14.1 By 2025, prevent and significantly reduce marine
pollution of all kinds, particularly from land-based
activities, including marine debris and nutrient pollution

ONE is committed to the protection of the oceans including preventing pollution from accidental spills and operational discharges. Through our stringent
Vessel Quality Standard (VQS), we work closely with shipowners to ensure compliance with international conventions on ballast water management, antifouling systems and effluent discharge to prevent adverse impacts on marine ecosystems.

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

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

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

In Singapore, ONE has given sponsorship to Mandai Singapore Zoo for activities related to education on biodiversity importance. To complement
this, ONE has also organised an internal awareness program at St. John’s Island for employees to gain deeper knowledge and understanding about
Singapore’s rich marine biodiversity.

As part of our CSR activities, our employees organise and take part in beach cleaning activities. In honour of World Clean Up Day 2022, we launched amonth-long campaign. From our Global Headquarters to our Regional Headquarters and local offices worldwide, more than 400 ONE employees came
together to attend 22 clean up events between September and October 2022. Through this initiative, ONE employees collected 1,200 kg of trash frombeaches, forest trails, parks, and waterways.

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Summary of Targets and ProgressThis section summarises our progress against key targets and commitments which are established to manage our material sustainability topics.
More information about our material sustainability topics can be found in the section on Materiality on Page 17 and 18.

Environment
TARGETS/COMMITMENTS

2022 PERFORMANCE

ClimateChange(including
Energy)• *By 2050: Achieve net zero emissions for our Scopes 1, 2 and 3 emissions• Scope 1 emissions intensity reduced by 58.5% from a 2008 baseline• *By 2030: 70% reduction of Scope 1 emissions per TEU-km from a 2008
baseline*• Scope 2 and 3: Reductions are on track to our 2050 aim to be net zero

MarinePollution andBiodiversity
Conservation• Maintain 100% compliance with IMO2020 sulphur limit• 100% compliance with IMO2020• ONE will work with chartered vessels to ensure zero significant spills• No significant spills reported for 5 years(A significant spill is defined as more than 150 litres overboard/case)• Continued participation in voluntary Vessel Speed Reduction programmes
to protect endangered whales as well as reduce air pollution andunderwater noise.

*Enhanced targets

Read more about our Green Strategy here

Read more about our environmental protection efforts here

Operational Excellence
Customer
Satisfaction
Safety andSecurity at
Sea• 100% of customer bookings done via digital platform by 2025

• 98% of bookings done via digital platform• 100% rollout of Customer Live Chat platform by 2022 (except 3rd party
agents)• Live Chat rolled out to 51 countries (96%)• Zero large-scale or fatal accidents• No large-scale or fatal accidents reported*Large-scale accident is defined as an accident with possible loss of life, major
impact on seaworthiness of vessel, or major damage to third party facilities• 16.5 hours of average downtime per vessel in 2022, down from2021(42.5) and 2020 (20.7). We will continue to monitor and analyse forareas of improvement• Less than 14 hours of average downtime per vessel per year, whileworking towards goal of zero downtime

Read more on our digitalisation efforts here

• No. of Container Fallen in the Sea (in the context of safety & pollution) =66 units
Read more on how we ensure cargo and container safety here
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SocialEmployee
Health and
Safety• Ensuring the health and safety of our employees, striving for zero fatalities

Human
CapitalManagement• We are committed to developing a diverse and inclusive workforce ofengaged employees, embracing all employees as ONE, irrespective of ourdiverse backgrounds• Maintained zero fatalities since 2022
Read more about how we protect our people here
• Average training hours of 10 per employee
Read more about our human capital management initiatives here

• At least 8 hours of average training hours per employee NEW• Achieve more than 90% participation rate for employee engagement
survey and maintain 75% engagement score or higher

Human Rights • Train 100% of employees on a new e-learning course on the Modern
and Labour
Slavery Act by 2022 NEW
Practices• 98.8% of employees trained on Modern Slavery Act

Governance
EthicalBusiness
Conduct• We commit to conducting our business with the highest standards of ethics • 100% of current employees completed mandatory compliance e-learning,
and integrity, as set out in our Business Credo.
including 5 on the ONE Basic Anti-Bribery Policy• Held 22 virtual compliance workshops in webinar style, as well as 153
Compliance group training sessions globally.
• 90% of our employees globally completed 22,128 Compliance E-Learning
courses on 13 Key Compliance topics
Read more on Ethical Business Conduct here

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Environment

Climate change remains a key
priority for ONE. We are making
considerable investments
towards decarbonisation and we
aim to work with and leveragewith our partners and society tomake a bigger difference.
Hiroki Tsujii, Managing Director
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ABOUT ABOUTAPPROACHTO
SUMMARYOF
TARGETSOF TARGETS
OPERATIONAL OPERATIONALMESSAGEAPPROACHTO
SUMMARYENVIRONMENTSOCIAL
GOVERNANCEENVIRONMENTSOCIALMESSAGEONESUSTAINABILITY
AND PROGRESSEXCELLENCE EXCELLENCEFROMOUR CEOONESUSTAINABILITY
AND PROGRESS

Maritime shipping
shipping isis among
among thethe most
most important
important
Maritime
industries toto decarbonise,
decarbonise, owing
owing toto itsits large international
industries
reach andand volume,
volume, which
which continues
continues toto grow. Presently,
reachmaritime emissions
emissions accountaccount forfor approximately
approximately 3% of
maritime
global emissions
emissions annuallyannually and,
and, ifif not
not curbed, will grow to
global
17% by 2050.
As thethe impacts
impacts ofof climate
climate changechange intensify,
intensify, we seek toAssupport thethe transitiontransition toto moremore sustainable
sustainable shipping. Our
supportGreen Strategy
Strategy Department
Department drives
drives ONE’s
ONE’s environmentalGreensustainability endeavours
endeavours andand isis responsible
responsible forsustainability
developing thethe approach
approach to
to integrating
integrating sustainability intodeveloping

To be a global leader in therealisation of environmentally
sustainable shipping.

ONE’S GREEN STRATEGYAt the beginning of 2022, we launched our Green
Strategy and Decarbonisation Roadmap outlining ourcommitment to green excellence and the vision, mission
and targets that we will work towards. Key opportunities
to realise our green ambitions include implementing
measures to reduce our GHG emissions, investments
in greener assets and technologies, protecting marine
life and ensuring compliance with relevant industry
regulations and open collaboration with industry

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.

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stakeholders. Further details on these initiatives can be
25-30.
found on Pages XX-XX.

ONE’s business strategy and objectives.

Decarbonization Targets

Green Vision

PERFORMANCE
GOVERNANCEDATA

At the helm of ONE's environmental sustainability
endeavours is our Corporate Strategy & Sustainability
Department (CSS). Established in 2021, the GSD is
responsible for designing and implementing strategies tointegrate sustainability into our broader business strategy
and objectives. In 2022, ONE established the ONE Green
Office, designed and conceptualised as an educational,
interactive and collaborative space for green initiatives. The
new office is an extension of ONE’s Global Headquarters.

Environmental ComplianceGreen Mission

We will achieve carbon
net-zero shipping in order to protect
our planet via lean and agile bestpractices and open collaboration.

Ship Recycling:
Ensure partner yards comply with thehighest internationally recognised standards.
Environmental conversation:
Ensure ZERO significant spills for all velssels.

Our Roadmap to Meet Net Zero by 2050
2018
ONE
established

Carbon Management
Transition into a low-carbon
economy

2019

2021

First CO2
reduction
targets set

Green Strategy
Department set up
to drive
decarbonization

Operational Effciency
Be the most operationally effcientmaritime container carrier

2022
Net-zero ambition
established with Green
Strategy launched

Green Investment

2023

2030

Obtain zero emission
vessel AiP Launch low
emissions service offering

Invest in green hardware, technologies andtalents to improve emissions reduction

Alternative Fuels

2050

70% reduction in emission
intensity Deploy firstalternative fuel ships

Develop a transitional plan and build
infrastructure for sustainable shipping fuels

Achieve net-zeroemissions acrossScopes 1, 2 and 3

Ecosystem Building
Collaborate with cross-functional stakeholders
to decarbonize the shipping industry

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GOVERNANCEMESSAGEONESUSTAINABILITY
AND PROGRESSEXCELLENCE

CLIMATE CHANGE
CLIMATE CHANGE

In 2021, ONE became a signatory
In 2021, ONE became a signatoryof the Call to Action for Shippingof the Call to Action for Shipping
Decarbonisation which urged
Decarbonisation which urged
the shipping industry to deploy
the shipping industry to deploy
commercially viable zero-emissioncommercially viable zero-emission
vessels by 2030 and set a target
vessels by 2030 and set a target
for zero-emission shipping by 2050.
for zero-emission shipping by 2050.
To cement our commitment to
To cement our commitment tothese ambitious goals, we have set
these ambitious goals, we have set
ourselves the following targets:ourselves the following targets:

By 2030:
By 2030:

70%%
70

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

By 2050:
By 2050:
Achieve
Achieve

net-zero
net-zerofor our Scopes
for our Scopes
1, 2 and 3
1, 2 and 3
emissionsemissions

Our Green Strategy addresses 5 key decarbonisation initiatives to meet these targets:
Our Green Strategy addresses 5 key decarbonisation initiatives to meet these targets:

Operational
Efficiency

Green
Investment

Alternative
Fuels

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Carbon Management
CarbonManagement
In line with our emission reduction targets, we* 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
In orderto aligninwith
IMO,
we thehave
redeveloped
2030 target
using
a 2008baseline.
While
ONE wasnot in businesses
operation until
2018,
these vessels
operating
2008
under
three
Japaneseour
companies,
K Line,MOL
and NYK,
whose
container
shipping
wereintegrated
to form
werein 2008 under
the threeJapaneseLine,gross
MOL emission
and NYK,and
whose
container
businesses
were integrated
nominalTEU-shipping
mile distanceof the threecompanies.to form
ONE. operating
We have calculated
our 2008
baselineusing companies,
the revenueKratio,ONE. We have calculated our 2008 baseline using the revenue ratio, gross emission and nominal TEU- mile distance of the three companies.

CarbonManagement

GOVERNANCEPERFORMANCEDATA

In line with our emission reduction targets, weseek to minimise the impacts of our operations
seek to minimise the impacts of our operations
and implement initiatives to work towards ourand implement initiatives to work towards ourcarbon reduction targets. Our efforts to reduce
emissions from our fleet through operational andemissions from our fleet through operational andfuel efficiency improvements have yielded a 14%
reduction in emissions intensity from 2018 to 2022.
reduction in emissions intensity from 2018 to 2022.
We expect even greater reductions in the future
We expect even greater reductions in the future
as we continue to implement and develop green
as we continue to implement and develop green
solutions for our operations.
solutions for our operations.
Emissions Intensity (gCO₂/TEU-km)
Emissions Intensity (gCO₂/TEU-km)
50
50

48.36
48.36

46.79
46.79

43.67
43.67

44.81
44.81

40
40

Community
Ecosystem
Building

41.5
41.5

30
30

20
20

10
10
0
0

• Deploy internalcarbon pricing
scheme• Develop lowcarbon service
offering;• Study green relatedtech. such as CCS• Further
improvement offuel efficiency
and other
programs• Vesseldigitalisation
program• Invest and upgradeof hardware assets• Invest intogreen related
technologies• Invest into green
talents andexpertise• Develop alternative
fuels roadmap• Zero emission
vessels AiP
obtained by 2023
and first alternativefuel ships to be
deployed by 2030.

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

2018
2018

2019
2019

2020
2020

2021
2021

2022
2022

Please refer to the Performance Data section on
Please refer to the Performance Data section on
Page XX for full data on emissions and energy
Page 56-58 for full data on emissions and energy
consumption. Emission intensities from 2019consumption. Emission intensities from 20192020 were calculated based on Clean Cargo’s
2020 were calculated based on Clean Cargo’s
methodology which is based on voyage basis
methodology which is based on voyage basis
while emission intensities from 2021 onwards have
while emission intensities from 2021 onwards havebeen calculated based on voyage leg completion
been calculated based on voyage leg completionbasis. ONE’s emission intensity based on the Cleanbasis. ONE’s emission intensity based on the Clean
Cargo’s methodology is 45.18 gCO₂/TEU-km in
Cargo’s methodology is 45.18 gCO₂/TEU-km in
2021 and 41.64 gCO₂/TEU-km in 2022.
2021 and 41.64 gCO₂/TEU-km in 2022.
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Scope 3 emissions, which are generated in the value chain
as a result of ONE’s business activities, are especially difficult
to reduce compared to Scope 1 and 2 emissions as theseemissions occur outside of an organisation’s immediate
operations. Nonetheless, we are committed to achieving zero
emissions across our Scope 1, 2 and 3 emissions by 2050.
In 2022, we began conducting a full scope 3 screening
exercise to identify our most material Scope 3 emissions
and develop a roadmap to reduce these emissions. We are
currently in the process of refining our Scope 3 calculations
and plan to disclose Scope 3 emissions for material
categories in future reports within the next 2 years.
In recognition of our ongoing efforts to decarbonize,
ONE received a B rating from the CDP in 2022. CDP is aninternational non-profit organisation that helps companies
and cities measure, manage and disclose their environmental
impact on climate change. This is an improvement from ourC rating in 2021 and a grade higher than the 2022 global
transport and logistics sector average rating of C.

Case Study: ONE Eco Calculator
Recognising that achieving a low carbon future will
require collaboration and partnerships across theentire value chain, we developed the ONE Eco
Calculator to help customers make sustainabletransportation choices. The tool calculates the
carbon emissions from ONE’s operating vessels
allowing customers to easily measure and manage
their transportation emissions. The tool is one of
the company’s milestones in its journey to net zero
emissions.

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Operational Efficiency

To ensure we meet our emission reduction targets, we continue to deploy initiatives aimed at improving ouroperational and fleet fuel efficiency, to reduce energy consumption and carbon emissions. These include:

Improving operational efficiency:• Ensuring optimum scheduling andshorter port stay times to increase
trip efficiency• Slow steaming where possible• Use of shore electric power where
facilities are available• Monitoring of marine weather for
better navigational performance

We monitor the performance of our
fleet through our vessel monitoring
system IBIS PLUS. This enables ONE totake appropriate actions to ensure ourfleet operates at the highest efficiency.
To meet IMO’s upcoming CII and EEXI
regulations, which will require all ships tocalculate their Energy Efficiency Existing
Ship Index (EEXI), measure their energy
efficiency and collect data to report theirannual operational Carbon Intensity
Indicator (CII) and CII rating, we upgraded
IBIS PLUS with new monitoring functions.
To ensure we achieve IMO 2030
targets on EEXI and CII, we continue
to implement measures such as speed
reduction programs and additional vessel
allocations to various services to enhance
our fleet fuel and operational efficiency.

Enhancing fleet fuel efficiency:• Mainenance of hulls and propellers to reduce fricton
casued by fouling• Installed special fins for propellers to improve propulsion
efficiency and reduce fuel consumption• Other technical modifications and maintence to optimise
fleet performance• Use of in-house fleet performance monitoring system tounderstand the impact of our efficiency measures andseek continuous improvement

Case Study:
Reducing Empty Mileage
Sustainable inland transport is a key pillar of ONE’s
procurement strategy. We similarly strive to build
a greener supply chain beyond our maritime
operations and across our inland operations. We doso by using transport planning solutions to optimise
operations. In France, our teams deploy trucks for
carrier haulage to reduce empty mileage, thereby
improving efficiency and reducing emissions.
Following the success of our carrier haulage
operations at ONE France, we are now replicating
this initiative in other parts of Europe with the aim ofbuilding capacity within the sector to improve thesustainability of shipping.

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSGreen Investments

At the heart of ONE’s long-term strategy is investingin greener assets and technologies and ensuring asustainable supply chain for our customers. We plan
to make a considerable sum of investment that will
see us acquire more vessels and containers, develop
digital solutions to improve operational efficiency
and customer experience and upgrade our fleet toaccelerate the transition to net zero.
In line with the Call to Action for Shipping
Decarbonisation, we have set targets to obtain
Approval In-Principle (AiP) for zero-emission vessels
by 2023 and deploy our first alternative fuel ships
by 2030, phasing out conventional fuel vessels by
2050. With this goal in mind, we ordered 10 newlarge container vessels in May 2022 designed withthe highest efficiency standards and equipped with
cutting-edge technologies in preparation for the Ready
Notation or AiP of Ammonia and Methanol as fueland Carbon Capture and Storage (CCS). To reduce
emissions from our fleet, these vessels will be fittedwith bow windshields to reduce wind resistance andimprove fuel efficiency. ONE began trialling the useof these devices in October 2022 and outfitted twoof our vessels, ONE Trust and ONE Tradition, withbow windshields. Early demonstrations by MOL, whopioneered the device, reported emission reductions of
up to 2%.
We have also partnered with Econowind to trial theuse of wind assisted propulsion technology to further
reduce our carbon footprint. The containerized
econowind units use wind to generate thrust, reducing
fuel consumption and emissions by 4-5%. We target tobegin outfitting and trialling this device on our feeder
vessel by the end of 2023.

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This new fleet, to be delivered in 2025 and 2026, will
enable ONE to broaden our exploration of alternative
fuels and decarbonisation technologies in line with ourgreen strategy and decarbonisation plans.

Alternative Fuels

Recognising that a majority of our emissions arise fromthe consumption of fossil fuels on our vessels, we havebeen exploring the use of biofuels to power our fleet
since 2021. We completed our third biofuel trial where
M/V NYK Fuji was refuelled with 1,300 metric tonnes ofmarine biofuel product during bunkering in February
2022. The biofuel product was a blend of brown grease
methyl ester (BGME), a type of fatty acid methyl ester(FAME), with very low sulphur fuel oil (VLSFO). The trials
did not require any modifications to marine engines
or fuel infrastructure thus successfully demonstrating
the potential of biofuel as a low-carbon drop-in fuel.
Despite this, multiple obstacles ranging from feedstock
availability to fuel quality still need to be overcome forbiofuels to become a mainstream energy source.

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To date, there is no industry-wide framework toensure the quality, quantity and emissions abatementof biofuels. To address this, the Global Centre for
Maritime Decarbonisation (GCMD) – of which ONE isa founding member – is leading a consortium of 18
industry partners in a drop-in biofuels pilot project
aimed at establishing an assurance framework toensure the supply chain integrity of biofuels. The pilot
will help shape national and international standardsof biofuels bunkering and lower the barrier to wider
adoption.
Through this pilot, GCMD will assess the traceability
and applicability of existing biofuels, such ashydrotreated vegetable oil (HVO) or fatty acid methyl
esters (FAME), blended with very low sulphur fuel oil(VLSFO), high-sulphur fuel oil (HSFO) and marine gas
oil (MGO) in blends of up to 30% (B30). The pilot will
also be the first to trial the use of crude algae oil (CAO)
as a marine fuel.

Case Study: Alternative Fuels for Trucks
As the transport sector looks for viable alternative energy sources, ONE EUROPE and Kleijn Transport
B.V. have jointly launched a pilot study on the use of Hydrotreated Vegetable Oil (HVO) as a replacementfor diesel in trucking. The synthetic fuel can be used in most modern EURO-6 norm road trucks without
the need to modify engines and has less adverse effects on engine filters compared to regular biodiesel.
Over the course of the next year, ONE and Kleijn Transport B.V. will investigate the use of HVO to fuelONE's trucks in the Duisburg area. The pilot will replace 100,000 litres of diesel with HVO, corresponding
to nearly 300,000 kgCO₂ of emission reductions. Pending the success of the pilot, we target to rollout
this programme to other routes.

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSGCMD recently completed the first two out of five trials
aimed at tracing the supply chain of biofuel blends fromtheir production site outside of Singapore to Singapore
where the fuels were blended and bunkered. The
trials, which took place between October 2022 andFebruary 2023, involved 5 vessels and 4,700 tonnes of
biofuel blend. The completion of the full pilot project is
expected to take 12 to 18 months to complete.
In the meantime, we continue to explore emerging
alternative solutions such as ammonia, methanol andmethane. Looking forward, we target to study suitabilityof these fuels in the long-term and work with industry
partners to develop the infrastructure to develop thesesolutions.

Ecosystem Building

Decarbonisation is a relatively new area for the
shipping industry and one that poses significant
challenges. Meeting the shipping industry’s target toachieve net zero by 2050 will require collective action
across the whole maritime ecosystem. That is why in
2021, we partnered with BW Group, Sembcorp Marine,
Eastern Pacific Shipping, Foundation Det Norske
Veritas and BHP to establish the Global Centre for
Maritime Decarbonisation (GCMD) in Singapore. This
year, ONE along with the GCMD, enlisted as partners
to help establish the world’s longest green and digital
corridor between Singapore and Rotterdam which will
be used by the first sustainable vessels. The project
aims to use low- and zero-carbon fuels while engaging
key stakeholders such as shipping companies, fuelsuppliers and other companies to tackle the challenges
on alternative fuels, efficiency and safety This projectwill complement efforts undertaken by the shipping
industry to support decarbonisation as we work
towards developing scalable green solutions.

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We similarly continued to work with PSA to develop
and implement solutions to reduce maritime emissions
in ports. In May 2022, ONE and PSA successfullycompleted early trials on the use of reclaimed
refrigerants from reefers. Refrigerants are extremely
potent GHGs which contribute to climate change.
Through this initiative, refrigerants are recovered,cleaned, processed and certified before being
recycled back into reefers. ONE will be PSA’s first
customer to use reclaimed refrigerants for their reefer
repairs which can reduce emissions by up to 4,000
kgCO₂ per reefer per year.

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To promote further collaboration amongst the maritime
sector, ONE along with Nagasaki City, Anchor Ship
Partners and Kozo Keikaku Engineering, organised thefirst container shipping summit to discuss the futureof container shipping. The summit was attended by 16
leading experts in Japan across the ESG, shipping, supply
chain, and ship engineering sectors. Experts presented
the latest research and projects being conducted in theirfields as well as future initiatives aimed at achieving zero
emissions shipping, building an efficient and stable supply
chain, environmental protection, and strengthening thecompetitiveness of the container shipping business.

Case Study: Sustainable Inland Transport
As part of efforts to position ourselves as thepreferred partner for a green supply chain, we
actively seek collaboration opportunities to advancedecarbonisation efforts across our entire operations.
In 2022, we collaborated with TFG Transfracht
and METRANS to expand our green rail transport
network. The adoption of TFGeco and METRANS
CO₂ Neutral rail transport services into our European
inland network will help ONE customers to maketheir freight transport even more sustainable. In
comparison to traditional rail freight transport, TFG
Transfracht and METRANS use electricity to power
their trains and offset unavoidable emissions via
carbon offsets to achieve carbon neutrality. Thispartnership will complement ONE’s existing ecofriendly rail offerings in Europe and highlights
our commitment to helping both customers andbusiness partners reduce their emissions.

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSMARINE POLLUTION AND BIODIVERSITYCONSERVATION

Recognising that accidental spills and operational
discharges are the key contributors of marine pollution
from the shipping industry, ONE is committed to zerosignificant spills on vessels and working closely withshipowners to ensure that best practices are implemented
and that vessels comply with all relevant regulations.
To ensure that ONE’s vessels remain compliant, checks,
implementation of procedures and management systems
are applied. Keeping with statutory requirements formaintaining seaworthiness and being in class, ONE
requires vessels to maintain a Shipboard Oil Pollution
Prevention Emergency Plan (SOPEP) and Safety
Management System (SMS). Chartered vessels will
also undergo periodic Vessel Quality Standard (VQS)
inspections and document checks to verify MARPOL
and SOLAS certification and ensure compliance withlocal requirements including bunkering procedures andmaintenance of FO related equipment and records.
Inspections such as these are carried out by third-party
companies in collaboration with our Marine Safety andQuality (MSQ) Department. Vessels are additionallychecked for compliance with international conventions
such as MARPOL and the IMO convention and local
regulations on waste and effluents treatment/discharge.
The requirements for MARPOL encompass ballast
water management and fuel tank protection¹. The IMO
convention on anti-fouling systems includes restrictions
on the use of anti-fouling paints containing tributyltin(TBT). All vessels must undergo inspection before being
chartered. To identify areas of improvement, ONE holds
quarterly feedback sessions with third-party companies.
To ensure preparedness and readiness, ONE’s MSQ
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carries out large scale marine accident response drills
with GHQ, RHQ and selected owners/vessels. As oil spills
have wide-reaching environmental and social impacts,
these are typically selected for drill scenarios alongside oilspill decontamination drills. Incidents involving spillages
are investigated, analysed and recorded in ONE’s Marine
Accident Report System (MARS). The findings from theseinvestigations are then incorporated into preventive
measures for oil leakage with vessels as appropriate via
MSQ accident news. Where necessary, countermeasures
are also drawn up, to prevent recurrence. Should there
be any negligent actions that may have contributed todamaging the environment, employees can report theseobservations via ONE’s hotline system.

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Case Study: Enhancing
Cetacean Habitat andObservation (ECHO) Programme
ONE is a proud participant of the Enhancing
Cetacean Habitat and Observation (ECHO)
Program, a collaborative effort to reduce theimpacts of commercial shipping on at-risk whales.
To reduce the risk of ship strikes as well as reduce
underwater noise, we ensure our vessels comply
with compulsory speed reduction programs
while transiting through important areas for theendangered southern resident killer whales.

In 2022, we are glad to report that, for the fifth year running,
we had no significant spills (more than 150 litres overboard).
We did however have four incidents of accidental spills. Shipowners took responsibility to clean up the affected area.
To prevent further incidents and raise awareness among
other shipowners, ONE reinforced maintenance and ship
management procedures with the ship owners and sharedlearnings from this incident via MSQ news to the rest of the
fleet.
Ship strikes involve collisions between ships and marine
mammals and present a considerable threat to many
species of endangered and vulnerable whale populations.
The threat of ship strikes is intensified by the increase inshipping traffic and speed of vessels around the world.
To mitigate this impact, compulsory speed reduction
programmes have been implemented on routes along the
US East Coast, South Korea and Balboa. We ensure ourvessels plying these routes comply with these conditions
and have also implemented voluntary speed reduction (VSR)
programmes for our vessels travelling in waters along thecoast of New Zealand, New York, California and Vancouver.

MSQ assesses vessels on a case-by-case basis to determine if fuel tanks must be protected based on MARPOL ANNEX I. Regulation 12A.

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Waste washed out to sea poses a hazard tomarine animals and the ecosystem. As part ofour commitment to the protection of oceans, ouremployees organise and take part in activities toprotect waterways, such as beach clean-ups, ocean
clean-ups and pollution awareness as part of ourcompany-wide CSR activities. Further details of ourother CSR activities can be found on Page 46-49.
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Case Study: World Clean Up Day
Following the success of our first ever clean up
event last year, we continued to carry out similar
events across our operations in celebration ofWorld Clean Up Day in 2022. The month-longcampaign involving our Global Headquarters,
Regional Headquarters, and local offices
worldwide saw more than 400 ONE employees
attend 22 clean up events between September
and October 2022. Together, we collected morethan 1,000 kg of trash from beaches, forest trails,
parks and waterways. We hope that this annual
event will help raise awareness of the amountof rubbish that enters our seas and rivers daily,
causing harm to our marine life and ecosystem.

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who wish to learn more. The e-learning module
consists of 4 lessons and 4 quizzes which employees
can complete at their own pace.
We are committed to financing environmental activities
which support long-term efforts towards environmental
conservation. ONE has given sponsorship to Mandai
Singapore Zoo for activities related to education on
biodiversity importance.
To educate our employees and stakeholders, weorganised an internal awareness programme at St.
John’s Island for employees to learn more about
Singapore’s marine biodiversity. Looking forward,
we seek to continue collaborating with GCF and the
National Parks Board, Singapore on being involved infuture marine conservation projects in Singapore.
Our commitment to reducing marine pollution also
extends to reducing SOx and NOx emissions fromvessels which have adverse effects on the Earth’s
atmosphere and oceans. Since 2020, ONE has been
fully compliant with IMO regulations for sulphur2 andNOx. We do this by implementing the use of VLSFO on
our container vessels where feasible and, where this is
not feasible, charter vessels with scrubber systems that
reduce SOx emissions and work with vessel owners toensure compliance with relevant regulations.

Education is one of the levers to promote theconservation of the marine environment to ouremployees and stakeholders. As a part of their
onboarding programme, all employees are required
to complete an environmental awareness training.
Additional e-learning modules on environmental
protection awareness are also available for employees

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of e-waste such as batteries and laptops. Offshore,
we arrange for the proper disposal of garbage andsludge generated onboard our vessels and require
chartered vessels to maintain proper records of any
waste and effluent treatment/discharge. We check theserecords during VQS inspections to ensure they meet
our requirements and rectify any noncompliance withregulations with shipowners.
Besides the waste generated in our offices and onboard
vessels, recycling a ship at the end of its lifetime isanother source of social and environmental concern
in the industry. Ensuring the proper disposal of waste,
protection from hazardous materials and human andlabour rights violations on poorly regulated shipyards
poses significant challenges for the industry. To address
this, we ensure shipyards put in place proper practices
to protect the environment and their workers and carryout preliminary audits using third-party organisations
before they can be engaged by shipowners. We are
currently looking to conduct additional audits to further
minimise environmental impacts during the shipbreaking
and recycling process.
While ONE currently charters all their vessels, we intend
to join the Ship Recycling Transparency Initiative (SRTI)
once we begin commissioning the construction of ourown vessels.

WASTE MANAGEMENT

As a responsible container shipping business, weseek to minimise the amount of waste generated andensure the safe and responsible disposal of waste
across both our onshore and offshore operations.
Onshore, we provide recycling bins in all our offices
and engage licenced recycling companies to dispose

IMO 2020 requires all vessels to ensure a sulphur content limit of less than 0.5% in fuel oil.

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

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Operational
Excellence

Our commitment to customer
satisfaction is what sets us
apart as the best carrier andour digital platforms havesupported this by improving ouroperational efficiency.
Yu Kurimoto, Managing Director
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Ensuring high levels of operational excellence andservice quality is key to our business success. Our
customer-focused strategy has enabled us to becompetitive in the market and serve our customers
consistently and reliably.

DIGITALISATION AND INNOVATION

To drive continuous improvements in the way weoperate, we are developing and adopting digitaltechnology and solutions to increase efficiency andelevate customer experience.
We launched the ONE Digitalisation Roadmap in 2019 toguide the company in building new digital capabilities
to enhance existing business models and services.
Since then, we have been expanding our suite of digitalsolutions to work towards enabling a seamless, efficientand omnichannel customer journey.

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customers to complete core transactions and accesscritical information at their fingertips. For example, there
is a Track and Trace function for customers to monitor
the status of their shipment at their convenience. We
also introduced several mobile-specific features tofurther enhance our customers’ user experience. These
include push notifications that provide our customers
with timely updates on their latest shipment milestones,
and a QR code scanning function to minimise the hassleof typing lengthy shipment details.

Quote in several phases to expand our service coverageand introduce useful and novel features that digitalise
tedious tasks.

In 2022, we added a new Detention and Demurragecalculator function to further enhance customers’ ability
to ship on-the-go. The Demurrage and Detention
calculator provides information on free time andadditional detention or demurrage charges and is avaluable and popular feature customised for mobile.
E-payment capability has also been added to enable
customers to make online payments easily and securely.
This service is currently available in Singapore, Hong
Kong, Thailand, Indonesia and China, and will be rolled
out to more countries as ONE continues to review areasfor expansion.

Our new end-to-end e-commerce platform launchedin 2022, brings convenience to our customers byallowing them to do everything easily and efficiently ona single platform. The e-commerce platform has also
been designed with the intention of being not only
comprehensive but also intuitive. Integration of the
e-commerce platform with ONE’s existing applications
provides a seamless user experience, serving as a
one-stop solution to our customers’ shipping needs,
covering everything from scheduling to finance. To help
our customers independently navigate the platform
with ease, tutorials and a live chat option have been
incorporated to improve user experience and increaseuser satisfaction.

Understanding the importance of customer feedback
in improving our customer experience, we have also
released a feedback page on the app for customers toshare their experience so we can continue to invest in
improving mobile friendly applications.

One of the key developments is our Mobile Application,
launched in May 2021. It is an all-in-one platform for

PERFORMANCEDATAThe Mobile Application is integrated with our digitalquotation platform, ONE Quote to empower customers
with instant access to quotations and bookings. ONE
Quote has further reduced average booking turnaroundby 4.3 hours in 2022, on top of the 6 hours (82%)
reduction achieved since its launch, compared to otherbooking channels. We will continue to update ONE

We are making steady progress
towards our goal to have 100% of
customer bookings done online,with 98% achieved as of end 2022.

We continue to enhance our eCommerce offerings andhave included new features such as a mini dashboard
which gives users a quick overview on the status of
items such as bookings and shipping instructions,checklist to guide users in the completion of thenecessary steps required based on the cut off times
and increased accessibility with the capability to importand export shipment overviews. These capabilities have
improved booking synchronisation with our operational
system for faster processing and confirmation ofbookings for customers. Booking finalisations now only
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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
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take approximately 4 hours compared to 6 hours in
2021.

Quote

ScheduleBook

ONE
e-Commerce
platform
Notification

Documentation

Finance

Track &
Trace

In addition to our in-house digitalisation efforts, we
also seek to drive maritime innovation through industry
collaboration and partnerships.
For example, we are collaborating with other carriers toenable electronic bill of lading (eBL) to be used by allindustry stakeholders with the goal to have 100% eBL by
2030. We also plan to expand electronic documentation
to other areas such as import-related documents, which
will result in not only cost savings and greater efficiency

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but also protecting environment through reduced
paper usage.
ONE is also one of founding members of theSingapore Trade Data Exchange (SGTraDex), aninteroperable common digital infrastructure thataims to integrate information flow across complex
supply chain networks, strengthening the financing
integrity of trade flows while enhancing the endto-end visibility of container logistics. Through this,streamlining the flow of information whilst providing
a trusted and secure platform for data sharing
in an inclusive manner. SGTraDex was launchedin 2021 and conceptualised by the Singapore
Together Alliance for Action (AfA) on Supply Chain
Digitalisation as a public-private partnership.
Together with other private and public-sector
partners, ONE hopes to be able to further enhance
Singapore’s position as a major global trade hub by
expanding the scope and range of SGTraDex’s use
cases and drive its adoption both locally and globally.
SGTraDex was used in our recent biofuel pilot project
trial to facilitate the secure digital exchange of data
for the first bio marine fuel trade between Chevron
and ONE. The transaction was accompanied by
the exchange of documents such as the certificate
of quality, bunkering sales confirmation, bunker
delivery note, bunkering sales invoice (delivery) andsupporting documents like mass flow metre (MFM)
receipts, MFM seals checklist, metre recording
form and International Sustainability and Carbon
Certification (ISCC). This successful implementation of
SGTraDex in this transaction not only aligns with our
digitalisation and sustainability efforts, it also further
enhances efficiency and helps the industry be more
future-ready.

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CUSTOMER SATISFACTION

Our digitalisation efforts are closely aligned to ourcustomers’ needs and expectations, serving as anenabler of our customer strategy to uphold high levels ofcustomer satisfaction.
Besides enabling a simple, efficient and consistentcustomer journey through our digital solutions, we seek toensure consistent delivery of service quality and reliability,
as well as to be responsive to customer needs.
To enhance customer experience, creating seamless,convenient and timely customer service andcommunication our Customer Live Chat is progressively
being integrated into ONE Force. As an integrated
customer relationship management solution, it aims tostreamline all customer needs and queries, increasing ourefficiency and creating a positive customer experience.
The integration process will be completed in Q3 of 2023
and ONE Force will be available across a total of 52
countries.
Following this, we aim to expand ONE Force to countries
where our third-party agents reside. This integrated solution
will allow customers to connect with our team in realtime through the chat function. A 24/7 ChatBot provides
customers with a round-the-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 human touch. To capture
and improve the performance of the chat function wemonitor the customer satisfaction (CSAT) ratio. Decreases
in the ratio would prompt an investigation to determine
the underlying cause of the decline. Presently we have aservice KPI of 95%, an increase from 90% in 2021.
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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSAs we refine and expand our productofferings, we plan to implement a
standardised set of service KPIs tomeasure timeliness, accuracy, ande-commerce adoption. We are also
modernising our support channels
and processes to provide ourcustomer-facing teams with the righttools & integrated data visibility acrossour internal systems, backed up by
standard operating processes tobetter support our customer demands.
In recognition of our service efforts, weare proud to mention that TysonFood
has awarded ONE for our outstanding
performance. This is the first time

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we have received this award fromTysonFood and marks a significant
achievement for us. We also continue
to receive recognition and receive
awards from our valued customers.
For the fourth year running, Hellmann
Worldwide Logistics, ONE has been
awarded the Carrier of the Year Awardin the North America regions. Similarly,
ONE Philippines, for the second year
in a row, has received the coveted
2022 Shipping Line of the Year award
from our key account customer Toyota
Motor Philippines Logistics Inc. Theseawards affirm our commitment todelivering excellence and drive us tocontinuously improve.

During the last year the market went through troubled
waters as markets changed rapidly. The rising inflationand energy crises leading to lower demand andendroding rate levels all over the world.
ONE proved the strong global partnership with Hellman
during those turbulent times. It goes without sayingthat ONE's ongoing high performance and dedication
had to be rewarded by being among the winners of the
Global and Regional FCL Carrier Awards in 2022.

SOCIAL

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PHYSICAL OPERATIONAL EXCELLENCEHigh levels of customer satisfaction and service quality cannot be met if we do
not execute on-time delivery of our customers’ goods.
We employ various tools and approaches to ensure high levels of operational
efficiency and service reliability, including route optimisation, yield maximisationand process improvement measures, which contributes to more sustainable
and effective operations.
To optimise vessel operations, we have employed the following instruments
and tools:
Optimum Routing under
weather impact by Global
Ocean Routing Advisory(GORA)
Regular monitoring of route weather
conditions to propose
Skilful Stowage Operations
to achieve cargomaximisation of vessel
Optimisation of stowage plan tomaximise cargo volume per vessel
and productivity of loading/discharging
operation.
Enhancement of IBIS PLUS
system (Efficient decision
making by data analysis)
To enhance the Data Driven Service
Lane Management, with a convenient
user interface to meet the needs of
our users. Regular updates continue
to be implemented to improve its
performance.

Strategic
Scheduling
Prioritisation of vessel line-up:
Optimisation of services and vessels
through prioritisation, considering
key factors such as vessel
specifications, handling volume,
major cargo type for either coastal
operation or port calls.
Data Driven Service Lane
Management Interfacing withIBIS PLUS system:a plan is quickly created through theevaluation of the operating vessels’
information alongside the scheduleof other carriers.
Micromanagement of reducing
emissions:
Daily checks of the vessel'soperational status and monitoringof whether the operational plan
recommended and agreed upon in
the process is implemented.
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Vessel operational efficiency is alsoenhanced by ensuring regular andtimely fleet maintenance, including
hull cleaning and vessel modifications
to improve propulsion efficiency andreduce friction caused by fouling.
As a buffer against unexpecteddisruptions, we continued tomaintain a reasonable inventoryof empty containers and arranged“sweeper” vessels to strategically
reposition empty containers. These
procurement and repositioning
operations were guided by ourmarket and demand forecast,ensuring our swift response tounexpected demand surges or
disruption such as country lockdowns.
Under our Business Collaborative
Council, formed to ensure lean
and agile business response, theglobal ONE team worked tirelessly
to minimise the impact of multiple
disruptions, including chronic port
congestion throughout Europe
and Asia, diminished land transportcapacities, manpower shortages andimpaired container yard fluidity. Ourability to manage these disruptions
and their cascading effects withoutcompromising on stability andquality of service is testament toour commitment to operational
excellence and serving our customers
to the best of our abilities.

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Optimising Terminal Operations
Shorter the berthing-unberthing operations andimproving stowage plan allow port operators
to maximise cargo volume per vessel and the
productivity of loading and discharging operations.
Optimising these elements would lead to shorter
port stays and increased productivity. To maximise
productivity of loading/discharging operation, andlifting volume per vessel, information such as vessel
specification and cargo mix, characteristics andhabits of equipment/facilities of each terminal need
to be considered. Knowing each other and pain
points in details are important elements to devise asuitable stowage plan and port operations.
Our Terminal Partnerships Programme (TPP) started
in 2019 with nine ports and as of 2022 partnerships
for this programme have expanded to a total of
20 ports spanning across Asia, Europe, Americaand Africa. The TPP aims to enhance the efficiencyof terminal operations such as cargo handling
productivity and service reliability and reduce costs
through building strong collaborations with third
party ports, exchanging information and providing
mutual benefits. Also collecting and developing
Best Practices amongst the terminals, which are
unique activities that involve try and error andrealise operations together that have never been
experienced in the terminal before. (e.g. Dual
Cycling Cargo Operation). With close cooperation,scheduling, stowage planning and equipment
deployment can improve productivity and service
reliability.

SOCIAL

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SAFETY AND SECURITY AT
SEA

Ensuring the safety of our people
and cargo at sea is of utmost
importance. We do this by putting
in place and enforcing stringent
standards for safe vessel operations
and cargo transportation, as wellas adopting proper anti-piracy
measures to prevent attacks and the
hijacking of our commercial vessels.

Vessel Safety

The safe operation of ships
and transportation of cargo isfundamental to delivering thehighest standards of customer
service and enabling a smooth flowof operations.
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

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with ONE’s safety policies andprocesses. Following inspection,
ONE will work with shipownersof vessels that violate our safety
standards to address identified
risks.
To complement the ONE-VQS
and further augment our safety
infrastructure, we implementeda Quality Management System(QMS) that is certified against
ISO 9001:2015, the international
standard for quality management
systems as set by the International
Organisation for Standardisation(ISO). The QMS serves tostreamline our workflows andtighten our vessel safety and quality
protocols. We registered our QMS
under the ship classification society
Nippon Kaiji Kyokai and received
our ISO 9001:2015 certificate in
March 2021. In addition to ensuring
our continued compliance with the
ISO 9001, the MSQ department
is tasked with conducting training
sessions to raise awareness of theISO 9001 among our employees.
Physical ship inspections inaccordance with VQS havealso resumed with the gradualremoval of COVID-19 restrictions.
We managed to conduct 71 VQS
inspections onboard operating
vessels in 2022, compared to 17
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the year before, steadily making our way back toward our
pre-pandemic goal of at least 100 inspections a year.

labelling, storing, handling and transporting hazardous
goods are followed.

71 VQS inspections onboard
operating vessels in 2022,
compared to 17 in the year before

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 respond swiftly 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
established within the GVO department to monitor shiprouting more closely. In addition, we have also upgraded
our internal IBIS PLUS system to enhance our capacity tomonitor extreme weather conditions.

We also launched our Marine Safety and Quality
Campaign between 8 August and 30 September 2022,
building on the success of past campaigns implemented
during the pandemic. The campaign focused on
reinforcing good practices from past inspections of ONE
fleets. Crew members of vessels under ONE’s operations
inspected their ships for risks in areas which have beenprioritised to reflect past events and the results of lastyear’s campaign. Following this self-assessment, crew
members are tasked with rectifying any identified risks ordefects, allowing ONE to raise safety standards and affirm
its commitment towards delivering reliable and quality
service. 131 vessels, making up 66% of the total fleet
responded, and we received many valuable feedback
and findings from the vessels.
Beyond vessel safety, we developed and implemented an
Operational Standard to guide ship crews through various
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 and theft,
unauthorised stowaways, and 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 is periodically reviewed and updated as needed.
Training based on our DG policy is conducted by GCS for
our Global and Regional HQ staff to ensure processes for

Any accidents that occur are recorded in ONE’s Marine
Accident Report System (MARS), allowing us to address
their cause while building a database of accident
information to improve our safety practices. Based on
the information gathered, our MSQ department will workwith relevant departments to formulate and implement
preventive measures, disseminating these updates
through a monthly newsletter. Apart from shoring up
our internal safety culture, ONE also works closelywith shipowners and ship management companies toadvocate the importance of safe practices in lashing,cargo stowage and the maintenance of equipment toship crew.
Owing to our efforts to improve vessel and operationalsafety, the average downtime per vessel due toaccidents or problems has decreased to 16.5 hours in
2022 compared to 42.5 hours in 2021 and 20.78 hours
in 2020. We will continue to work towards our mid-termtarget to lower the downtime of vessels beyond 14
hours, with the end goal of zero downtime.

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The average downtime per vessel
due to accidents or problems has
decreased to 16.5 hours in 2022
compared to 42.5 hours in 2021
In 2022, we had one incident where 66 containers
dropped from our vessel Madrid Bridge in January 2022.
In light of this incident, we will review and improve ourocean routing and stowage protocols to reduce future
incidences of containers lost overboard. ONE also joined
a wide consortium of industry stakeholders organisedby the Maritime Research Institute Netherlands (MARIN)
to roll out a joint industry project known as TopTier.
Through extensive research involving a review of current
practices, gap analyses and mathematical modelling,
TopTier aims to identify and recommend improvements
to existing container ship regulations. In turn, TopTier not
only lowers the probability of container loss at sea, butalso contributes to a safe and level playing field acrossthe maritime industry. As a member of several TopTier
working groups, ONE aims to determine the causes ofcontainer collapses and leverage TopTier’s research toenhance the standard of vessel safety across its fleet.
There were no large-scale or fatal accidents in 2022. We
will continue to monitor and analyse accidents to identify
areas of improvement. Our performance in this domain
is monitored by our senior management via an annual
Safety Management Review, allowing us to evaluate
our policies and implement changes when necessary.
For example, rough weather thresholds were revised
for routing safety. Besides the regular monitoring andreviews, reactive policies are also introduced regarding
security at sea or port areas. The Indian Ocean High
Risk Area was removed at the beginning of 2023 due to
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the improved piracy situation in theregion, however ONE has decided
to remain vigilant. We revised ournavigation policy for the Indian ocean,which mentions preventive measures
such as maintaining a certain distanceto prevent boarding by perpetrators.
Safety around lithium-ion batteries
has been growing in prominence dueto the possibility of it causing fires
whilst in transportation. Fortunately,
ONE has not experienced any
large-scale incidence, with only asingle small accident documented
recently. Nevertheless, we havetaken steps to mitigate the risks oftransporting lithium-ion battery items
which includes considering theirstowage position to reduce spreadof fire in the event of an actual
incident and suspending bookingsof lithium-ion batteries loaded
from high-risk areas. To reinforce
our preparedness and familiarise
participants with relevant proceduresand protocols surrounding lithium-ion
battery fires, our annual large-scale
accident drill, carried out in February
2023, simulated a large-scale fire
accident stemming from lithium-ion
batteries. ONE also participatedin a collaborative technology
acceleration initiative, alongside six
industry partners, to examine thepotential of using new technologies
to prevent accidents and improve

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safety, including early detection, early
extinguishing, and prevention of the
spread of such fires. These drills andexercises increase confidence in ourability to swiftly respond to crises
wherever and whenever they occur.
We also conduct an annual largescale accident drill to maintain levelof our preparedness in the event ofan accident. In December 2021, ONE
conducted a joint crisis management
drill with Seaspan Corporation. The
drill involved 80 participants andsimulated a collision accident withan ONE chartered vessel, allowing
employees to familiarise themselveswith relevant procedures andprotocols.

Anti-Piracy

Piracy remains a looming threat
across the maritime industry. We
take a proactive approach towards
maritime security, deploying various
strategies based on a region’scontext and security risks. Off thecoast of Somalia and in the Gulf ofAden, we cooperate with Japan’s
Maritime Self-Defence Force and thenavies of various countries to ensure
the safety of our employees and the
security of our cargo.
In the Gulf of Guinea and Southeast
Asia, we deploy various self-defence
measures to protect ourselves.

These include the installation ofrazor wire to prevent unauthorised
embarkations, the provision ofbullet-proof vests and helmets forour employees, and the use of ahigh-pressure water nozzle to deter
piracy. We also maintain high speeds
and review our navigation policies
to account for recent security trends,
avoiding high-risk areas to safeguard
our operations against maritime
threats. Following the occurrence ofa security incident, we will investigate
the matter to determine areas for
improvement and capture lessons
learnt, as well as work hand in handwith ship owners and local authorities
to prevent recurrences.

We contribute to the growing
conversation on maritime securityby participating in multiple industry
dialogues such as those hosted
by the World Shipping Council.
These dialogues allow us to foster
inter-industry relationships andcollaboratively address the ongoingissue of piracy and maritime security.
Additionally, we are currently
collaborating with the West African
coastal authorities as part of aworking group to develop a Standard
Operating Procedure to pre-empt
security incidents in the Gulf of Guinea.
There were no incidents of piracy
onboard ONE vessels in 2022.
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SocialPeople are the reason for
ONE’s ability to remain resilient,
overcome challenges and growas an organisation. We recognise
the innovation and unique skillsof all our employees and havedeveloped the ONE academy
to continuously invest in ourpeople’s development.
Yasuki Iwai, Managing Director
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The role of businesses in our society continues to
evolve. Particularly, businesses play a crucial role incontributing towards a healthy and thriving society. ONE
is a strong advocate of this view and remains committed
to bringing positive impacts to our employees and thesocieties where we operate. We continually support andtake care of both our people and the communities.

TALENT MANAGEMENT

A company’s success can often be distilled down to
its employees and with this knowledge, we continue
to invest in exploring ways of attracting, retaining anddeveloping a diverse pool of talent. Diversity not only
creates a vibrant work environment, it also enables us
to tap on a wide range of talents.
As of 31 December 2022, ONE has a global workforceof 8,821 employees across 46 entities, spanning 54
countries. Our personnel comprise direct employees
and a small pool of contract staff who provide services
such as administration, clerical work, vessel husbandry
and handling, cleaning, security and project-based
work. Our turnover rate for the year was 7.75%

Attracting and Retaining Talent

The challenging labour market continues to posechallenges to ONE. Coupled with the increasing
demand for maritime freight transport, the competition
for attracting and retaining talent remains high. To
maintain a sustainable talent pipeline, it is importantto retain and attract new talent. Retaining employees
preserves experience within the company, andexperienced staff can mentor and guide new
employees. Attracting new talent can bring in new
perspectives, ideas and skills that drive innovation andgrowth. Both of which will enable ONE to maintain acompetitive edge.

ENVIRONMENTOPERATIONAL
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GOVERNANCEAt ONE, we foster a Continuous Performance Oriented
Culture, providing several avenues for employees toboth share their knowledge and build their skill sets.
Employees are encouraged to share their knowledge with
their peers and for leaders to share their experiences.
These knowledge shares give recognition, create anenvironment conducive for learning and encourage
relationships amongst peers and leaders. Training is
also provided on a variety of topics, from how to use
tools or software such as excel, to technical topics
such as compliance and data analysis to soft skills suchas management and leadership. Other than training,
employees are also given access to learning platforms
such as THRIVE, and LinkedIn Learning to support theirself-development.
To recruit new talent, ONE taps on a few pools suchas scholarships, internships and advertising of job
vacancies. Scholarships and internships are offered to
students who aspire to have a career in the maritime
industry. ONE has been a sponsor for the MaritimeONE
Scholarship which was set up to nurture young talents
for Singapore’s maritime sector. We will continue thissponsorship for more eligible students. Our internshipprogrammes give students first hand exposure to working
in the shipping industry by providing on-the-job trainingthat is supported by mentoring from senior colleagues.
Successful completion of the internship programme offers
opportunities for permanent employment with ONE.
Job vacancies are advertised on our corporate website,
recruitment websites and through engagements with job
recruiters and agencies.
ONE provides full-time employees benefits that are bothcomprehensive and competitive. Some of these benefits
include group medical/healthcare insurance, disability andinvalidity coverage, parental leave, retirement provision

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and stock ownership. The remuneration process iscommunicated to employees upon joining the company.
On the other end of the employment spectrum, we
provide outplacement services to assist individuals inmaintaining their employability and managing careertransition whether it be due to retirement or termination.
Our outplacement service is voluntary and accessible foras long as necessary.

Learning and Development

Learning and development (L&D) is an important
contributing factor toward the retention and attractionof talent. An organisation with a strong investment in
L&D signals that supporting the professional growth anddevelopment of employees is a focal point. Investing inpersonal and professional growth, leads to employeesthat are more engaged and committed. This canbe valuable in attracting potential employees in thiscompetitive job market.
L&D programmes are available to employees andencompass providing new skills, knowledge andexperiences which would be useful to advance in theircareers, which in turn can promote job satisfaction.
At ONE we encourage continuous learning for all our
employees. Employees at ONE can access a wider
range of topics to upskill. These topics range fromleadership, management and coaching to skills to assistin daily tasks (e.g. effective communication, software
skill such as excel). To further develop our employees
capabilities, we continuously invest in providing the best
resources possible for our people. In October 2022, welaunched LinkedIn Learning, making it accessible to all
our employees. LinkedIn Learning is an online training
platform with a digital library of over 6,000 courses.
Through these courses, we hope to identify and provide
e-learning opportunities for our employees as part of ONE
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Academy’s overarching L&D approachto encourage self-directed learning. We
have provided an average of 10 hours of
training on average per employee in 2023,
exceeding the 8 hours in 2022.
All employees regularly undergo an annual
performance review. Performance reviews
provide a channel for employees to discuss
key issues such as career aspirations, job
satisfaction, developmental needs. For
management, these performance reviews
are an avenue to give recognition, identify
areas for improvement, help to earmark
talent for development and, where needed,
recommend training to close skills gaps
or identify other actions that can be taken
to support them. Together, the outcome ofthese reviews helps both employees andmanagers perform at their best.
Leadership succession is important for the
long-term success and sustainability ofthe business, thus it is important to build apipeline of talented and capable people
who can step into key roles. As part ofleadership development, we developed
a nine-month, mini-MBA programme withleading US-based university, Rutgers
Business School and our pioneer batchof senior management have successfullycompleted the programme which will
be continued for subsequent batches.
Furthermore, with our global operations,
we have implemented a virtual leadershipprogramme to support managers inmanaging remote teams.

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Building the ONE family with ONE Academy
The ONE Academy was launched in August 2022 as a group-wide talent management and people development initiative.
It consists of four pillars of activities designed to engage and empower our employees, as well as strengthen connections
and cultivate a sense of belonging. It also enhances the training framework for leadership, soft skills, functional
competencies and talent development.

ONE
AcademyONE Communications• ONE Talks• Division Exhibitions• ONE Platform• Mini Town halls

ONE Learning &Development• Managerial/Leadershiptraining (ONE Lead/ONE
Ignite, etc)
• Mentoring Programme• Functional Training

ONE Connect• Chats with ONE
leaders• ONE People
bonding activities

ONE Career
Development & Mobility• Overseas assignments• Internal transfer• ONE Immersion
Programme

ONE Communications and ONE Connect pillars aim to help employees globally to learn more about one another andconnect socially through a series of engagement activities. These include ONE Talks, Division Exhibitions and Mini
Town Halls for employees to understand what different functions and divisions do and interact with one another.

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Informal chats with ONE’s senior management
are also organised with the objective to enhanceconnectedness with leadership. Under ONE
Connect, we also launched the ONE People
initiative. The ONE people initiative is an interactive
engagement session where we provide junior
to mid-level employees a platform to share theirexperience in ONE, including their successes,
experiences, and inter-department collaborations.
We also introduced casual games and elements
including activities such as games and piloxing
during the session. Through this avenue we hope

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employees can share and encourage one another toenact ONE’s core values in their everyday work.

way for skills and knowledge transfer, as well as
talent development.

ONE Learning and Development pillar aims tohelp employees in their professional development
and stay relevant through upskilling. It includes
education and training programmes catered for thebroader workforce as well as based on identifiedcompetencies for different functions and employee
levels. This helps employees to develop the skills
needed to excel in their roles and equip themselveswith knowledge in emerging areas, such astechnology and sustainability. Following the successof our mini-MBA programme with Rutgers Business
School, we have further developed a similar
leadership programme ONE Lead and ONE Ignite fordifferent levels of management under this pillar.

ONE Immersion Programme, which is an expansion of
the original global exchange programme, falls under
the last pillar, to encourage cross-regional exchange
and interaction while grooming high-potential managers
for overseas assignments. The one-week programme
saw its first batch of participants gather at the ONE HQ
in March 2023, comprising 21 managers from acrosscountries.

A mentoring programme also commenced in
Jan 2023 as a way for leaders in ONE to share
their experience and knowledge with younger
colleagues and vice-versa. This not only builds
connections across the company, but is also a

We had the honour of hosting Singapore Deputy Prime
Minister Heng Swee Keat at our ONE HQ in September
2022 to introduce him to the ONE Academy, given
the importance of talent attraction and retention in the
shipping industry amidst a global labour crunch.

41

To promote career mobility, ONE also has an internaltransfer policy to provide employees with careeradvancement opportunities. In 2022, 37 employees
have been rotated into new departments to support
their growth.

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Our bi-annual employee engagement survey allows
us to receive feedback on our employees’ work
satisfaction. The responses we receive allow us to
identify areas of improvement and develop follow-up
actions. Our last engagement survey was conducted
in 2021 by an independent third party and achieved a
global participation rate of 94% and a high engagementscore of 82%. We aim to achieve a more than 90%
participation rate for our next survey in 2023 andmaintain a 75% engagement score or higher.

Diversity and Inclusion

Diversity and inclusion are essential ingredientsto creating an environment where everyone feels
valued, respected and empowered to contribute theirperspectives and ideas. At ONE, a diverse and inclusive
workplace is seen as an asset and we are committed tofostering this.
In keeping with our beliefs, all employees and directors
are expected to adhere to our Code of Conduct
with zero tolerance for any form of discrimination orharassment. Besides our ONE Code of Conduct, otherareas that spell out our commitment to treating one
another with respect and dignity, regardless of age,
race, creed, religion, nationality, gender identity or ability
include our Corporate Values. Our “As ONE we CAN”
slogan instils the importance of employees regardlessof their backgrounds. To ensure that our expectations
have been communicated, employees are all required
to attend mandatory compliance training and an
e-learning course on tackling workplace harassment anddiscrimination. Read more about our compliance training
on Page 51-54.
We are headquartered in Singapore and our
employment practices comply with the Tripartite

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Alliance for Fair and Progressive Employment Practices(TAFEP). This means that our recruitment process andthe management of employees is grounded in merit(e.g. qualifications, skills, experience etc.), regardlessof age, race, gender, religion, marital status, family
responsibilities, or disability. Should employees
experience or observe any form of discrimination,harassment, or other issues, they can accessONE’s whistleblowing hotline to make a report. The
whistleblowing hotline at ONE is open 24/7, 365 days ayear, in all languages. Incidences that are reported arehandled by the Human Resources Department who arealso responsible for managing the antidiscriminationand harassment policies and procedures of ourcompany. In 2022, we had one incidence of grievances/discrimination/harassment reported. An investigation
was swiftly conducted through the local ONE business
unit. As the incident was found to have occurred,
the employee was promptly dismissed to address
the grievance and the matter was closed with nofurther issues.
As a traditionally male-dominated industry, ONE
continually seeks to raise the profile of women andseeks to promote gender diversity.
At the GHQ level, we continue to review and revise
our DE&I strategy. The newly launched ONE Academy
aims to not only push forward talent management
initiatives but enhance the comprehensiveness of our
DE&I approach. Under ONE Academy’s four Pillars, DE&I
matters are considered and initiatives are launched aspart of ONE strategy 2030. We have also set an internalbenchmark to have at least 30% female representationin all shortlisted job applicants presented to hiring
managers and at least 10% female representation on theinterview panel for all interviews conducted.

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Cognisant of the importance of diversity and inclusion(D&I) to an organisation, ONE will be incorporating
D&I into the comprehensive HR strategy. Once thisincorporation has been completed, next steps will be todevelop our overall strategy and new approach.
In conjunction with International Women's Day, GHQ
ONE organised a podcast which invites senior female
ONE staff to share their stories on the challenges thatwomen face. As a part of our #breakthebias campaign,
our Deputy Country Head of ONE Ghana was selected
to represent ONE senior woman leader from the EUA
region to discuss what it is like working in ONE andthe challenges she faces and the mentorship she hasreceived as a woman in ONE management and partof the shipping industry. We hope that these activities
will continue to inspire women in the company. ONE
Academy was launched to promote Connectedness andCommunications with staff.
At ONE, we are dedicated to enhancing our initiatives
towards gender diversity. The steady increase in female
representation in our workforce, since we started
monitoring in 2019, has been encouraging. We aim to
improve our support to both men and women in theircareer development and encourage their re-entry into
the workforce after parental leave. Presently, we havea more than 90% return rate after parental leave across
our offices, which is positive and something we willcontinue to support.

EMPLOYEE HEALTH, SAFETY AND
WELLBEING

The health and safety of our employees is of paramountimportance to us. We ensure that our Occupational
Health and Safety (OHS) management system comply
with the local legal requirements and labour regulations
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AND PROGRESSor guidelines of the respective countries in which
we operate. Besides this, we are also guided by our
Global HR policy and Code of Conduct which help us
in creating a safe and healthy working environment forour employees. Our OHS management system or safety
policies and procedures cover all workers, activities andworkplaces.
Each ONE entity has its own Human Resources (HR)Department and General Affairs (GA) Department thatoversees the management of their respective OHS
systems. It is not uncommon for some of the entities toappoint a designated safety officer. OHS risk assessments
are conducted regularly (monthly, quarterly, yearly or asneeded) by the responsible departments and/or safety
officers. Following this, the risk assessment committee,
comprising members from HR, GA, Legal departments
and the Board of Directors, reviews the assessments to
identify areas to enhance workplace health and safety.
In the event of any accident, injury, or work-related
hazard, it is mandatory for employees to report thisto their supervisor or direct manager. We have also
provided training to staff on how to respond to an injury or
emergency situation. The HR or GA Department will thenfollow-up with an investigation, make recommendations
for preventive measures and monitor their implementation
to mitigate any future occurrence and minimise risks
where possible. As a part of ONE’s OHS policy,
employees are also informed that they can stop work
should they feel or observe unsafe conditions, without
fear of reprisals. Employees can convey their feedbackon the health and safety management to their HR or GA
Department, either as a member of the local health andsafety committee or during safety training and workshops.
In our management of OHS, ONE aims to mitigate
the potential occupational health risks that our

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employees may encounter at work. We provide ourstaff with relevant training which includes possible risk
identification, workplace first aid, carrying out CPR,
learning how to use an AED and fire extinguisher,fire evacuation, safety and good hygiene practices
to prevent work related illnesses and injuries. As the
COVID-19 pandemic continued into 2022, many of ouroffices provided techniques on how to relieve mental

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stress as working from home arrangements continued.
Employees are also given access to health management
services. This includes access to company doctors,
hospitals and clinics, regular medical check-ups and24/7 teleconsultations.
As a benefit to our employees, group medical/
healthcare insurance, personal accident and group

Working safe and keeping well amidst the pandemic
ONE’s Crisis Management Committee (CMC) andtask force has been actively monitoring the COVID-19
situation since it’s onset in 2020. The team actively
monitored the number of suspected and confirmed
cases and ensured that safety measures compliedwith local pandemic safety policies and guidelines toensure business operations can continue.
As the effects of the COVID-19 pandemic waned, theCMC ended its role and was disbanded in August2022. Nevertheless, we continue to retain various
practices such as the hybrid work arrangement,along with flexible working hours to maintainflexibility as well as providing sanitizer and wet
tissues to promote good hygiene practices.
As the COVID-19 pandemic continues to evolve, wewill update our processes and procedures to reflect
the current situation and coincide with guidance
provided by relevant 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,balanced and stay connected during the pandemic,
we conducted virtual town halls, dinner and dance
and world cafe to connect with the other colleagues
across departments. We also conducted a seriesof monthly wellbeing seminars sharing tips on
fatigue, burnout, growth mindset, mindfulness andconnecting empathetically. To further enhance ourbenefits, we also launched an Employee Assistance
Programme (EAP) to give employees access to
24/7, confidential support including counselling,
information, guidance and referrals on any work,
personal or family issue. Employees are additionallyencouraged to make use of the Headspace mental
wellness app which includes meditation, shortvideos, sleep casts to support sleeping and focus.
As we noticed the diverse needs for self-care, wehave partnered up with Spotify which the platform
would support and enrich their lifestyle in the newworkstyle. Other programs to support physical,
emotional, financial and social well beings arecontinuously launched.

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
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term life insurance and opportunities for annual medical
check-up are provided. Aside from medical care, ONEprovides a variety of voluntary health promotions
services and employee assistance programmes (EAPs)
to encourage employee wellbeing and engagement.
These services and programmes include sport
activities, mental wellness seminars, stress andanxiety management programmes. smoking cessation
programmes, weight control programmes, how to havea healthy diet and tips and tricks for relaxation during
COVID and working from home.
Employees can stay updated on information regarding
health and safety services and initiatives through online
channels such as email, ONE’s internal online portal, theemployee handbook, town hall sessions and health andsafety workshops and training.
ONE has been monitoring the number of work-related
injuries and fatalities that occur. Since 2019, we havebeen able to maintain a clean record, with no fatalities
and no high-consequence work-related injuries
sustained. However, we have had an increase, from 1
to 5 recordable work-related injuries. These injuries
stemmed from minor injuries from commuting to andfrom work, musculoskeletal disorder and eye strain due
to sedentary work and long hours of screen time toslips and falls due to a wet floor in the office or slippery/
oily platform during vessel boarding. Fortunately, noneof these have led to a risk of high-consequence injury.
Nevertheless, we have taken preventative measures
such as providing reminders on safety precautions,carrying out a risk assessment to highlight possible
health and safety risks in the workplace, bringing inmedical personnel to conduct health management andconducting educational talks to help minimise risks at
work.

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ONE Safety Performance
2019

2020

2021

2022

Number of fatalities

0

0

0

0

Number of high-consequence work-related injury

0

0

0

0

Number of recordable work-related injury

9

5

1

5

Rate of recordable work-related injury (per 1
million hours worked)

NA

0.32

0.06

0.37

HUMAN RIGHTS AND LABOUR PRACTICES

Compliance with the UN Guiding Principles on Businessand Human Rights is a fundamental value that ONE
upholds. We have been an active member of the United
Nations Global Compact (UNGC) since 2018 and we area strong supporter of the universal principles regarding
human rights and labour standards. This commitment
is reflected in our Credo and Code of Conduct whichis embedded into our business practices, ensuringthat our operations or associations do not contributeto human rights violations. These are also included
in our Supply Chain Management Guidelines andcommunicated to all our business partners, including
suppliers which we expect them to adhere to whenproviding goods and services to ONE.
For our employees, we uphold the principle of equal
treatment, in compliance with relevant laws and labour
conventions such as the TAFEP guidelines in Singapore.
We affirm our commitment to respecting the rights ofour employees to engage in collective bargaining andto exercise freedom of association. Collective labour
agreements are tailored to each country centred on
local laws, regulations and best practices

Modern slavery is one of the critical human rights
concerns in the shipping industry. We published ourstatement in compliance with the UK Modern Slavery
Statement in 2020, which is available on our website.
This statement formalises our pledge to prevent modern
slavery and human trafficking within our business
operations and supply chains. Clauses related to thishave been included in our vendor agreements and ONE
will terminate operations with those that are unable
to comply. As part of our training on human rights
compliance, we have both e-learning and organise
training/events on Modern Slavery Act. This year 98.8%
of our employees attended training based on andaligned to the Training for Modern Slavery Act. ONE iscommitted to complying with the International Labour
Organisation (ILO) edicts on child labour and take afirm stance against child labour forming any part of thedelivery and maintenance of our global transportation
network. Our employees at ONE have also attended
e-learning and other trainings to ensure we contribute to
the effective abolition of child labour.
Despite not having direct oversight of the ship crew,
ONE supports the protection of seafarer rights and
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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
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acknowledges that we have a responsibility to provide
adequate care to the crew onboard the vessels that
we charter. We collaborate closely with vessel owners

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and ship management firms to ensure the safety andwell-being of seafarers, especially during the ongoing
COVID-19 pandemic. In spite of the global travel

PERFORMANCEDATAGRI CONTENTINDEXONE Portugal: The Excellence Index

To face the looming threat of risks posedby climate change, urgent actions are
required by all to limit global warming.
With shipping being a key componentof transporting the world's goods andaccounting for 3% of the world’s emissions,
it is imperative for the shipping industry to
shift towards a net zero approach driven
by low-carbon fuels.

The organisational climate
plays an important role in thedevelopment of human capital.
A positive work environment
can enable growth, learning andinnovation amongst employees.
ONE Portugal participated in The
Excellence Index, the largest study
on organisational climate and humancapital development. The study
is developed by a local humanresources consultancy in partnershipwith ISCTE, with the objective toreward organisations with the bestorganisational climate and which
stand out as organisations of
excellence in Portugal.

To address this, the ‘Maritime Just
Transition Task Force’ is an unprecedented
initiative, set up during COP 26 in Glasgow,
by the International Chamber of Shipping(ICS), the International Transport Workers’
Federation (ITF), the United Nations Global
Compact (UNGC), the International Labour
Organisation (ILO) and the International
Maritime Organisation (IMO), to ensurethat shipping’s response to the climate
emergency puts seafarers at the heartof the solution, supported by globally
established Just Transition principles.
It is the first global sectoral task force
dedicated to a ‘Just Transition’ and seeks
to strengthen and coordinate collaboration
between governments, industry, workers,

As a key player in the shipping industry,
ONE has joined the Global Industry Peer
Learning Group (GIPLG) as a sponsor of
the UNGC Just Transition Task Force.
The GIPLG is a group of representatives
from various organisations serving as aplatform for global partners to engage instrategic dialogue on tackling the issues
surrounding Maritime Just Transition
alongside the industry’s efforts todecarbonise. In 2023, the Task Force withthe support of the GIPLG moved into Phase
1 releasing a position paper Mapping theMaritime Industry for a Just Transition,
producing insights on the current stateof the industry and a forward looking
10-point-action plan for all stakeholders
including international organisations,industry players, workers and academia,
concretising recommendations to equip
seafarers with skills needed to support the
shipping’s decarbonisation goals.

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restrictions, we have made significant efforts to facilitatecrew change arrangements and minimise disruption toseafarer operations.

Collaboration with the UNGC Just Transition Task Forceacademia – and their representatives– towards a safe, equitable and humancentred approach to the transition towards
a decarbonised shipping industry.

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The study was done using four
instruments: satisfaction survey,
engagement, participation rate andsurvey on management practices.
Responses for the satisfaction
survey were evaluated according
to four dimensions of excellence(1) organisational dynamics, (2)practices, (3) climate and (4) people.

The management practices survey
responses were analysed basedon criteria such as the objectivity
and detail of responses; level ofdevelopment and implementationof policies and practices instituted;
support and provision of additional
examples, provision of additional
material and information. ONE scoredwell above the benchmark for all thefour instruments.
Joining this study also opened
discussions on several topics
from our internal communication
tools, promoting interpersonal
relationships inside and outside theworking environment, looking intomeasures to encourage work-lifebalance, investing in employees(talent retention and management) toinnovation initiatives. We are pleased
to report that ONE has won the award
for the logistics/transport sector,
demonstrating our efforts in creating
a great working environment for our
employees.

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSSUPPORTING LOCAL COMMUNITIESAs the world emerges from the COVID-19
pandemic, we were able to resume our inperson CSR activities. Across our operations,
we have been able to contribute back to society
through participation in events and donations.

ENVIRONMENT

More
than

Over

OPERATIONAL
EXCELLENCE

7,000
200

SOCIAL

employees
acrossCSR activities
held

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countries
Providingmore thanPERFORMANCEDATAGRI CONTENT
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2,800
$650,000
Contributing
nearly46

Volunteering
Hours

towards CSR
activities

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

Digital education forChildren, India

ONE India supported Papa
homes in their integrationof Digital education for theunderprivileged children

Caring for Children at Rowland Park home, India

MARCH

ONE Sponsors Crossroads Foundation's Charitable
Shipment from Hong Kong to Ivory CoastFEBRUARYJANUARY

Delivering care and support to the world
ONE India partnered with the Future Hope administration, an NGO providing opportunities tothe most vulnerable children from streets and slums of Kolkata, India through its homes, school,
sports and medical programme.
ONE India and Future Hope administration collaborated to organise a Sit & Draw competition forthe young children at the Rowland Park home. The competition comprised four different themes,
and each participant was provided with a painting toolkit for them to unleash their creativity. The
children were treated to refreshments, and each participant received a Participation Cup, which
generated a great deal of excitement and enthusiasm among the children.

APRIL
Restoring Mangrove Ecosystems in India

Funded by ONE India, the Conservation Action Trust team engaged in a meaningful
initiative aimed at enhancing the state of mangroves in the local community. They assessed
the condition of key mangrove areas that were identified. Informative brochures were
distributed to the locals to educate them on the importance of mangroves and mudflats andhighlighting issues such as oil spills and its potential mitigation measures.
The team successfully planted a total of 45,000 mangrove propagules, including 10,000
propagules of Rhizophora mucronata and 35,000 propagules of Ceriops tagal in the creeksof the selected area. This planting effort covered a total area of approximately 16 hectares,
demonstrating ONE India's commitment to environmental preservation and restoration.

JUNE
Collecting Plastic Caps to Fund Cancer Treatment for Youths in Mexico City
ONE Mexico has initiated a long-term campaign to gather plastic caps by placing a plastic
container in their office located in Mexico City. This initiative has been undertaken to
support the noble cause of Banco de tapitas A.C. a charitable organisation that generates
funds for the welfare of children and youth diagnosed with cancer by recycling plastic caps.
In June 2022, ONE Mexico successfully contributed a total of 36 kg of plastic caps, whichwere collected between March and June, to Banco de tapitas A.C. as a gesture of support
for their commendable cause.

ABOUTONE

APPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENTThe CSR committee at ONE’s Mexico City office has
implemented an ongoing campaign aimed at the proper
disposal and recycling of domestic used batteries.
A special container deposit has been placed within the office,where all staff members are encouraged to bring and leave
their used batteries. The committee has taken the responsibilityof sending these batteries to a specific facility for proper
recycling. In the period between May 2022 and July 2022, thecampaign was able to collect approximately 6 kg of batteries.
Going forward, this initiative will remain a permanent fixtureof the office, demonstrating our organisation's dedication to
responsible environmental stewardship.

AUGUST
Alleviating Water Access in Maharashtra, India
ONE partnered with the Triumph Foundation, aregistered Trust that has undertaken noteworthy
efforts towards constructing check dams in thevillages of Maharashtra. Through the constructionof Check dam, water conservation is supported
by improving the livelihoods of people living inrural areas. Through the creation of an accessible
water body, Check dam is able to provide a reliableconsistent source of clean water for the daily needs offarmers including supporting agriculture and farming.
This ensures a sustained economic stability andlivelihood for families within the area.

SEPTEMBERJULY

Recycling Batteries in Mexico City

OPERATIONAL
EXCELLENCESOCIAL

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Launch of Interactive Touch Point (iTP) Plastic Collection Centre in
Kotoso, Ghana

The iTP is part of NetCycle, a flagship project launched by Chaint Afrique Academy(a local NGO), which aims at enabling Africa’s transition towards a circular economy.
The iTP aims to promote awareness around recycling, waste management andshipping and it’s linked to the conceptualisation of the iTP. The iTP programme
rewards participants with a token sum of money for every kilogram of used fishnet
and plastic waste brought to the collection centre. This initiative not only promotes
sustainable management of plastic waste it also creates an alternative source of
livelihood through the revenue generated through the recycling of fishnets andplastic waste at the centre.

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Planting of Ghaf Trees in
Dubai, UAE

In the UAE, ONE staff initiateda tree planting activity to plant
Ghaf trees. Ghaf trees are thenational tree of the UAE andcan live up to 120 years and are
drought tolerant. As part of theactivity, an educational tour was
also provided for employees tolearn more about the plants andsurrounding environment.

NetCycle forecasts to collect approximately 1 ton of used fishing nets and 1.5 tonsof plastic bottles per week over the next 6 to 12 months.

OCTOBER
Repackaging food items for
distribution, providing food aid

In the US, ONE Boise resumed ourcontribution to the Idaho Foodbank,repackaging food items or distribution toneedy families. ONE Chicago supported
the Feed My Starving Children charity,
dedicated to development and relief
services, by repackaging more than
12,000 meals to feed 36 kids for a year.
A donation of $500 was also made to
Feed My Starving Children to cover the
shipping costs.

DECEMBER
ONE Malaysia Feed the Poor - A
night of giving backIn 2022, ONE Malaysia collaborated
with local NGO All Women
Empowerment to Accelerate (AWETA)
to give back to the community. 12
volunteers including ONE employees,
distributed boxed meals, water andsnacks to over 100 needy locals
and senior citizens in Selangor. The
team also distributed donated basic
necessities including clothes, towels
and blanks which were earlier collected.

Salvation Army's Christmas
Appeal - Food Donation Drive

In December, the ONE Australianbusiness units hosted a food
donation drive to be donated to theSalvation Army’s Christmas Appeal.
Staff contributed various fooditems to support struggling families
throughout the festive season.

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENT#ONEOcean Campaign in conjunction withWorld Clean Up Day
In commemoration of the 2022 World Clean Up Day on the
17th of September, ONE launched the #ONEOcean campaign.
This month-long endeavour witnessed participation from our
Global Headquarters, as well as our Regional Headquarters
and local offices worldwide. Friends, family, industry partners
and environmental organisations also joined in the #ONEOcean
initiative.
A total of 22 litter picking and beach clean-up events werecoordinated across 13 countries –– such as Singapore, Germany,
Taiwan and USA, involving over 400 employees. The collective
efforts of the team resulted in the successful collection of morethan 1000 kg of trash from beaches, forest trails, parks, and water
bodies.
Through this initiative, ONE hopes to achieve its goal ofpromoting environmental sustainability and creating a cleaner,
healthier planet. By mobilising its workforce across various
geographies, ONE aims to inspire positive change and encourage
individuals and organisations to adopt responsible attitudes
towards the protection of our natural resources.

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#ONEPinkRibbon Campaign
Breast cancer has emerged as one of the most prevalent cancer types worldwide, with
2.3 million women diagnosed in 2020 alone, surpassing lung cancer. According to theBreast Cancer Research Foundation (BCRF), every 14 seconds, a woman is diagnosed
with breast cancer somewhere in the world. Considering this trend, ONE launched the#ONEPinkRibbon Campaign, aimed at building global awareness for breast cancer. As
part of a year-long initiative spanning across 13 countries and in collaboration with 3of ONE’s valued customers, Evermark North America, Canadian Tire Corporation and
DHL Europe and Africa, ONE refurbished 100 of its iconic magenta shipping containers
to feature the pink ribbon symbol, encouraging regular health check-ups for early
detection of breast cancer.
As a part of this campaign, ONE will donate a sum of money based on the annual
mileage covered by these pink containers, which will be retrofitted with smart devices
to track their distance travelled worldwide. To spur on support for this campaign,a series of events such as talks, runs, walks and fundraising charity events wereorganised internally and externally through collaborating with various local charities
and non-governmental organisations.
A celebratory finale event in October 2022 marked the conclusion of the campaign,
following which the donations were made to the multiple breast cancer charities
worldwide, including the Breast Cancer Foundation in Singapore. Through thiscomprehensive initiative, ONE aspires to continue spreading awareness of this deadly
disease and expand support networks for cancer survivors.

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
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Sowing the Seeds of the Futurewith the ONE Global Community
Our forests are crucial to the health of our planet,
providing us with valuable ecosystem services suchas producing oxygen, being habitats for a diverse
array of wildlife, staving off erosion, regulating theclimate. For the second year, ONE offices acrossthe world came together as one to conserve their
numbers.
In August 2022, ONE Thailand, joined the tree
planting project alongside Bangkok Metropolitan &our partner AIS. When planted, these trees would
not only help create more green areas around
Bangkok but also play the role of natural dust walls
within the Bangkok area. This planting activity withAIS also helped to build stronger collaborations with
our external stakeholder.
The Rotary Forest, part of Rotary Club ofGandhidham, is developing a forest with a beautiful
lake for water conservation and a walking track
for the citizens of Gandhidham. ONE India in
Gandhidham and Mundra joined hands with theRotary Club of Gandhidham to carry out tree
planting at the Rotary Forest. A total of 200 trees
from different species were planted and in theprocess we learnt about types of trees/soil/irrigation
and also about the flora and fauna of the forest
area.
The ONE Richmond, US office sits adjacent to Larus
Park. The connecting pathway between these twoareas, lined with native wildflowers abuzz withbutterflies and bees, provided shade on the hot
afternoons during the Summer. ONE Richmondreached out to Friends of Larus Park to help withclearing out the main entrance to the park. The
clearing included the removal of invasives andsmall trees.
ONE India joined hands with Forest Regenerationand Environmental Sustainability Trust (FORREST)
who have been working extensively in the westernpart of Indian villages with the objective of restoring
forest, restoring bio-diversity , water conservation
through forest restoration and climate change

adaptation at grassroots. Forest restoration was
carried out with the Japanese Miyawaki forestry
technique. For restoration 310 saplings from63 species of native, ecologically suitable local
forest species were selected. All of the selected
trees have characteristics ranging from medicinal
value, producing fruits, flowers and other NTFPs(Non-Timber Forest Produce), some of which areimportant to support rich biodiversity.
Other offices that also carried out tree planting
activities include ONE Pakistan’s Lahore office, for a
new park in Lahore city which is under construction
and our ONE Myanmar office for Thida Lwin Farm.

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Governance

The pandemic was achallenging time, but it alsobrought to light the importantrole that the shipping businessplays in connecting the world
and providing essential
goods to people.
Yasuki Iwai, Managing Director
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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSETHICAL BUSINESS CONDUCT

Anti-Bribery, Anti-Corruption, Anti-Trust andCompetition

Committed to maintaining the highest standardsof ethical business conduct, ONE abstains from all
unlawful behaviour such as corruption, bribery andanti-competitive practices. Our dedication to goodfaith business activities, regulatory compliance and theaffirmation of human rights is enshrined in our Business
Credo and Code of Conduct, which all employees
are expected to uphold. The Code of Conduct
encompasses the following:• Improvement of service quality, pursuit of safety,
and preservation of the natural environment• Fair business activities• Prohibition of conflict of interest• Respect for human rights and diversity 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 proactively ensures compliance with all applicable
Anti-Bribery and Anti-Corruption laws, such as the U.S.
Foreign Corrupt Practices Act and the U.K. Bribery
Act through various measures. These include theestablishment of the ONE Basic Anti-Bribery Policy,
which explicitly prohibits employees from engaging
in any form of corruption, whether directly or throughthird parties. In 2022, we also implemented an AnnualCompliance Refresher Quiz which 100% of employees
completed. Copies of our Business Credo, Code of
Conduct and the ONE Basic Anti-Bribery Policy are
distributed to all employees via our internal online portal.
To ensure that employees are familiar with these policies,

ENVIRONMENTOPERATIONAL
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GOVERNANCE

all employees, including members of the Board, arerequired to complete a mandatory e-learning moduleand demonstrate their learning through an online
assessment. 100% of employees (excluding new joiners
who joined in late 2022) completed the e-Learning in
2022. This is a goal that we will strive to achieve yearly.
To further deter corrupt practices, ONE establishedthe Anti-Bribery Risk Assessment Guidelines to assess
and mitigate the risk of bribes being paid through third
parties, including suppliers and business partners. All
employees and management are required to apply
these guidelines and include a comprehensive process
to screen third parties. ONE has also promoted theincorporation of standard Anti-Bribery Clause into our
procurement contracts.
ONE has implemented various measures to reinforce
their commitment to ethical business practices, including
conducting sanction checks, anti-bribery assessments,
and declaring conflicts of interest for suppliers. In
addition, we have checks in place for the receiving offacilitation payment and gifts and entertainment within
GHQ departments as well as on regional and national
levels. To assess facilitation payments, ONE retrieves
data from accounting and cross-checks it against actual
invoices. Giving gifts and entertainment is handled by an
external vendor and we collect records and check forany abnormalities.

Compliance and Risk Management

ONE has a robust governance structure in place to ensure
regulatory compliance. Our Compliance programme isfacilitated 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

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implemented by the respective GHQ departments at thegroup, regional and local levels. GHQ departments aretasked with adapting these directives to suit the context of
their country of operation. GHQ Compliance Committee
meetings continue to be held twice a year to ensurecompliance and monitoring. In 2022, the meetings wereconducted online and hybrid format in April and Octoberrespectively.
We continued to conduct our compliance training
online and held a total of 153 Compliance group training
sessions globally. Our 30-minute teatime virtual learning
sessions focusing on hot Compliance topics such as“Competition Compliance” and “Sanctions” have achieved
commendable engagement rates thus far. 16 suchsessions were held for the M&C and P&N divisions with a
total of 233 attendees, while three sessions were held at
offshore centres with the participation of 124 employees.
Amidst movement restrictions, our internal social network
played a crucial role in enabling us to maintain highlevels of employee engagement. In 2022, 7,768 of ouremployees globally completed 22,128 Compliance
E-Learning courses on Key Compliance topics such as ourBusiness Credo, Code of Conduct, anti-corruption, antibribery, competition law, economic sanctions, conflicts ofinterest, anti-fraud and information security.
We also released four compliance posters as part of ourcompliance refresher initiatives. These posters, whichwere products of poster design competitions held for
employees, expanded on topics such as diversity andare displayed as visual reminders for employees.
In keeping with our annual tradition, the Board members
affirmed their commitment towards ethical businessconduct and compliance to all GHQ employees throughan annual video message. In response, all employees
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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
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submitted a declaration of adherence towards ONE’s
Credo, Code of Conduct and other applicable policies,
symbolising how ethical business conduct is a shared
responsibility among all members of the ONE community.
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) that is responsible for the formulationof control measures that can pre-empt and manage thebusiness impact of identified risks. The RMC comprises
company directors and reports directly to the Board.
Additionally, the RMC meets twice a year. The Business
Planning team also plays a supporting role as a secretariat
to the RMC.
In 2022, we updated our Risk Management Policy after
confirming our top four enterprise risks determinedwith the support of risk consultants from AON and PwC.
The RMC also discussed the relevance of these risks tovarious departments and how they are mitigated throughinsurance coverage. The updated Risk Management
Policy was approved by the Managing Director of C&I
after confirmation by CEO and all Managing Directors in
the RMC.
To standardise risk reporting practices across ouroperations, we developed a 4 x 4 risk heat map which
categorises our group-level risks by financial impact
and frequency. Risk severity is assessed by evaluating
the extent to which our countermeasures, which are
subdivided as “Prevention Plans”, “Minimisation Plans” and“Recovery Plans” can mitigate these risks. The heatmap
serves as a common language for assigning probabilities
and potential impacts, allowing us to come to a common
understanding of the risks facing our business.

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Our overall risk management process is evaluated by ourInternal Audit Team, providing independent assurance
and advice on our governance and control processes. In
addition to upholding effective risk management across
our operations, the Team also promotes risk and control
awareness among our employees.
Given the ever-changing nature of our operating
environment, the review we conducted has led to theenhancement of our risk reporting mechanism andupdated our risk management policy to improve our risk
monitoring framework. These initiatives enable ONE tostay on top of the evolving landscape and have adequate
risk management measures in place. The RMC refined its
vision to be “To be a sustainable, resilient, and trusted
partner for stakeholders by continuously conducting
risk assessment and reinforcing countermeasures.”
Climate change risks and opportunities will be handled
by our specialised team in the Corporate Strategy
and Sustainability department. In 2022, there were no
significant fines or non-monetary sanctions for noncompliance. A significant incidence is defined as one inwhich there is involvement in fraudulent activities.

Whistleblowing and Raising Concerns

We ensure employees have access to a Hotline System
as a safe avenue to report any improprieties, grievancesand non-compliances without fear of reprisal. Employees
are encouraged to raise their concerns on the following
issues:• Violation of any applicable laws and regulations,
violation of any legal or professional obligation;• Conduct that is inconsistent with any of ONE’sinternal policies and procedures;• Bribery, corruption, conflict of interest, anticompetitive practices, breach of sanction
regulations;

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• Financial fraud or mismanagement;• Discrimination or victimisation; harassment;
unethical behaviour;• Abuse or theft of ONE’s resources and assets;• Danger to health and safety, criminal activity,
damage to the environment; and/or• Deliberate concealment of any of the above.
Once a report has been filed, the senior management
will assess the issue to determine appropriate
follow-up actions. Depending on the severity of thecase, the senior management will either investigate
or escalate the issue to the Compliance Committee
for further review. Following the resolution of anissue, ONE will undertake preventive measuresand discipline offenders when deemed necessary.
In 2022, 8 whistleblowing reports were received
globally through the Hotline System. None of thereports were escalated to criminal cases.

Illicit Trade

As part of our commitment to uphold ethical businesspractices, ONE has a zero-tolerance policy towards
the trade of illicit goods and human trafficking. We
regularly screen cargo according to our Cargo
Acceptance Guidelines used by all ONE offices
globally to detect questionable goods in our due
diligence process. The Booking Acceptance Check
System (BACS) flags 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 reportis then generated to capture potential shipments
flagged based on the BACS to emphasise potential
suspicious trends. Immediate action is taken tocancel the shipment once prohibited items aredetected.
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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSAs a vessel operator/carrier, ONE takes the best
possible measures to prevent stowaways from boarding
our vessels. We work closely with ship masters andowners, and issue guidelines to avoid such incidents. To
further reinforce our efforts, we also engaged additional
personnel as a precaution against the increasing trendof stowaway incidents.
ONE actively participates in an industry-wide working
group hosted by the World Shipping Council to prevent
drug trafficking and illicit trade. To prevent stowaways,
we request coast guard patrols around anchorage
areas, particularly in the Philippines and Indonesia,
as well as other cautionary zones. Security policies
for West Africa, which include preparations for water
discharge at anchorage, have been revised, with MSQ
Policy (Navigation Instruction) and General Sailing
Instruction updated in September and October 2022,
respectively.
To maintain the highest level of security, we
continuously remind terminals of the importance of
implementing security measures and maintain close
communications with both the terminals and relevant
authorities. We also share key items in the briefing withthe vessel crew. As a vessel operator/carrier, we do nothave direct responsibility for stowaway incidents, which
are primarily the responsibility of the vessel owner.
Nonetheless, we take all necessary precautions toprevent such incidents from happening.

Responsible Tax Practices

By upholding the highest standards of transparency
and corporate governance, ONE establishes itself
as a compliant and responsible taxpayer. We do notcondone tax avoidance behaviours such as profit
shifting and constantly strive to update our compliance

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regime to keep in step with changing tax regulations
globally.
The guiding principles and protocols for our in-scope
tax processes are articulated in our Global Tax Policy(GTP), which is enforced and managed by the ONE
Tax Team in accordance with our Global Tax Mission
Strategies. To reflect the dynamic nature of tax laws
and regulations, the Global Tax Mission strategies andby extension, the ONE Tax Team’s mission statement, isupdated by the Head of the ONE Tax Team on an annual
basis or when deemed necessary. Full compliance with
the GTP is mandatory. Any deviations from the GTP
require pre-approval from the Head of ONE Tax Teamin writing. For ONE’s entities other than GHQ where it
has management control and the responsibility to file
tax returns, the same GTP shall be adopted as far aspractically possible and permitted by the relevant local
law and regulations. The ONE Tax Team will verify thatthe appropriate tax filings and tax obligations are met byengaging with local tax authorities on any information
request or changes in tax laws.
The ONE Tax Team is responsible for effectively
managing our tax processes throughout the tax
lifecycle, which includes tax legislation, planning,
compliance, reporting and auditing. When appropriate,
the ONE GHQ will identify and appoint a global
tax advisory service provider, following which it ismandatory for all entities to engage a tax complianceand advisory service provider. Beyond managing our
tax processes, the ONE Tax Team will also put in placeappropriate controls to reduce the risk of unintentional
compliance breaches. Employees and stakeholders
can conveniently access our whistleblowing Hotline
System to report any tax-related concerns or suspected
wrongdoings.

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SUPPLY CHAIN MANAGEMENTAt ONE, we seek to establish a sustainable supply
chain by forging close partnerships with suppliers whoshare in our sustainability vision and values. We select,evaluate and monitor potential and existing suppliers
based on criteria concerning environmental, social andgovernance (ESG) factors.
We established our Supply Chain Management
Guidelines to convey our expectations aroundresponsible business practices which include
commitments to:• Respect human rights, particularly aroundemployee health and safety and labour rights;• Comply with local and international codesof practice, covering the areas of corporate
governance including issues of anticompetition,
anti-bribery and prevention of money laundering;• Provide safe and trusted services, training
employees to undertake activities such as
operation of machinery safely and have establishedemergency response capabilities;• Improve environmental practices including the
reduction of resource and energy consumption; and• Manage and protect intellectual property andinformation responsibly.
Prior to entering a formal contract with ONE, theseguidelines are communicated to suppliers. Those
who ratify and acknowledge these guidelines canregister their company name on our website, allowing
us to recognise their efforts in aligning with our ESG
standards. In 2022, we started incorporating ESG
clauses into our contracts, such as those concerning
the Modern Slavery Act for vendor contracts originatingfrom the United Kingdom. We will progressively build in
more ESG clauses into our supplier contracts.
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Beyond supplier engagement, we ensure that ourmanagers are updated on our latest practices by
providing training on our Supplier Chain Management
Guidelines (SCMG). Managers are expected to share thetraining material with their respective teams to foster aculture of compliance across our operations.

and assessment of high-risk supplier categories forwhich a screening process will be implemented basedon our Supply Chain Management Guidelines. We aim
to complete implementation by 2023. Additionally, we
hope to implement downstream audit and monitoringfor container depots.

We have also established a complementary internal
Procurement Policy to train our employees onsustainable supply chain management, empowering
them make informed procurement decisions through:• Fair and unbiased evaluation;• Compliance with laws and social norms;• Respecting human rights;• Safety and environmental protection; and• Ensuring optimal quality and reasonable cost.

CYBERSECURITY AND DATA PROTECTION

As a global shipping company, ONE is entrusted with thedata of numerous customers and suppliers. Robust andcomprehensive cybersecurity policies and protocols are
therefore fundamental to ensuring the protection of ourbusiness systems and the data we handle, especiallywith increasing digitalisation of our operations.

A new digitalised process for sourcing new suppliers
based on our ESG criteria was developed, to ensure
more consistent and effective application of the
Procurement Policy guidelines. As of August 2022,
we have implemented this new process for newly
registered suppliers and of the 164 new suppliers, 37(23%) of them have agreed with our SCMG. While thismakes up a small percentage of our sizable supplierbase, this is an encouraging development and lays
the foundation for us to further drive sustainability in
our supply chain. The old process continues to run
for approximately 460 suppliers, an increase of 38
suppliers 2021, all of which have agreed to our SCMG.

We recognise the pertinence of cybersecurity andhave developed an Information Security Policy that isdesigned to govern technology use and protect our
digital and non-digital information assets. The policy
outlines responsibilities and procedures that employees
must follow to achieve maximum data confidentiality andsecurity, as well as a process for reporting information
security incidents. This includes the use of a standard
Non-Disclosure Agreement (NDA) format for the sharing,processing and retention of confidential information withexternal partners, and stakeholder consent is properly
obtained. Our Information Security Policy is further
strengthened by our IT Management Policy, which
oversees the handling of information technology assets
across their life cycle.

Moving forward, we will also be implementing a new
supply chain management system that streamlines the
management of supplier information globally. This will
enable us to have greater visibility over our supply chain
and enhance management and oversight. In tandemwith this development, we will conduct an identification

ONE also has a comprehensive personal data policythat covers both employee and customer information.
For employees, the Code of Conduct outlines
compliance with laws and regulations and information
management. Each regional and local office takes
actions such as creating policies, providing training

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courses, and implementing procedures for proper data
handling. The Global Headquarters has implemented amandatory e-learning course and the "ONE's Singapore
Personal Data Protection Compliance Policy." Forcustomers, ONE has a Privacy Policy on their websitethat details the collection, use, disclosure, internationaltransfers, security, retention, and legal rights ofcustomer data.
Besides policies and protocols, we have establisheda dedicated Global IT Security Team to implement
policies, deploy security software and processes,monitor alerts and remediate potential incidents. Our
Team is also well-equipped to predict and identify
emerging cybersecurity risks, accomplishing this byundertaking risk assessments for our information
security assets and implementing countermeasures forthe identified gaps. The Global IT Security Team further
fortifies our cybersecurity defences by organising
workshops and training to raise the standards of digitalhygiene and literacy in our organisation. All employees
also undergo mandatory compliance training on IT
and Information Security, as well as the Personal Data
Protection Act (PDPA) of Singapore for GHQ andSingapore office employees.
Additionally, we engage external and internal auditors
annually to ascertain that our implementations arealigned with best practices. Our audit observations arealso tracked under the same process so that they are
remediated in a timely manner.
As a result of these efforts to strengthen our
cybersecurity and data protection measures, there were
no breaches of customer privacy or information security
reported in 2022. This is a goal we aim to achieve in
2023 as well.
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Performance
Data

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MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENTAL PERFORMANCEThe operational control approach is used for the
consolidation of data based on the GHG protocol. Ourinventory covers emissions from our liner network
services. It does not cover emissions from our inland
services nor terminal operations. Under the Operational
control approach, 151 local offices and locations were
accounted for 2022 emissions. This has decreased from
160 offices in 2021 due to the revision of our operational
control and improvement in data capability this year,
which resulted in 12 offices being excluded and 3 ONE
Tech Stop (OTS) offices newly accounted for in 2022.
Emissions have also been corrected to CO₂ only insteadof CO₂e.

SCOPE 1 AND 2 EMISSIONSOur Scope 1 emissions result from the combustion of FuelOil and Gas Oil in our vessels. Our Fuel Oil consumption
includes Heavy Fuel Oil and Very-Low Sulphur Fuel Oil.
Conversion factors for fuel quantity to TJ are sourced
from CDP Technical Note: Conversion of fuel data to
MWh, CDP Climate Change Questionnaire 2022.
Fuel consumption is recorded and inputted into ourinternal system by vessel captains. Emission factors
were referenced from the Clean Cargo and only CO₂ is
included. Based on Clean Cargo, “Given that all relevantenergy consumption from ocean container transportation
stems from fuel combustion on vessel engines, CO₂
emissions is an appropriate approximation of total GHG
emissions”. ONE launched its third biofuel trial on board
M/V NYK Fuji. The specifications on the third biofuel trial
differed from the second biofuel trial. This trial consumed

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1,300MT4 of biofuel blend with a biofuel FAME content
of 8.21% (%V/V) which translates to 273.61 MT biogenic
CO₂ emissions and is reported separately from scope 1
emissions. The remaining volume is composed of VLSFO.
Emissions from the FAME component are calculatedusing Biodiesel ME (from used cooking oil) emission
factors sourced from DEFRA and reported as biogenic
emissions separate from Scope 1 emissions. Emissions
from the VLSFO component are calculated using VLSFO
emission factors sourced from IMO.
Our Scope 2 emissions come from the consumption ofpurchased energy in our offices and cold ironing, wherea vessel shuts down its generator engines when berthedand is connected to an onshore power supply. We havebeen 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
headquarters (RHQs) situated in Hong Kong, Singapore,
United Kingdom (UK), the United States of America (USA)and Brazil, and local offices situated in the Americas,
Asia, Europe, Africa, Oceania and the Middle East thatare under ONE’s operational control. Scope 2 emissions

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also include purchased electricity from cold ironing thatare only relevant in North America presently.
Energy consumption is gathered from utility invoices andverified internally by RHQ and GHQ representatives.
Where energy consumption is unavailable, consumption
is extrapolated from a geographically similar officelocation. Scope 2 location-based emissions arising fromelectricity consumption are based on Electricity Grid
Emissions Factors provided by, in order of priority, eGRID(for North America only)/DEFRA (for United Kingdom
only) or national authorities and the International Energy
Agency (IEA). Where available, Scope 2 market-based
emissions are based on Electricity Grid Emissions Factors
provided by Energy Attribute Certificates, Power Purchase
Agreements, suppliers, and Residual Mix (for EU only).
Otherwise, emissions are based on Electricity Grid
Emissions Factors provided by national authorities or IEA.
Scope 2 emissions from heating and steam are similarly
sourced from DEFRA (2022). On the other hand, Scope 2
emissions from cooling is estimated using a conservative
estimate for the coefficient of performance (COP) of aircooled and water-cooled chillers³.

Scope 1 emission intensity (grams of CO₂ per TEU-km, gCO₂/TEU-km)
2019

2020

2021

2022

46.79

43.67

44.81

41.50*

Emission intensities from 2019-2020 were calculated based on voyage completion basis in line with the Clean Cargo Methodology while emission
intensity from 2021 onwards have been calculated based on voyage leg completion basis. Both methods are calculated based on the calendar year.
ONE’s emission intensity based on the Clean Cargo’s methodology is 45.18 gCO₂/TEU-km in 2021 and 41.64 gCO₂/TEU-km in 2022.

Based on the study Review of Standards for Energy Performance of Chiller Systems Serving Commercial Buildings by Yu et. al (2014) which analysed the COP ofchillers 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.

3

4

Biofuel consumption is being rounded off to the nearest hundred.

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Scope 1 emissions from fuel consumption (tonnes of CO₂, tCO₂)
Fuel type

2019

2020

2021

2022

Fuel oil

12,163,491

10,638,466

9,946,604

8,614,645*

Gas Oil

1,284,634

949,117

981,151

774,152*

Total

13,448,125

11,587,582

10,927,754

9,388,797*

Scope 1 emission factors are referenced from the Clean Cargo and only CO₂ is included. Based on Clean Cargo, “Given that all relevant energy
consumption from ocean container transportation stems from fuel combustion on vessel engines, CO₂ emissions is an appropriate approximationof total GHG emissions.” The total number of operating vessels in 2022 is 230. Sum of figures in the table may not tally as the figures have beenrounded off to the nearest whole number.

Scope 2 emissions from electricity consumption (tonnes of CO₂, tCO₂)
Year

GHQ

Other Offices and OPS

Total

2019

158

No data

158

2020

140

No data

1402021 (market-based)

143**

10,284**

10,427**2021 (location-based)

143**

10,333**

10,476**2022 (market-based)

218*

10,381*

10,599*2022 (location-based)

218*

10,330*

10,549*As ONE only began collecting global data from 2021, our Scope 2 emissions from 2019-20 only comes from electricity consumption in GHQ. Scope
2 emissions from reefers in 2021 and 2022 were excluded due to a lack of accurate data during the reporting period. Moving forward, ONE aims toaccount for all Scope 2 emissions under our operational control.

*The sustainability information has been externally assured for 2022.
**The amounts have been restated due to improved data collection and refined methodologies in 2022.

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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 fuel data to MWh, CDP Climate Change Questionnaire 2022.

Total energy consumption (TJ)
Energy

2019

2020

2021

2022

Fuel consumption

174,945

149,158

140,813

120,985*

Fuel oil

157,715

136,428

127,653

110,602*

Gas oil

17,23012,73013,16010,383*

Electricity consumption

1

1

148

143*

Non-renewable energy

1

1

147

141*

Renewable energy

0

0

1

1*

Total

174,946

149,159

140,961

121,128*

Conversion factors for fuel oil and gas oil are 40.4 TJ/Gg and 43 TJ/Gg respectively. Sum of electricity consumption in (TJ) may not tally as the renewable and non-renewable values havebeen rounded off to the nearest whole number.

ENERGY

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).

Other air emissions (tonnes, t)
Year

SOx

NOx

2021

29,956257,1782022

26,017*

221,483**The sustainability information has been externally assured for 2022.
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SOCIAL PERFORMANCEThe scope for disclosure on training, diversity and inclusion, health and safety, and governance metrics covers our direct employees in GHQ and 45
local entities.

Employees

Our employee data are as of 31 December 2022.

Number of employees by employment contract
2019

2020

2021

2022

Permanent/ Full-timeContract /Part-time

Permanent/ Full-timeContract /Part-time

Permanent/ Full-timeContract /Part-time

Permanent/ Full-timeContract /Part-time

Male

3,552

29

3,684

33

3668

49

4,232

22

Female

3,740

172

3,880

139

3941

141

4,407

155

-

-

-

-

-

5

0

Non-binary

Recruitment in 2022
Age group

FemaleFemale (%)

Male

Male (%)

Under 30 yo

215

27.7

216

27.9

30 – 50 yo

133

17.2

173

22.3

Over 50 yo

22

2.8

16

2.1

New hire rate is calculated by total number of new hires in the reporting period over total number of employees as of 31 Dec 2022. Due to rounding, percentages do not add up to 100%.

Turnover in 2021
Age group

FemaleFemale (%)

Male

Male (%)

Under 30 yo

98.2

14.7

95.9

14.3

30 – 50 yo

174.4

26.0

174.3

26.0

Over 50 yo

50.2

7.7

77

11.5

Turnover rate is calculated by total number of voluntary resignation cases in the reporting period over total number of employees as of 31 Dec 2022. Due to rounding, percentages
do not add up to 100%.

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Number of training hours per employee
2019

2020

2021

2022

Non-executive and junior management

12.1

12.1

11.3

12.0

Middle and senior management

19.0

11.1

11.2

16.7

Board

10.7

6.3

11.1

8.3

Employees per employee category by gender (percentage)
2019

2020

2021

2022

Male

FemaleMale

FemaleMale

FemaleMale

FemaleNon-executive and junior management

53.3

46.7

55.9

44.1

52.0

48.0

46.5

53.5

Middle and senior management

71.8

28.2

71.8

28.2

69.6

30.4

63.9

35.3

Board

93.3

6.7

93.9

6.1

92.3

7.7

81.0

19.0

Employees per employee category by gender (percentage)
2019

2020

2021

2022

<30
years

30-50
years

>50
years

<30
years

30-50
years

>50
years

<30
years

30-50
years

>50
years

<30
years

30-50
years

>50
years

Non-executive and junior management

22.1

61.0

16.6

21.9

58.4

19.7

20.9

60.3

18.8

22.0

57.7

20.3

Middle and senior management

0.4

61.0

27.7

0.6

59.9

39.5

0.5

58.5

41.0

4.8

60.6

34.7

Board

0.0

27.7

72.3

0.0

32.0

68.0

1.9

28.1

70.0

0.0

18.2

81.8

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Number of training hours per employee
FemaleMale

Number of employees entitled to parental leave

2392

2378

Number of employees that took parental leave

238

119

Number of employees that returned to work after parental leave ended

218

119

Number of employees that returned to work after parental leave ended that were still
employed 12 months after their return to work

152

88

Return to work rate (%)

91.6

100

Retention rate (%)

70

74

HEALTH AND SAFETY
Number of training hours per employee
2019

2020

2021

2022

Number of fatalities

0

0

0

0

Number of high-consequence work-related injury

0

0

0

0

Number of recordable work-related injury

9

5

1

5

Rate of recordable work-related injury (per 1 million hours worked)

NA

0.32

0.06

0.37

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

This report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards. 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

GRI Disclosure
Number
GeneralDisclosures

OmissionGRI Disclosure Title

Location

Requirements
omittedReasonExplanation

General Disclosures
GRI 2: General The organisation and its reporting practices
Disclosures
2-1
Organisational details
2021

7

2-2

Entities included in the organisation’ssustainability reporting

2-3

Reporting period, frequency and contact
2
point

2-4

Restatements of information

57

2-5

External assurance

73

2, 7

Activities and workers
2-6

Activities, value chain and otherbusiness relationships

7

2-7

Employees

59

2-8

Workers who are not employees

59

Governance structure and composition

10

Governance
2-9

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OmissionGRI Disclosure Title

Location

2-10

Nomination and selection of the highest
governance body

10

2-11

Chair of the highest governance body15, 522-12

Role of the highest governance body inoverseeing the management of impacts

15

2-13

Delegation of responsibility for
managing impacts

15

2-14

Role of the highest governance body insustainability reporting

15

2-15

Conflicts of interest

10, 51, 52

2-16

Communication of critical concerns

10, 51, 52

2-17

Collective knowledge of the highest
governance body15, 522-18

Evaluation of the performance of thehighest governance body

10

2-19

Remuneration policies

Requirements
omittedReasonExplanationa, bConfidentiality
constraints

As a privately held company,
ONE does not disclose details
about remuneration policies.
As a privately held company,
ONE does not disclose details
about remuneration policies.
As a privately held company,
ONE does not disclose details
about remuneration policies.

2-20

Process to determine remunerationa, bConfidentiality
constraints

2-21

Annual total compensation ratio

a, b, cConfidentiality
constraints

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OmissionGRI Disclosure Title

Location

Requirements
omittedReasonExplanation

Strategy, policies and practices
2-22Statement on sustainable development
strategy

4-5

2-23

Policy commitments

14, 44, 51

2-24

Embedding policy commitments

14-15

2-25

Processes to remediate negative
impacts

2, 9, 42, 44, 51,
52, 53, 54

2-26

Mechanisms for seeking advice andraising concerns

52

2-27

Compliance with laws and regulations

52

2-28

Membership associations

11

e

Information
unavailable

ONE currently does nottrack the effectiveness but
maintains open channels toreceive and consider feedback
to improve the processa, bConfidentiality
constraints

As a privately held company,
ONE does not disclose details
about remuneration policies.

Stakeholder engagement
2-29

Approach to stakeholder engagement

72-73

2-30

Collective bargaining agreements

3-1

Process to determine material topics

15-16

3-2

List of material topics

16

Material Topics
GRI 3: Material
Topics 2021

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023

CEO
MESSAGEABOUTONEGRI Standard

APPROACH TOSUSTAINABILITYGRI Disclosure
Number
GeneralDisclosures

SUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

GOVERNANCEPERFORMANCEDATAGRI CONTENT
INDEX

UNGC
COP

ANNEX

65

OmissionGRI Disclosure Title

Location

Requirements
omittedReasonExplanation

Topic Specific Disclosures
Environmental Management
Climate Change (including GHG and other emissions)
GRI 3: Material
Topics 2021

3-3Management of material topics

24-28

GRI 302:
Energy 2016

302-1

Energy consumption within theorganisation

58

GRI 305:
Emissions
2016

305-1

Direct (Scope 1) GHG emissions

57

305-2

Energy indirect (Scope 2) GHG
emissions

57

305-4

GHG emissions intensity

25, 56

305-7

Nitrogen oxides (NOx), sulfur oxides
58(SOx), and other significant air emissions

3-3

Management of material topics

Air Pollution
GRI 3: Material
Topics 2021

30

Marine Pollution and Biodiversity Conservation
GRI 3: Material
Topics 2021

3-3Management of material topics

29-30

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023

CEO
MESSAGEABOUTONEGRI Standard

APPROACH TOSUSTAINABILITYGRI Disclosure
Number
GeneralDisclosures

SUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

GOVERNANCEPERFORMANCEDATAGRI CONTENT
INDEX

UNGC
COP

ANNEX

66

OmissionGRI Disclosure Title

Location

Requirements
omittedReasonExplanation

Waste Management
GRI 3: Material
Topics 2021

3-3Management of material topics

30

Management of material topics

35-37

Management of material topics

34

3-3

Management of material topics

32

3-3

Management of material topics

33-35

Operational Excellence
Safety and Security at Sea
GRI 3: Material
Topics 2021

3-3

Physical Operational Excellence
GRI 3: Material
Topics 2021

3-3

Digitalisation and Innovation
GRI 3: Material
Topics 2021
Customer Satisfaction
GRI 3: Material
Topics 2021
SocialEmployee Health, Safety and Wellbeing
GRI 3: Material
Topics 2021

3-3Management of material topics

42-44

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023

CEO
MESSAGEABOUTONEGRI Standard

GRI 401:
Energy 2016

GRI 403:
Occupational
Health and
Safety 2018

APPROACH TOSUSTAINABILITYGRI Disclosure
Number
GeneralDisclosures

SUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

GOVERNANCEPERFORMANCEDATAGRI CONTENT
INDEX

UNGC
COP

ANNEX

67

OmissionGRI Disclosure Title

Location

401-1

New employee hires and employee
turnover401-2

Benefits provided to full-time employeesthat are not provided to temporary or
43-44
part-time employees

401-3

Parental leave

61

403-1

Occupational health and safety
management system

42-43

403-2

Hazard identification, risk assessment,
and incident investigation

43

403-3

Occupational health services

43

403-4

Worker participation, consultation, andcommunication on occupational healthand safety

43

403-5

Worker training on occupational healthand safety

44

403-6

Promotion of worker health

44

403-7

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

43

403-9

Work-related injuries

61

Requirements
omittedReasonExplanation

59

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023

CEO
MESSAGEABOUTONEGRI Standard

APPROACH TOSUSTAINABILITYGRI Disclosure
Number
GeneralDisclosures

SUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

GOVERNANCEPERFORMANCEDATAGRI CONTENT
INDEX

UNGC
COP

ANNEX

68

OmissionGRI Disclosure Title

Location

Requirements
omittedReasonExplanation

Diversity, Equity and Inclusion
GRI 3: Material
Topics 2021

3-3Management of material topics

42

GRI 405:
Diversityand Equal
Opportunity
2016

405-1

Diversity of governance bodies andemployee

60

GRI 406: Nondiscrimination
2016

406-1

Incidents of discrimination andcorrective actions taken

42

Human Rights and Labour PracticeGRI 3: Material
Topics 2021

3-3Management of material topics

44-45

GRI 412:
Human Rights
Assessment
2016

412-2

Employee training on human rights
policies or procedures

44

3-3

Management of material topics

39-42

401-1

Average hours of training per year per
employee

60

401-2

Programs for upgrading employee skills
and transition assistance programs

39

Human Capital Management
GRI 3: Material
Topics 2021
GRI 404:
Training and
Education
2016

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023

CEO
MESSAGEABOUTONEGRI Standard

APPROACH TOSUSTAINABILITYGRI Disclosure
Number
GeneralDisclosures

SUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

GOVERNANCEPERFORMANCEDATAGRI CONTENT
INDEX

UNGC
COP

ANNEX

69

OmissionGRI Disclosure Title

Location

GRI 405:
Diversityand Equal
Opportunity
2016

405-1

Diversity of governance bodies andemployees

60

GRI 406: NonDiscrimination
2016

406-1

Incidents of discrimination andcorrective actions taken

42

Management of material topics

46

Requirements
omittedReasonExplanation

Supporting Local Communities
GRI 3: Material
Topics 2021

3-3

Governance
Sustainable Supply Chain Management
GRI 3: Material
Topics 2021

3-3Management of material topics

GRI 308:
Supplier
Environmental
Assessment
2016

308-1

New suppliers that were screened using
54
environmental criteria

GRI 414:
Supplier
Environmental
Assessment
2016

414-1

New suppliers that were screened using
54
social criteria

53-54

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023

CEO
MESSAGEABOUTONEGRI Standard

APPROACH TOSUSTAINABILITYGRI Disclosure
Number
GeneralDisclosures

SUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

GOVERNANCEPERFORMANCEDATAGRI CONTENT
INDEX

UNGC
COP

ANNEX

70

OmissionGRI Disclosure Title

Location

Requirements
omittedReasonExplanation

Ethical Business Conduct
GRI 3: Material
Topics 2021

3-3Management of material topics

51-53

GRI 205: AntiCorruption
2016

205-2

Communication and training about anticorruption policies and procedures

51

Cybersecurity and Data Protection
GRI 3: Material
Topics 2021
GRI 418:
CustomerPrivacy 2016

3-3

Management of material topics

54

418-1

Substantiated complaints concerning
breaches of customer privacy andlosses of customer data

54

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023

CEO
MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

GOVERNANCEPERFORMANCEDATAGRI CONTENT
INDEX

UNGC
COP

ANNEX

71

United Nations Global Compact COP
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 committed tosupport and align our practices with the ten UNCG Principles in the areas of human rights, labour, environment and anticorruption.
Please refer to the UNGC reference table below for coverage of 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.
Effective 2023, the UNGC launched the new Communication on Progress (CoP) platform, with a standardised questionnaire. ONE has submitted the CoP report and our responses
can be accessed from the UN Global Compact website.

Human Rights
Principle 1

Businesses should support and respect the protection of internationally proclaimed human rights; andPrinciple 2Make sure that they are not complicit in human rights abuses.

p. 44-45, 51

LabourPrinciple 3

Businesses should uphold the freedom of association and the effective recognition of the right to collective
bargaining;

Principle 4

The elimination of all forms of forced and compulsory labour;

Principle 5

The effective abolition of child labour; andPrinciple 6

The elimination of discrimination in respect of employment and occupation.

p. 42-45

Environment
Principle 7

Businesses should support a precautionary approach to environmental challenges;

Principle 8

Undertake initiatives to promote greater environmental responsibility; andPrinciple 9

Encourage the development and diffusion of environmentally friendly technologies.

p. 24-30

Anti-Corruption
Principle 10

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

p. 51-52
OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023

CEO
MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

GOVERNANCEPERFORMANCEDATAGRI CONTENT
INDEX

UNGC
COP

ANNEX

72

ANNEX
Stakeholder Engagement
An important tenet of our approach to sustainability is engaging our stakeholders and being accountable and responsive to their concerns. We value our stakeholders’ opinions andfeedback to ensure we are continuously improving our practices and performance.
In 2022, we conducted a stakeholder mapping exercise to identify and prioritise relevant stakeholder groups across our value chain, based on the impact our activities have on
them, their interest in ONE’s sustainability performance and direction, as well their influence on ONE. The key stakeholder groups are tabled below.
We engage stakeholders throughout the year, both formally and informally, through a variety of channels. Our engagements focus on building meaningful relationships andcommunication, better understanding their needs and expectations as well as seeking collaborative ways to work and achieve shared objectives.

Stakeholder Group

Topics and Concerns Raised

ONE’s Response

Customers

Cargo and data security•

Customer Satisfaction Survey (annually)

Carbon emissions•

One-on-one communication from sales team through emails,
meetings, etc. (regularly) Sustainability Report (annually)•

Materiality survey and interviews (every 2-3 years)•

ONE’s internal online portal and social network (ongoing)•

ONE Town Hall session (annually)•

Employee appraisals (annually)•

Training and development programs (ongoing)•

Strengthen dialogue and collaboration with government agencies in
the countries and regions where we operate•

Memberships in various organisations•

Contribute to discussions to improve issues within the industry

Traceability, track and trace, and just-in-time shipment
Employee

Equal opportunities Training and development

Government
and Regulatory
Authorities

Compliance with Laws and Regulations

Industry
Associations

Participation in its activities

Appropriate Tax Payment
Community Support

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023

CEO
MESSAGEABOUTONEAPPROACH TOSUSTAINABILITYSUMMARY OF TARGETS
AND PROGRESSENVIRONMENTOPERATIONAL
EXCELLENCESOCIAL

GOVERNANCEPERFORMANCEDATAGRI CONTENT
INDEX

UNGC
COP

ANNEX

Stakeholder Group

Topics and Concerns Raised

ONE’s Response

Local Community

Promote education•

Partnerships with non-profit organisations (ongoing)

Create environmental awareness•Community engagement and CSR programs (regularly)•

Sponsorship, membership to the organisations•

Disclosure through their supposed platform (CDP/EcoVadis/CoP of
UNGC)

•

Providing knowledge based on the shipping industry

73

Requests for free freight transportation and fundraising support
Non-Profit
Organisations

Participation in its activities

Financial Institutions Disclosure about business performance, strategy, operating landscape •and business outlook•

Continuous dialogues through email and meetings (as needed)

Shareholders•

Board Meetings (monthly)•

Quarterly Disclosures (quarterly)•

Sustainability Report (annually)•

Updates through email and meetings (as needed)•

Materiality survey and interviews (every 2-3 years)•

Corresponding email exchange with major suppliers (ongoing)•

Sustainability Report (annually)

Suppliers

Timely information on business performance, strategy, operatinglandscape and business outlook

Operational matters and business issues

Periodical disclosure

OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023

74

Ocean Network Express Pte. Ltd.
7 Straits View, #16-01 Marina One,
East Tower
Singapore 018936
Attention: The Board of Directors
22 June 2o23
Our ref: ASR 766529/ FEL/ IT (13)(When Replying Please Quote Our Reference)

Practitioner’s Independence and Quality Management
We have complied with the independence and other ethical requirements of the Accounting
and Corporate Regulatory Authority (ACRA) Code of Professional Conduct and Ethics for
Public Accountants and Accounting Entities (ACRA Code), which is founded on fundamental
principles of integrity, objectivity, professional competence and due care, confidentiality andprofessional behaviour.
Our firm applies Singapore Standard on Quality Management 1 which requires the firm todesign, implement and operate a system of quality management including policies orprocedures regarding compliance with ethical requirements, professional standards andapplicable legal and regulatory requirements.
Practitioner’s Responsibility

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”) to undertake alimited assurance engagement in respect of the selected sustainability information from the2023 Sustainability Report of the Company described below for the year ended 31 December
2022 (“the Identified Sustainability Information”).
Identified Sustainability Information
The respective Identified Sustainability Information for the year ended 31 December 2022 is
set out in Appendix 1 of this report.
Our assurance engagement was with respect to the year ended 31 December 2022. We havenot performed any procedures with respect to (i) earlier periods and (ii) any other elements
included in the Company’s 2023 Sustainability Report, and in the annual report, website andother 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 2021 (“the Reporting Criteria”).
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.

Our responsibility is to express a limited assurance conclusion on the Identified
Sustainability Information based on the procedures we have performed and the evidence wehave 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 ofgreenhouse 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 require that we plan and perform
our work to form the conclusion about whether the Identified Sustainability Information isfree 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 scopethan a reasonable 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.
The procedures selected included inquiries, observation of processes performed, inspectionof documents, analytical procedures, evaluating the appropriateness of quantification
methods and reporting policies, and agreeing or reconciling with underlying records. Given
the circumstances of the engagement, we also performed the following:●●interviewed 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;

PricewaterhouseCoopers LLP, 7 Straits View, Marina One East Tower Level 12 Singapore 018936
T: (65) 6236 3388, F: -, www.pwc.com/sg GST No.: M90362193L Reg. No.: T09LL0001D
PricewaterhouseCoopers LLP (Registration No. T09LL0001D) is an accounting limited liability partnership registered in Singapore under the Limited Liability Partnerships
Act 2005. PricewaterhouseCoopers LLP is part of the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate andindependent legal entity.

2

75

●

●

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 Selected Sustainability Information; and (ii) to check that data had been
appropriately measured, recorded, collated and reported, to the extent we considerednecessary and appropriate 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, and are less in extent than for, a reasonable assurance engagement. Consequently, thelevel of assurance obtained in a limited assurance engagement is substantially lower than theassurance that would have been obtained had a reasonable assurance engagement been
performed. Accordingly, we do not express a reasonable assurance opinion about whether theCompany’s Identified Sustainability Information has been prepared, in all material respects,
in accordance with the Reporting Criteria.
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
where appropriate. 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 of established practice on which to draw to evaluate and measure subject matter allows
for different, but acceptable, measurement techniques that can affect comparability between
entities.

Purpose and Restriction on Distribution and Use
This report, including our conclusion, has been prepared solely for the Company inaccordance with the letter of engagement between the Company and us. Save for thedisclosure of our report on the Company’s website, neither this report nor its contents or any
part thereof may be distributed to, discussed with or otherwise disclosed to any third party
without our prior written consent. The Company is responsible for all other information,other than our report, on the Company's website and our report does not cover this otherinformation, and we do not express any form of assurance conclusion thereon. To the fullest
extent permitted by law, we do not accept any liability or assume any responsibility to anyone
else other than the Company for our work or this report. Any reliance placed on this report byany third party is entirely at its own risk. The Company is responsible for its website and that
we do not accept responsibility for any changes that may have occurred to the Identified
Sustainability Information or Reporting Criteria since they were initially presented on thewebsite.

Yours faithfully

PricewaterhouseCoopers LLP
Public Accountants and Chartered Accountants
Singapore

The quantification of the greenhouse gas emissions data underlying the Identified
Sustainability Information is subject to inherent uncertainty because of incomplete scientificknowledge used to determine emissions factors and the values needed to combine emissionsof different gases, and the estimation uncertainty from the measurement and calculation
processes used to quantify emissions within the bounds of existing scientific knowledge. Thiscan affect the ability to draw meaningful comparison of the Company’s greenhouse gas
emissions over time.
Conclusion
Based on the procedures we have performed and the evidence we have obtained, nothing hascome to our attention that causes us to believe that the Identified Sustainability Information
for the year ended 31 December 2022 is not prepared, in all material respects, in accordancewith the Reporting Criteria.

3

4

76

Appendix 1
Identified Sustainability
Information

Environmental Performance
Indicators

EnergyGRI 302-1: Energy consumption
within the organisation

Energy consumption
Fuel consumption

Tj

120,985

Fuel oilTj

110,602

Gas oilTj

10,383

Biofuel consumption

MT

91.01

Energy consumption

Tj

143

Non-renewable energy

Tj

141

Renewable energy

Tj

1

Total Energy consumption

Tj

121,128

Fuel oiltCO2e8,614,645

Gas oiltCO2e774,152

Total Scope 1 GHG Emissions

tCO2e9,388,797

GRI 305-1: Direct (Scope 1) GHG
emissions

Unit

20221

Emissions

Biogenic emissions

tCO2e273.61

GRI 305-2: Energy indirect(Scope 2) GHG emissions

Market-based

tCO2e10,599Location-based

tCO2e10,549

GRI 305-4: GHG emissions intensity
GRI 305-7: Nitrogen oxides (NOX),
sulfur oxides (SOX), and othersignificant air emissions in kilograms
or multiples2

Scope 1 GHG Emissions Intensity

gCO2e/TEU-km

41.50

Nitrogen oxides (NOx)tonnes

221,483

Sulfur oxides (SOx)tonnes26,017

1
The figures have been rounded to the nearest whole number except for biofuel consumption, biogenic emissions and GHG emissions
intensity.
2
Other significant air emissions in kilograms or multiples are not in scope.

5

OCEAN NETWORK EXPRESS PTE. LTD.
7 Straits View #16-01 Marina One East Tower
Singapore 018936
E. sustainability@one-line.com
OCEAN NETWORK EXPRESS (ONE)SUSTAINABILITY REPORT 2023