The 2021 report is our fourth comprehensive and stand-alone sustainability report which provides an opportunity to reflect on our ESG journey so far and look ahead to the challenges we face in the short and long term. In the past, environmental issues have dominated ESG discussions in the shipping industry. However, the Covid-19 pandemic and ever-increasing regulatory environment have resulted in a more balanced sustainability landscape. Identifying and addressing ESG risks and opportunities are at the core of Frontline’s business strategy.
Our response to the acute challenges we have faced in recent years, most notably the Covid-19 pandemic and IMO regulations, is testimony to the resilience and agility of the sustainability framework we have implemented and our ability to not only overcome such challenges but thrive when doing so. Balancing the interests and expectations of all our stakeholders, including investors, analysts, employees, customers, suppliers, and communities is never easy but we believe our sustainability strategy is key to striking this balance and creating long-term value.
The disclosures in our ESG report aim to provide analysts and other stakeholders with material ESG information. Our report was prepared in accordance with the Sustainability Accounting Standards Board (SASB), and we have incorporated the disclosure requirements of the UN Global compact.