Sustainability

Respect and support all internationally-proclaimed human rights

Targets

• 100% of reported incidents related to labour or human rights are investigated and closed within 180 days
• ≥97% staff retention at sea
• ≥90% staff retention on shore

Results in 2021

• All targets achieved in 2021
• 100% of reported incidents were investigated and closed
• Sea staff retention of 97.0%
• Shore staff retention of 92.5%

Results in 2022

• 100% of reported incidents were investigated and closed within 180 days
• Sea staff retention of 97.4%
• Shore staff retention target not met. Retention dropped to 85%, due to employee resignations following organizational changes and a more competitive job market
• Pay equity efforts are ongoing. Annual compensation reviews include internal and external equity evaluations

Actions for 2023

• Ensure employee awareness of labour and human rights policies and programs
• Continue ongoing pay equity efforts through internal and external equity evaluations

Further increase gender and national diversity within Teekay

Targets

• Develop a diversity strategy and target in 2021 to further promote gender and national diversity within Teekay

Results in 2021

• Due to organizational changes, Teekay’s diversity strategy was not released in 2021 as planned
• Future Leaders Program (FLP) has resulted in eleven female graduates to date
• Teekay Tankers engaged two female interns and employed two female maritime studies graduates

Results in 2022

• Due to organizational changes, Teekay’s diversity strategy was not developed as planned in 2022. Instead, our goal in 2023 is to continue building awareness to ensure employees feel part of an organization that supports diversity.
• The Teekay Future Leaders (TFL) program has resulted in 11 female graduates to-date
• Teekay Tankers engaged one female and one male intern in 2022

Actions for 2023

• Build awareness to ensure employees feel part of an organization that welcomes differences, provides equal opportunities, and fosters a sense of belonging for everyone.
• Continue to support and sponsor female maritime university graduates and interns

Provide healthy working conditions that promote well-being for employees

Targets

• Health repatriation case frequency (HRCF) for sea-staff ≤1.8

Results in 2021

• Target achieved in 2021. Group-wide HRCF of 1.21
• Flexible workplace policies established and rolled out
• Human Capital Management (HCM) system rollout completed
• Mental health support and education provided to employees for identifying and addressing mental health risks and concerns

Results in 2022

• Target achieved in 2022. Group-wide HRCF of 1.05
• Launched Wellness Days for shore-based employees in select locations

Actions for 2023

• Continue to support, communicate, and educate on employee health and wellness support programs

Protect the security of our seafarers, ships, and digital assets

Targets

• Zero vessel security incidents
• Zero vessel security related non-conformances in external audits and zero security-related Port State Control (PSC) detentions
• Zero vessel cyber security incidents

Results in 2021

• All targets achieved in 2021
• There were no vessel security or vessel cybersecurity incidents in 2021

Results in 2022

• All targets achieved in 2022
• There were no vessel security or vessel cybersecurity incidents in 2022

Actions for 2023—Ship Security

• 24/7 monitoring of security risk situation and guidance to vessels and crew
• Continue our participation in Intertanko Security Committee

Actions for 2023—Cyber Security

• Further enhance our cybersecurity awareness program
• Roll out new solutions in our cyber security roadmap

Manage all our business activities with integrity and do what is right

Targets

• 100% of business ethics breaches are investigated and closed within 180 days
• ≥95% invited shore-based employees attend online delivery of ‘Doing Business with Integrity’ presentation
• ≥90% of survey respondents agreeing that management actively supports integrity objectives

Results in 2021

• All targets achieved in 2021

Results in 2022

• All targets achieved in 2022

Actions for 2023

• Ethics training for shore staff
• Continue to develop our partnership with the Marine Anti-Corruption Network to focus on managing port corruption risks

Zero spills and full compliance with regulations

Targets

• Zero spills greater than one barrel
• Zero ballast non-compliances
• Zero SOx and NOx non-compliances
• 50% reduction in single-use plastic water bottle consumption onboard and eliminated in Teekay offices by 2023

Results in 2021

• All annual targets achieved in 2021
• Onboard consumption of single-use plastic drinking bottles was reduced 55% in 2021, and usage in Teekay offices has been eliminated

Results in 2022

• All targets achieved
• Onboard consumption of single use plastic drinking bottles was reduced by 84% in 2022, and usage in Teekay offices has been eliminated

Actions for 2023

• Continue ballast water treatment system installation program

Increase transparency and elevate standards in the ship recycling industry

Targets

• Zero regulatory non-compliances
• At least one on-site inspection per month of any active ship recycling facilities

Results in 2021

• All targets achieved in 2021

Results in 2022

• All targets achieved in 2022

Actions for 2023

• Continue engagement with M.A.R.S facility for the green recycling of the Petrojarl Foinaven FPSO
• Continue our support and engagement on the Ship Recycling Transparency Initiative (SRTI) Steering Committee