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ESG

ESG Responsible Management Declaration

As a key hub in the global liquid cargo logistics industry, OSTT is committed to leaving a transparent management environment for future generations, fulfilling its social responsibilities, and establishing sound corporate governance. We hereby declare the following management policies.

OSTT
  • 01

    Environment

    All OSTT employees recognize the importance of environmental conservation and are committed to adhering to eco-friendly practices.

    1. Establishment of an environmental management organization and setting of environmental strategies
    2. Expansion of investments in eco-friendly sectors such as Net Zero
    3. Regular annual training for all employees
  • 02

    Social value

    We provide a high-quality working environment, ensure fair and transparent transactions with customers, and contribute to the development of the local community.

    1. Job security and capability development for employees
    2. Operation of fair competition and anti-corruption programs
    3. Implementation of customer satisfaction programs
  • 03

    Corporate Governance

    We guarantee the sound exercise of shareholder rights, independent and professional decision-making by the Board of Directors and audit bodies, and the fair distribution of management performance to shareholders, management, and employees.

    1. Protection of shareholder rights
    2. Independent and professional functions of the Board of Directors and external auditors
    3. Fair evaluation and distribution of management performance
  • 04

    Accountability

    We practice the implementation of the ESG Responsible Management Declaration and ensure the transparent disclosure of ESG management information.

    1. Full compliance with the ESG Responsible Management Declaration
    2. Reporting ESG management performance to shareholders

ESG Goals

OSTT will practice transparent and fair ESG management in line with the principles of its leadership,
and will spare no investment in sustainable management for future generations.

  • ENVIRONMENT
    1. 2024 NET ZERO Target Achievement
    2. Expansion of Investment in Eco-friendly Sectors
  • SOCIAL
    1. Customer Satisfaction Management
    2. Monitoring of Work Accidents and Reward System for Achieving Zero Accidents
  • GOVERNANCE
    1. Board of Directors and Auditors Composition
    2. Risk Management from the Perspective of Shareholders and Customers
    3. Strengthening Corporate Ethical Management Systems
    4. Expanding and Promoting D.E.I (Diversity, Equity, and Inclusion) Culture

ESG Issue Management

OSTT actively engages with various stakeholders through fair communication channels, fostering mutual respect and open dialogue.
All of our communication channels are operated anonymously, prioritizing lawful, safe, and transparent principles, and are based on continuous improvement through diverse communication platforms. Through this operational system, we will continue to proactively respond to ESG-related issues in the future.

  • Various Stakeholders
    1. Customers
    2. Employees
    3. Shareholders
    4. Contractors
    5. Local
      Residents
    6. Government
    7. Suppliers
    8. Special
      Interest Groups
    1. 01Dedicated ESG Department under the CEO
      → Immediate response to ESG incidents, analysis of causes and results
    2. 02Anonymous surveys conducted once a year across three departments: Purchasing, Sales, HR/Finance
      → Analysis of Results and Development of Improvement Plans
    3. 03Multiple reporting channels and follow-up management
      → Internet, Email, Phone, Mail, etc.
  • OSTT

Net Zero 2040

OSTT is starting its journey toward Net Zero to ensure a better environment for future generations. We are committed to achieving Net Zero by 2040 through proactive actions inside and outside our facilities.

  • Onsan Tank Terminal's Net Zero Ambition
  • Onsan Tank Terminal is actively planning and executing strategies to achieve Net Zero by 2040.
    1. 2030
      Interim Reduction Target
    2. Achieving
      Net Zeroby 2040
    3. Green energy
      tariffs purchase
    4. Renewable energy certification purchase
    5. Conversion to electric vehicles

2020-2030 OSTT Net Zero Plan

  • 01 Baseline Established
    1. Date: 28 Feb 2022
  • 02 Interim Target Set
    1. Interim Review Date: 2030
    2. Carbon Emission Reduction Target: 0.57
    3. ktCO2e (-42.7%)
  • 03 Emission Reduction Plan Development
    1. Consulting supported
  • 04 Business Plan Established
    1. Board Approval Date : 30 Sep 22