Given the importance of sustainability, the main operating subsidiaries have further strengthened and enhanced their sustainability reports over the previous years
This report should be read in conjunction with the Board of Directors report and vice versa.
The structure of the sustainability report is firstly to describe how the Company is governed with emphasis on transparency in corporate governance, with the composition and independence of both the Shareholders Committee and the Board of Directors and with internal control procedures in general. Secondly, the sustainability report describes the environmental aspects showing that the Group of companies consolidated has a significantly positive CO2 footprint resulting from the direct contribution from the wind farms and the indirect contribution from the Wind Service segment which are actively involved in transport, installation and service of wind turbines.
The sustainability report elaborates on the Green Finance Framework which was established in 2020 and updated at the turn of the year 2022. Furthermore, the report describes the human resources aspects of the Group of companies, which strives to provide a good and safe working environment, equal opportunities without any discrimination and compliance with all applicable codes of conduct and anti-corruption policies. Eventually, the sustainability report describes the kind of local engagements in the countries of operations through employment of local people, taxes paid and the predominantly philanthropical contributions by the Fred. Olsen Social Engagement Group (FOSEG).
The sustainability report outlines both the commitment towards genuine environmental-friendly initiatives such as over 2TWh production of renewable wind energy, new offshore wind and floating solar development projects, and also highlights ongoing efforts to reduce CO2 emissions in our operations.
Respective operating subsidiaries sustainability reports:
Fred. Olsen Renewables Fred. Olsen Windcarrier
Global Wind Service Fred. Olsen Cruise Lines