Gujarat Pipavav Port Ltd

The Board holds a pivotal role in overseeing ESG-related matters, ensuring these considerations are fully integrated into our broader business strategy and operational decision-making processes. To strengthen this commitment, we have established two dedicated committees at the management level: the ESG Committee and the Decarbonization Committee. These committees are responsible for advancing our ESG initiatives, fostering accountability, and aligning our environmental and social objectives with the company's strategic vision. They also ensure that the Board is regularly updated on all key ESG developments, maintaining transparency and informed oversight. [...] The ESG Committee consists of cross-functional members of management who play a pivotal role in shaping our strategy and operational decisions, under the leadership of the Chief Executive Officer. To ensure that ESG integration is embedded across all operations, the committee comprises of specific business function heads who are responsible to align their operational goals with APM Terminals ESG objectives. The ESG Committee is also tasked with reporting progress on ESG-linked initiatives to the Board of Directors. [...] In addition, a Decarbonization Committee, chaired by our CFO has been established to specifically ensure accountability for the decarbonization initiatives and oversee the implementation.

Governance of sustainability in Maersk is overall anchored with the Board of Directors (Transformation and Innovation Committee) and the Executive Leadership Team. Under their oversight, our sustainability governance and integration approach secures executive ownership of sustainability and involvement in setting sustainability priorities and driving implementation, while also embedding sustainability in core processes related to strategy, performance, planning and risk management. In 2020, we revised the governance structure on decarbonising logistics to support an acceleration of our efforts. This includes an expanded steering committee with two executive members serving as an accountable decision-making forum, supported by a broader decarbonisation advisory group, preparing work plans and strategies and ensuring alignment across the company. The advisory group has defined a set of workstreams covering commercialisation, vessel design, energy efficiency, fleet and network, retrofitting, new fuels, sourcing and framework conditions.