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Corporate social responsibility greyseparator460.

In order for Höegh’s business activities to be sustainable in the long-term we must strive for economic growth, environmental improvements and social responsibility. This is often referred to as the triple bottom line. Höegh aims to contribute to sustainable development by acting as a socially responsible shipping company working actively to integrate social and environmental concerns in running business operations and to find a sound balance between the need for operational efficiency, shareholder value and attention to the interest of non-financial stakeholders.

Economic performance
Economic growth is a prerequisite for sustainable development of the company. Through its activities with maritime transportation of rolling goods and energy, Höegh contributes to value added and economic growth for individuals, corporations and society, as well as for its shareholders. The financial statements are reported elsewhere in the annual report.

Environmental performance
Over long distances sea transportation is considered to have less negative impact on the environment than other means of transportation. Vessels carry large quantities of goods in an effective way with relatively low impact per unit carried. Höegh affects the environment mainly by consuming nonrenewable fuel, emissions to air and disposals to sea water. The company works actively with the objective to reduce the influence on the environment formalised through ISM and ISO 14001 certification (Environmental Mamagement System). The company issued its first environmental report in 2001.

Social performance
The notion social responsibility is often referred to as Corporate Social Responsibility (CSR). The World Business Council for Sustainable Development (WBCSD) defines CSR as:
“The commitment of business to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve their quality of life”

Höegh extends its CSR activities beyond the requirements, which the maritime industries are subject to, and has made CSR a prioritised part of its activities.