As a business which supports our clients on their sustainability journey, it’s important that we are able to look at our own sustainability story.  

Lloyd’s Register has spent the past 18 months implementing our new strategy to ensure all our resources are focused on supporting the maritime industry. We have done this because we believe there are some challenging and complex decisions for all in the industry. The next 20 years will be transformational if we get it right. 

We are committed to operating in a sustainable and responsible manner. Our sustainability strategy is built upon three pillars: 

  1. Enabling low carbon activities and sustainable supply chain.
  2. Empowering people and our communities.
  3. Embedding responsible business practices. 

By focusing on these areas, we aim to create long-term value for our stakeholders while minimising our environmental impact and contributing to positive social outcomes and a more sustainable future.

Our sustainability pillars

  • Enabling low carbon activities and sustainable supply chain
  • Empowering people and our communities
  • Embedding responsible business practices:

We will continuously work  towards reducing our carbon emissions through energy efficiency measures, renewable energy adoption, and the use of low-carbon technologies.

In 2021, we signed up to the Science Based Targets Initiative. This initiative drives ambitious climate action in the private sector by enabling organisations to set science-based emissions reduction targets. 

This involves a commitment to reduce absolute scope 1 and 2 GHG emissions 63% by 2035 from a 2019/20 base year, as well as a commitment to reduce absolute scope 3 GHG emissions from purchased goods and services and business travel 37.5% within the same timeframe. 

Our own targets, as set in our 2021/22 Annual Report, are for a 4.2% reduction per annum across LR’s GHG footprint, achieving zero carbon emissions by 2040 at the latest. Our 2030 targets include a 100% global electric vehicle fleet and interim 1.5°C-aligned emissions reduction.  

LR is focusing on addressing a number of high priority areas that will allow us to decrease our GHG emissions further:

  1. Energy Efficiency: We have implemented energy-saving measures such as using energy-efficient equipment, optimising building systems and promoting awareness among LR colleagues to reduce energy consumption.
  2. Renewable Energy: We will look to increase the procurement of renewable energy sources such as solar, wind, or hydropower to power our facilities. Where appropriate, we will consider installing renewable energy systems on-site to further deliver renewable energy.
  3. Green Transportation: We encourage sustainable transportation options for employees, such as carpooling, cycling, or using public transportation. LR provides electric vehicle charging infrastructure and is taking active steps to transition our fleet to electric or hybrid vehicles. 
  4. Waste Reduction: In all our locations we implement waste management practices that prioritise waste reduction, recycling and composting. We are also committed to not using any single use plastics at any of our locations or events hosted by LR.
  5. Sustainable Procurement: We actively incorporate sustainability criteria into our procurement processes. Give preference to suppliers who prioritise environmentally friendly practices, such as sourcing sustainable materials, reducing packaging, or having a strong environmental management system.

We are committed to optimising resource consumption and minimising waste generation by implementing sustainable practices throughout our operations. We work closely with our suppliers to ensure they share our commitment to sustainability, ethical practices and respect for human rights throughout the supply chain.

By promoting transparency through our supply chain and mapping LR’s supply chain enables the identification of any potential environmental and social risks. LR is working to establish mechanisms to monitor and evaluate supplier performance and compliance with their sustainability standards.

Safety has been Lloyd’s Register’s core focus since we were founded in 1760. The protection of people, ships and the environment is at the heart of all we do. We prioritise the health, safety, and well-being of our employees. We provide a safe and inclusive work environment that fosters personal and professional growth and encourages work-life balance. That is why, LR and our charitable Foundation released a landmark report, ‘Shining a light on seafarer wellbeing’. With 41% of the risk on a vessel managed by the crew, it is vital that maritime upholds the UNGC’s labour principles and supports seafarers.  

We are dedicated to fostering a diverse and inclusive workforce where everyone is treated with respect and has equal opportunities for advancement and success. Diverse thinking brings many perspectives and the communities we support enables our colleagues to develop the best possible solutions and the greatest impact. Our sustainability efforts focus on empowering all our colleagues and communities it serves. By fostering an inclusive environment, LR can tap into a diverse range of perspectives, talents and ideas, leading to more robust and innovative sustainable practices. LR ensures that employees are paid fair wages and provided with safe and healthy working conditions. 

Diversity, equity, and inclusion at LR

Professional development is important to LR. This includes training, skill development and career advancement. Providing learning opportunities and supporting colleague growth enhances job satisfaction and fosters a sense of empowerment.

LR is dedicated to making a positive social impact in our communities, supporting initiatives promoting education and sustainable development. We are committed to engineering a safer world through our charitable partnership with the Foundation. By combining our expertise and resources, we strive to create meaningful change that enhances safety, well-being, and opportunities for all.

LR uphold the highest standards of ethics and integrity in all our business dealings and strictly adhere to applicable laws, regulations, and industry best practices. LR believe in open and transparent communication with our stakeholders, including customers, employees, industry, and the wider community and actively seek feedback and collaboration to drive sustainable innovation. LR works to empower communities by engaging with various stakeholders, including local communities, NGOs, government agencies and industry partners. By collaborating with these groups, LR can identify shared goals and work together to address sustainability challenges.

There is ongoing work to establish key performance indicators (KPIs) to monitor LR’s progress in each pillar of the sustainability strategy ensuring transparent progress on LR’s sustainability journey is available. LR are committed to reporting on sustainability performance, sharing achievements, challenges and future goals through regular sustainability reports and public disclosures such as the United Nations Global Impact (UNGC) and the Science Based Targets Initiative (SBTi).

LR will review and update the sustainability strategy periodically to ensure its alignment with emerging sustainability trends, global frameworks and the evolving needs of our stakeholders.