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UN Global Compact


UN Global Compact Alignment

Yang Ming's Current Alignment with the "UN Global Compact"
 
  UN Global Compact  Yang Ming’s Current Practice and Future Planning
Human Rights 1. Support and respect internationally-acknowledged declarations of human rights protection  The Company supports and complies with internationally-acknowledged human rights norms and principles including the "International Bill of Human Rights," "UN Global Compact," and "International Labour Organization Fundamental Conventions and Standards" which cover but are not limited to protecting the rights and interests of workers. We have also developed a human rights policy according to the guidelines of the aforesaid documents. Each of the Company's ships operates in compliance with the Maritime Labour Convention (MLC) and has been certified for compliance with the MLC.
2. Ensure no involvement in human rights infringement  The Company's operating locations are distributed all over the world. When it comes to human rights, we respect and protect all internationally acknowledged human rights and never engage in any activities that neglect and involve human rights violations to ensure thorough protection of internationally acknowledged human rights. Internal rules and regulations have been established. For violations of laws and regulations or the Company's internal regulations, punishments are given according to relevant punishment policies. 
Labor  3. Protect the freedom of assembly and explicitly acknowledge the right of collective bargaining  To protect the employees' right to assembly, all seafarers are free to join the National Chinese Seamen's Union (NCSU). The Yang Ming Marine Union has been established for over 23 years, and the Company's employees may join or withdraw as they wish. A total of 1,165 people have the corporate union, accounting for about 75% of the Company's onshore employees and Taiwanese seafarers. The Company currently has harmonious labor-management relations and does not enter into a collective bargaining agreement. In addition, to ensure smooth labor-management communication channels, a labor-management meeting is held regularly in the year in order to cement labor-management relations and protect the rights and interests of workers. Moreover, we also make sure our employees have the freedom of association. They can join and participate in any clubs and activities they wish to.
4. Eliminate forced or compulsory labor in any form  The Company always protects internationally-recognized labor rights in all operating premises, respects workers' freedom and prohibits any form of forced labor. We have also established a seafarer's job description to specify their job duties. 
5. Clearly prohibit child labor  The Company prohibits the employment of child labor in accordance with labor laws and regulations. We exclude child labor when recruiting employees. Currently, there are no children employed by the Company.
6. Eliminate discrimination in employment and occupation  We strive to eradicate discrimination in employment by hiring female seafarers and paying the same starting salary for male and female employees. In 2023, the percentage of onshore female employees grew by 0.66% compared to 2022, and the percentage of onshore female managers grew by 4.44% compared to 2022. Male employees are also allowed to apply for unpaid parental leave. Through the "Maternal Health Protection at Work Program," the Company actively promotes relevant care activities and offers the employees excellent breastfeeding rooms to protect maternal health.
Environment  7. Take preventive actions against environmental challenges  The Company has implemented our Ship Energy Efficiency Management Plan (SEEMP) aligned with international regulations and constantly monitored energy efficiency or the ships and their Carbon Intensity Indicator (CII) performance. We also retrofit the ships to increase their energy efficiency and reduce environmental impact e.g., energy saving devices, ballast water treatment systems. We also continuously assess the feasibility of adopting alternative fuels for future newbuilding ships. In 2023, we began constructing 5 15,500 TEU LNG dual-fuel container ships, which are expected to be delivered from 2026 onwards.
8. Support initiatives to further fulfill environmental responsibilities 
  • Based on the TCFD framework, the Company has included climate change in the assessment scope of the Group's risk assessment reports and organized the climate change-related risks and opportunities that the Group has identified in the assessment reports as a reference for the Company's medium-to-long term strategies.
  • We have joined the Silk Alliance, the Getting to Zero Coalition, and the Society for Gas as a Marine Fuel (SGMF) to develop and promote vessel decarbonization strategies
9. Encourage the development and promotion of environmentally friendly technologies 
  • The Yang Ming Smart Ship Center System has been developed to monitor vessel performance and hull efficiency. The CII and related rating calculations have been included in the Smart Ship Center – Green Shipping Module.
  • Digitalization has been promoted to cut paper use. It is estimated that about 212 tons of carbon emissions and 2.1 tons of toner can be reduced and saved by exchanging bills of lading with customers
Anti-Corruption  10. Strongly against corruption, including extortion and bribery 
  • The Company has established the "Codes of Ethical Conduct," "Ethical Corporate Management Best Practice Principles," "Procedures for Ethical Management and Guidelines for Conduct," and other internal regulations to forbid any form of corruptive behavior.
  • In accordance with the "Regulations Governing the Audit Committee's Handling of Stakeholder Suggestions and Complaints" and "The Procedures of whistleblowing cases for Yang Ming Group Members", a stakeholder suggestion and complaint system and a whistleblowing system have been developed to maintain the Company's corporate culture of ethical management.


UN Global Compact – Sustainable Ocean Principles Alignment

Yang Ming's Current Alignment with the "UN Global Compact - Sustainable Ocean Principle"
 
  Sustainable Ocean Principle  Yang Ming’s Current Practice and Future Planning 
Ocean Health and Productivity 1. Assess the short-term and long-term impacts of corporate activities on ocean health and integrate these impacts into corporate strategies and policies. 
  • "Care for the environment and treasure the Earth" is the environmental policy of Yang Ming.
  • The Company operates international shipping services, maintaining the marine environment, making good use of resources, preventing pollution, and giving back to society are the Company's main responsibilities. We observe the laws and regulations of port states and preemptively take actions to ensure compliance of our fleet with regulatory requirements and thereby reduce the impact on the local marine environment. For details, please refer to CH3 Green and Sustainable Shipping - Operating Strategies for Environmental Sustainability.
2. Consider opportunities for sustainable business activities that contribute to the restoration, protection and maintenance of ocean health, productivity, and marine life.  Yang Ming participates and sponsors activities related to environmental protection, ecology, public welfare, and social growth, including beach and harbor cleanups. We have collaborated with the National Museum of Marine Science and Technology on the Coral Sea Restoration Project to build two breeding tanks. We also encourage colleagues to volunteer for coral grafting. So far this restoration project has cultivated 1,016 coral seedlings.
3. Take action to prevent ocean pollution, reduce GHG emissions in the operations to stop ocean warming and acidification, and promote the circular economy.  We have calculated the carbon intensity of the ships in our fleet since 2008. The carbon intensity in 2023 was 37.90 g/TEU*km. A new fleet must meet the following requirements:
  • New, tin-free antifouling paints are used to avoid affecting the genes of marine life, causing genetic mutations, and impacting the ecology.
  • All ships in the fleet have ballast water management certificates and implement ballast water management plans in compliance with the regional regulations of port states. For existing ships, ballast water treatment systems are installed on an annual basis to control and mitigate the impact on marine ecology.
  • A ship biofouling management proposal has been made to ensure the effectiveness of the general biofouling management plan of our fleet and significantly reduce delayed ship operations.
4. Make relevant plans and manage the use of and impact on ocean resources to ensure long-term sustainability. Assess the impact of operating activities on the ocean as well as coastal areas and communities using precise measurement methods.  The carbon intensity is calculated with precision for an ongoing measurement of emission reduction performance. Each vessel has an environmental ship index (ESI) efficiency score. The ESI is used by ports to measure the carbon emissions of docked ships to facilitate the reduction of carbon emissions from ships. As long as carriers promote the upgrading of carbon reduction technologies for engines, fuels, etc. and make the carbon emissions of their ships lower than that specified by the International Maritime Organization (IMO), they may receive incentives. The Company was granted USD 66,600 by northern American ports in 2023, showing the ports of call's substantive recognition of the Company's effort in reducing vessel carbon emissions.
Governance and Engagement  5. Ensure responsible communications with law enforcement agencies and normative organizations related to ocean laws/regulations/framework Yang Ming actively supports the goal of net-zero carbon emissions by 2050 of national policies, the EU, and the International Maritime Organization (IMO) and IMO's target of a 40% carbon intensity reduction by 2030. The Company's current carbon intensity has been reduced by 61.86% compared to 2008, higher than the reduction required by IMO. We also pay continuous attention to the amendment and promulgation of ocean laws and regulations. Yang Ming shall keep tabs on issues related to internal and external communications in the future.
6. Observe and support standards, and promote best practices to facilitate healthy and productive oceans and protect marine life in related sectors/markets. 
  • Yang Ming strictly complies with the International Convention for the Prevention of Pollution from Ships and the International Convention for the Control and Management of Ships' Ballast Water and Sediments. The management of vessel waste, vessel sewage and ballast water are conducted.
  • YM Oceanic Culture & Art Museum promotes ocean cultures on a continuous basis. In 2022, it launched a permanent exhibition: Seafarer Activities for Kids: A Day in the Life of a Seafarer, integrated with games designed based on the ESG elements (treating wastewater from washing containers and using eco-friendly container paints) of Yang Ming, in order for children to know Keelung Port through playing and understand what it is like to work onshore at the port dock. Children completing the activities are granted a certificate of completion. The museum also published a picture book, "Yang Yang and Slowly the Whale," to promote marine education through the Yang Ming Marine Academy campus tour.
  • In 2023, we worked with the Marine Vacuum Cleaner team to organize port cleanups. The Company also implemented educational course programs in order to give the employees an understanding of the marine environment and marine technology applications, provide solutions for the shipping industry through knowledge, and return the ocean to its original lively state. 26 port cleanup activities and 12 domestic and overseas beach cleanup activities were organized, and a total of 583 people participated in the beach cleanup activities. The total amount of trash cleaned in the beach and port cleanup activities was 1.3968 tons.
7. Respect human rights, labor rights, and the rights of indigenous peoples in the company’s ocean-related activities, including exercising appropriate due diligence in the supply chain and seeking opinions on identified significant impacts from relevant stakeholders and communities in a timely, transparent and inclusive manner. 
  • Yang Ming has a human rights policy in place, committed to upholding internationally proclaimed human rights in which we operate without any unfair treatment arising from ethnicity or gender, caring for the underprivileged, forbidding the use of child labor as well as eliminating all forms of forced labor and discrimination in recruitment and employment. The Company offers fair, reasonable work conditions and a safe work environment and protects the physical and mental health of employees, dedicated to an ongoing elimination of hazard factors to health and safety so as to reduce risks of occupational hazards. By signing the Neptune Declaration, the Company ensures the seafarers' well-being and crew change, maintaining the smooth operation of the supply chains worldwide.
  • The supply chain risk investigation conducted by the Company includes Human Rights Due Diligence
Data and Transparency  8. Provide appropriate and relevant scientific data to support ocean-related research and exploration plans.  Yang Ming obtained an invention patent for the "Method for Predicting Fuel Consumption of Ship" (I792418) in collaboration with National Cheng Kung University.
9. Adopt transparent reporting of ocean-related activities, impacts and dependency. 
  • Yang Ming publishes a sustainability report and conducts stakeholder engagement yearly and constantly communicates with Competent Authorities in conducting businesses in order to ensure the operational compliance of the Company.
  • The greenhouse gas inventory has been carried out continuously, with the relevant inventory results disclosed as the basis for sustainable environmental management and carbon reduction actions.
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