Glossary

Annual Efficiency Ratio. CO2 emissions divided by fleet or vessel DWT x distance sailed.
Total fuel consumption. 

Corporate Social Responsibility is a management concept whereby  companies integrate social and environmental concerns in their operations.

(Onboard) or shipboard Carbon Capture and Storage is the process of capturing exhaust-borne carbon dioxide (CO2), transporting it to a storage site, and depositing it where it will not enter the atmosphere for the overseeable future.

Normally related to a vessel´s periodic maintenance according to class requirements. The intervals are normally 5 years for newer vessels. 

Energy Efficiency Design Index. CO2 emissions divided by vessel DWT.

Energy Efficiency Operational Indicator. CO2 emissions per ton cargo during voyage.

Energy Efficiency Existing Ship Index describes the CO2 emissions per DWT and mile.

Environmental, Social, and Corporate Governance refers to the three central factors in measuring  sustainability and social impact.

Greenhouse Gas, gasses in the earth’s atmosphere which trap heat, namely CO2, CH4, NOx, and various synthetic chemicals, a.o.

The Global Reporting Initiative helps businesses, governments and other organisations understand and communicate their impacts on climate change, human rights and corruption. Divided into universal standards and topical standards. Revised universal standards (2021) effective for reporting from 2023 emphasize human rights and environmental due diligence, aligning with frameworks like the UN Guiding Principles and the OECD Guidelines. By the end of 2025, GRI aims to have revised or initiated revisions for all existing topical standards.

Health, safety, environment and quality, effective as key perfomance indicators in Solvang's structured personnel training and quality programme Living the Vision.

Lost Time Injury ratio measuring the level of injuries to employees in a company or an operation.

United Nations Sustainability Development Goals comprise 17 interlinked goals for organizations globally to pursue a sustainable future for all.  The SDGs were set in 2015 by the United Nations General Assembly and are intended to be achieved by the year 2030.

Living the vision - LTV - acronym for Solvang's structured personnel training and quality programme, covering all sailing personnel and some onshore employees. Consists of weekly onboard meetings assigned to topics like health, environment, safety, quality, planning, vetting, or maintenance.