Solvang’s activities, including GHG emissions, pollution, and social and economic effects of shipping, comply with port and flag state regulations, as well as EU and IMO regulations.

Since 2009, Solvang has documented and continuously optimized our fuel consumption, emissions, and operational efficiency through the consistent collection of operational data from all vessels across the fleet.

Materiality assessments

Since 2023, Solvang has conducted double materiality assessments of impacts, risks, and opportunities related to our environmental, social, and governance footprint, according to the ESRS (European sustainability reporting standard), and the EU Taxonomy Regulation.

GRI reporting

In addition, Solvang prepares sustainability reporting in accordance with the Global Reporting Initiative (GRI) standards, sectioned by GRI 11 Oil and Gas. Within this scope, we have evaluated the materiality of each designated topic by cross-checking for sustainability relevance, data availability,  strategic and human-related importance.

The GRI framework enables transparent reporting on Solvang’s impacts on the economy, the environment, and people, covering governance, strategy, policies and practices, climate change mitigation and adaptation,
emissions, waste and water management, and social responsibility related to health, safety, and nondiscrimination.

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VSME: EU sustainability reporting

In 2025, the European Commission adopted the Voluntary Sustainability Reporting Standard for Small and Mediumsized Enterprises (VSME) as a  recommendation for companies with fewer than 1,000 employees and annual turnover below EUR 450 million. The Fit for 55 objective – to reduce GHG emissions by 55% by 2030 – remains in place.

Starting with the 2025 ESG report, Solvang applies the VSME basic and comprehensive modules, aligned with our double materiality assessment of impacts, risks, and opportunities related to our operations.

Check out Solvang's VSME report for 2025 here.

Policy and management documentation

Solvang’s internal policy and management documents with references are available here.

Solvang’s GRI reporting

Solvang’s GRI materiality assessment includes

GRI universal standards

Three universal standards covering;
• Organization and reporting choices
• Activities and workers
• Governance
• Strategies, policies and practises
• Stakeholders

Sector standards

Solvang applies relevant chapters of GRI sector standard 11: Oil and Gas:

Material topic standards

• Biodiversity
• Climate change
• Energy
• Anti-corruption
• Emissions
• Waste management
• Employment
• Occupational health and
safety
• Training and education
• Local communities

Omitted topic disclosures