OBJECTIVES AND SCOPE
Danaos Shipping's commitment to sustainability is reinforced by our proactive approach to the Stakeholder Engagement policy, which involves actively addressing their interests and concerns. The scope of this policy is to identify, map, and prioritize stakeholders, to determine the best tactics for effective communication while making the best use of available resources. In line with this, we aim to foster connections, trust, and confidence. An ongoing dialogue with stakeholders for our own operations and the whole supply chain is integral to our strategic planning.
STAKEHOLDERS ENGAGEMENT PLAN
On a biannual basis, the ESG Committee conducts a review to reevaluate and identify our stakeholders, followed by a subsequent materiality assessment. This process includes a thorough assessment that evaluates both the organization's impact on these issues and the impact of these issues on the organization.
The main stakeholders of the company are:
- Employees
- Seafarers
- Customers
- Finance Related Stakeholders
- Government Officials and Authorities
- International Industry Organisations and Regulators
- Suppliers
- Society
Through this process, we identify the relative importance of specific sustainability topics to our company. These expectations are tailored to the specific needs and concerns of each stakeholder group.
After this analysis, the ESG Working Team submits a proposal for approval to the CSO regarding the communication channels and the frequency of engagement with our key stakeholders. This proposal will also outline specific methods of engagement tailored to each stakeholder group, such as customer satisfaction surveys for customers and employee welfare initiatives for employees.
Upon the COO's final review and approval, the CSO communicates the Stakeholder Engagement plan and the respective communication channels to all company stakeholders. This communication will also include a timeline for each engagement activity, identify the responsible parties for each stakeholder group, and set key performance indicators (KPIs) to measure the effectiveness of our stakeholder engagement.
The ESG Committee is responsible for monitoring the implementation of the plan and will report to the CSO accordingly. Periodic reviews will be conducted to update the plan based on stakeholder feedback and any changes in their expectations.
WHISTLEBLOWING & REPORTING
At Danaos Shipping, we emphasize transparency and responsibility by providing secure channels for stakeholders to report concerns about our codes, policies, or any violations of regulations. Our whistleblowing system is designed to handle reports confidentially, covering issues like accounting practices, legal compliance, and workplace conduct.
For employees, we provide an Internal Grievance Form to address work-related issues such as discrimination, harassment, or unfair treatment. Both systems are designed to protect anonymity for those who wish to remain anonymous, while contact details can be provided to facilitate resolution. We uphold a strict non-retaliation policy, ensuring no one is subject to adverse actions for reporting concerns in good faith.