Flex LNG - 2021 Annual ESG Report

May 11, 2022
Hamilton, Bermuda

Flex LNG Ltd. today release its 2021 Annual ESG Report. This is the fourth edition of our ESG report after the inaugural report in 2018 and contains key information about our commitment to the Environment, Social development, and Governance issues.

The report presents our material environmental, social, and governance (ESG) performance, along with how we manage material sustainability topics, for the financial year ended December 31, 2021.

The ESG report is prepared in accordance with requirements of the Sustainability Accounting Standards Board’s (SASB) Marine Transportation Standard (2018) and has been prepared in accordance with the Global Reporting Initiative (GRI) Standards (2021). It is based on the NASDAQ ESG Reporting Guide 2.0 and Euronext Guidelines to issuers for ESG reporting. The report is also prepared in line with the disclosure requirements of the UN Global Compact.

The ESG report attached is also available on the company’s website www.flexlng.com. An index of disclosures responding to the Global Reporting Initiative (GRI, core option) is also available on our website.

Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS, commented:

“We are pleased to publish the fourth edition of our annual ESG report. ESG is an integral part of our business strategy and we will continue to broaden the scope of our initiatives and our ESG reporting. Our business strategy is to transport LNG which is primarily utilized to replace coal and to some extent diesel in power generation. Replacing coal with natural gas cuts CO2 emissions by about half, but also cleans up the local environment due to the clean burning properties of natural gas. Furthermore, we transport the LNG on the most fuel-efficient ships in the industry, reducing the fuel consumption per transported unit close to 60% compared to the steam generation. 2021 was a challenging year operating ships when it comes to crew rotations due to Covid-19 restrictions. We have put top priority on carrying out these crew rotations despite the obstacles as the welfare of our crew is part of our social responsibility. We would therefore like to extend our gratitude to crew and onshore personnel for their diligent work and great results in this matter.”

For further queries, please contact:

Mr Knut Traaholt, Chief Financial Officer of Flex LNG Management AS
Telephone: +47 23 11 40 00
Email: IR@flexlng.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act