Vopak takes a precautionary approach to environmental management. The company states that it aims to “reduce the intensity of the use of raw materials, energy and water and to curb emissions to soil, air and surface water.” To manage its environmental risks Vopak has implemented a strong environmental, health, and safety management approach and applies 75 operational standards to maintenance and spill management on a global basis. To maintain clean water at its terminals Vopak has instituted water management programs designed to continuously assess current systems and upgrade or replace water treatment systems for best performance. Vopak’s terminals also employ a range of energy saving initiatives, including insulated tanks, high efficiency boilers, LED lighting, thermal pumps, and solar panels. Vopak includes suppliers in its internal policies on business conduct, safety, and environmental performance. The company’s supply chain policies are conditional and are re-visited through selective audits. Additionally, to minimize the physical risks that climate change and rising sea levels will bring, Vopak has installed flood walls and constructs terminals able to withstand Category 5 storms.
Portfolio 21 has asked the company to certify its terminals on a group-wide basis to ISO 14001 environmental management standards and improve its key performance metrics.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 9/30/13 and may not reflect current opinions or subsequent events.