Supply Chain

sharing knowledge and innovation emerge. Finally, on the environment the impacts relate to the fact that everything that is produced (material or service) has an effect on the environment. We believe, it is everyone’s duty to become conscious of the importance of our actions towards Earth. Danaos Shipping, as a responsible corporate citizen of the world, supports and promotes every effort that improves the above parameters in the best possible way. We constantly seek ways to improve procurement policies and procedures, We are actively working In this Chapter especially those relating to key elements with our suppliers for the improvement of social GRI 102-9 which contribute to responsible practices. We pay special attention to the extensive conditions and the minimization of our use of environmentally responsible environmental footprint. We recognize vendors. Our vendors are already fulfilling that everything is interconnected our major criteria, and new and that we share a common co-operations are tested and future. Through the collaboration considered in order to achieve with our suppliers we aim to our targets faster. achieve mutually shared targets and ease social considerations. The ability to conduct business The Company’s Procurement in a manner appropriate towards Department is responsible for promoting ethical, social and sourcing, analyzing, negotiating environmental standards plays and supplying materials and a major role in the selection services to meet the needs of of our suppliers. They are the vessels and their personnel expected to take steps for onboard. It interacts with hundreds continuous improvement in the of vendors and service providers aforementioned fields and adhere across the globe producing to our code of ethics and our tens of thousands of orders and service commitment for environment protection, agreements. safety and proper working conditions in a responsible and sustainable way. Major A significant employment volume is therefore areas of focus are equal opportunities, created, at a local and international level, compliance with international labor for thousands of people and in the process standards (no child labor, decent working has a considerable impact on the economy, conditions), health and safety awareness, in terms of job creation, production of zero corruption tolerance, transparency revenue, empowerment of companies and and fair business policy. Although improvement of the economy’s indices. In hundreds of suppliers cooperate with society the impact relates to the increased Danaos Shipping, the Company promotes prosperity of people, sharing common ‘green’ and quality suppliers (holders of interests and enjoying a chance for a better relevant certification i.e. ISO 14001 or life. At the same time, an international ISO 9001) and targets the increase of their culture is created and opportunities for inclusion in procurement services.

More than 70% of our major suppliers and more than 50% of our medium and small suppliers have been characterized as “green suppliers” through our rigorous assessment of relevant certifications they hold. We aim at increasing these percentages to 85% and 70% respectively.

During 2019 there were no incidents identified during the life cycle of the organizations services which resulted in fines, penalties and/or warnings.

ENGAGING WITH EMPLOYEES, SOCIETY AND ACADEMIC COMMUNITY

In this Chapter GRI 102-12 GRI 403-6

It is our main goal and a strategic priority to create value for the society and the community, in which we operate, and to keep our employees engaged and involved through various voluntary initiatives. We believe in the value and power of solidarity. We try to help those in need and sensitize our employees on the significance of a volunteer’s social contribution. We are therefore involved in a series of valuable initiatives and actions. We strive to provide a healthy working environment for our employees, taking special care of their wellbeing. Throughout the year we offer opportunities for entertainment and teambuilding.