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Our Approach
A circular economy focuses on reducing waste and pollution, extending the lifecycle of products and materials, and regenerating natural systems. At AET, we apply these principles by optimising the use of resources across our operations and promoting responsible management of materials throughout the lifecycle of our assets.
Focus Story: Reducing waste generated by AET Offshore
Waste management at AET Offshore is guided by a clear hierarchy: Refuse, Reduce, Reuse and Recycle. This approach prioritises waste prevention and material recovery, ensuring waste streams are managed as resources wherever possible.
Through the consistent application of this framework, AET Offshore achieved 100% 4R performance for hazardous waste management and continued to improve its recycling performance across non-hazardous waste streams.
| Our Commitments and Performance | ||
|---|---|---|
| OUR COMMITMENT | OUR PERFORMANCE IN 2024 | COMMITMENT STATUS |
Shipping Operations(1): Reduce plastic waste generation (m3/vessel/month) by 28% in 2025 (versus 2019 baseline) | 15% reduction | Not meeting commitment |
Shipping Operations(1): Reduce paper consumption (ream/vessel/month) by 37% in 2025 (versus 2019 baseline) | 36% reduction | Not meeting commitment |
Ensure all ship recycling complies with the Hong Kong Convention(2) | Ship recycling guidelines in place, no ship recycling in 2025 | Meeting commitment |
AET Offshore operations: Maintain an annual 4R (Refuse, Reduce, Reuse, Recycle) rate of >95% of hazardous wastes generated | 100% | Meeting commitment |
AET Offshore operations: Increase the annual 4R rate of non-hazardous wastes generated to 60% in 2025 from 10% in 2018 | 57% | Not meeting commitment |
(1) Refers to all owned and chartered-in vessels in our Petroleum and Product fleet
(2) Refers to the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships