Friday March 19, 2021

Flex LNG – 2020 Annual ESG Report

March 19, 2021
Hamilton, Bermuda

Flex LNG Ltd. (OSE/NYSE: FLNG) today release its 2020 Annual ESG Report. This is our third edition of our ESG report after the inaugural report in 2018. We have as of 2020, conducted a materiality analysis in line with the recommendations of the Global Reporting Initiative (GRI) to identify our core sustainability priorities and initiated a Climate Risk review based on the TCFD framework. The report contains key information about our commitment to the Environment, Social development and Governance issues.

The ESG report is prepared in accordance with the Marine Transportation framework established by the Sustainability Accounting Standards Board (SASB). 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 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 our third edition of our annual ESG report. We have continued to broaden the scope of our report and in this edition, we have also included GRI reporting standards. ESG is an integral part of our business strategy. Our business strategy is to transport LNG which is primarily utilized to replace coal and to some extent diesel. 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. 2020 has been 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:
Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS
Telephone: +47 23 11 40 00

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