We developed a sustainability management strategy for Teekay Corporation, one of the largest energy shipping companies.
Teekay is an essential marine link in the global energy supply chain. Operating in 17 countries around the world, they consist of five business units: Teekay Tanker Services, Teekay Navion Shuttle Tankers and Offshore, Teekay Gas Services, Teekay Marine Services and Teekay Petrojarl.
The Business Challenge
With a major global footprint, Teekay had nonetheless developed an enviable reputation for its safety and environmental practices. Their challenge was to further embed sustainability and align operations with best practices, not only to meet stakeholder expectations, but also to ensure the enterprise was building significant business value from its efforts.
How We Helped
To address the needs of their stakeholders and further their sustainability commitments, Junxion developed a new enterprise-wide vision and mission, with sustainability incorporated as a core value. To support this, Junxion began by leading a stakeholder mapping and materiality exercise to assist the organisation in the development of its first-ever sustainability management strategy. Teekay used the results of the materiality to engage those stakeholders around its strategy and inaugural sustainability report.
As a result of the work, sustainability is now being firmly embedded in the company’s strategy and goals. Teekay is further engaging Junxion to develop and strengthen their sustainability reporting. The stakeholder engagement process has generated goodwill and affinity with a variety of stakeholders, adding to Teekay’s enviable reputation.