Towards a sustainable maritime future
Our vision is to create tomorrow’s solutions for sustainable marine operations. We care for the natural environment and the society we are a part of, and sustainable growth is at the core of what we do. We have been around for more than 100 years, and we aim to keep going for generations to come.
A sustainable maritime legacy
Ulstein is on a journey in the maritime realm, blending tradition with innovative, eco-conscious designs. We value collaboration and believe that together, with like-minded partners, we can chart a sustainable course for the future.
Join us as we navigate and contribute to a greener maritime legacy.
ESG report 2025
Ulstein has delivered 'Communication on progress' (COP) reports to the UN Global Compact since 2013.
If you would like to know more about our approach to sustainability, please visit the UN Global Compact website for previous reports.
Driving sustainable growth through ESG leadership
At Ulstein, sustainability is not a side initiative; it is central to how we innovate, operate, and grow. Our commitment to Environmental, Social, and Governance (ESG) principles is reflected in every aspect of our business, from pioneering ship designs to inclusive workplace practices and transparent governance.
Explore the highlights below or dive into the full report to see how we’re turning visions into reality.
Environment
At Ulstein, sustainability is embedded in our operations, from ship design to shipyard practices. In 2025, we maintained energy intensity below our target at 4.6 MWh per MNOK revenue and reduced our Scope 1 and 2 emissions to 7,007 tCO₂e through continued efficiency improvements and a cleaner electricity mix.
Our shipyard, Ulstein Verft, continues to lead with energy-saving initiatives such as LED lighting, waste heat recovery, and shore power. The upgraded shore power facility became operational during 2025, helping vessels reduce local emissions and noise while alongside the quay. We also continue to explore future solutions that can further improve energy efficiency and reduce environmental impact.
Circularity remains central to our environmental strategy. In 2025, we extended the service life of 15 vessels through maintenance, upgrades and conversions, helping customers maximise asset value while reducing the need for newbuilds. Through our ship design, shipbuilding and aftermarket activities, we continue to support more resource-efficient operations across the maritime industry.
Our innovative designs, including the X-BOW®, X-STERN®, and TWIN X-STERN®, demonstrate our commitment to reducing energy consumption, improving vessel performance, and enabling more sustainable marine operations. In 2025, we delivered additional TWIN X-STERN vessels optimised for reduced fuel consumption and lower emissions.
Social
Our people are at the heart of Ulstein. In 2025, we had 528 employees across four countries, with 95% on permanent contracts. We are proud to report a gender pay gap of -2.5% in our Norwegian companies, meaning that women earned slightly more than men on average.
We are committed to diversity and inclusion, with female leadership increasing to 26% in 2025. Through apprenticeships, education partnerships, talent development programmes and leadership training, we continue to build a future-ready workforce and strengthen competence across the organisation.
Health and safety remain a top priority. While our Total Recordable Incident Rate remained well below target, the increase in lost-time injuries during the year highlights the importance of continued preventive measures, learning and follow-up. Multilingual HSE training and proactive safety initiatives remain embedded in our daily operations.
We also contribute to society through partnerships with schools, universities, industry networks and community initiatives, helping to inspire future generations and strengthen the maritime cluster.
Governance
Governance at Ulstein is guided by our Code of Conduct and a comprehensive policy framework covering ethics, due diligence, HSE, quality, information security and whistleblowing. Sustainability is integrated into both strategic decision-making and day-to-day operations across the Group.
In 2025, we reported zero cases of corruption and zero human rights violations. Through continuous ethics training, supplier due diligence and compliance processes, we work to ensure responsible business conduct throughout our operations and value chain.
We comply with the Norwegian Transparency Act and conduct annual due diligence assessments to identify and address potential risks related to human rights and decent working conditions. Our sustainability reporting follows the Voluntary Sustainability Reporting Standard for non-listed SMEs (VSME), supporting transparency, accountability and continuous improvement across all ESG domains.
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Ulstein's environmental commitment
At Ulstein, our guiding principle is straightforward: to support seamless marine operations through dependable ship designs, meticulous shipbuilding, effective system solutions, and dedicated services.
Our foundational values, "Innovate, Engage, and Advance", coupled with our strategic ambitions of "Sustainable Growth, Internationalisation, and Innovation", consistently steer us towards our vision:
"We create tomorrow’s solutions for sustainable marine operations."
Commitment to the environment is not just a statement for us; it's an integral part of our QHSE Policy:
Consistent compliance: We are dedicated to complying with all current regulations and standards, ensuring our operations are both safe and environmentally responsible.
Thoughtful innovations: We aim to provide solutions that meet our clients' needs and make a positive environmental difference by reducing emissions and environmental impacts.
Progressive sustainability steps: Sustainability is a journey, and we're on it. From enhancing energy efficiency in our everyday activities to championing the responsible use and recycling of materials, every step counts.
Related material
QHSE policy
We are a long-term partner working to ensure future competitiveness and sustainable growth.
Ulstein has a set of principles and guidelines to ensure the safety and health of our employees and those visiting us, protect the environment, and maintain the quality of our products and services.
Transparency Act
The Norwegian Transparency Act mandates large Norwegian companies and their subsidiaries to respect human rights and decent working conditions, allowing public requests for information on their impact.
Code of Conduct
Ulstein's Codes of Conduct for employees and partners in the maritime supply industry emphasize ethics, integrity, and respect in all business practices.
Working with Ulstein
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