Sustainability

Sustainability is at the heart of Novum’s development strategy
 

• We are engaging with society - ensuring that we protect and preserve those communities impacted by our operations; keeping our employees healthy, safe and secure in the workplace; and continuing to enhance our knowledge and skills through lifelong learning opportunities.
• We implement robust safety policies and procedures with maximum precaution.
• We are investing in the future of our company - ensuring responsible and sustainable business development accompanied by robust governance, integrity and accountability.

As a global trading and logistics company, Novum is involved in the movement of crude, fuel oil, gasoline and distillates throughout the world via ships, barges, railcars and trucks, all of which carry an inherent risk.  However, through robust safety policies, training and inspections, Novum has to date successfully managed the risk of environmental incidents occurring throughout its operations.  We are confident that we have the systems in place to ensure that our excellent environmental track record continues throughout our global operations.

Environmental Policies

Every ship and barge Novum uses undergoes a rigorous internal and external vetting process.  The vast majority of ships chartered by Novum are under 15 years old, and the few older ships that are chartered on an exceptional basis are in possession of the highest Condition Assessment Program rating.  All ships we use are in compliance with all regulations and must maintain those approvals in order to be chartered.

Environmental Innovation

Novum is involved in developing an innovative method that would allow for a remote controlled and entirely automated sampling of product out of any shore tank without the need for an inspector to climb to the roof of the tank to open sampling ports that release gases in the atmosphere.  The benefits of the ATS system are multiple, including a clean carbon footprint, better tank turnaround, and consistency of sampling and analysis.

Investing in Solar Energy

Novum Energy has invested directly with the Government of Morocco in Maroc Photovoltaique SARL, a company developing a solar PV project with capacity of up to 150MW in Ain Bin Mathar, Jerada province in northwest Morocco.  This project is part of the Moroccan government’s ambition to raise its renewable energy share to 52% by 2030 and reduce fuel oil and diesel imports from Spain for power generation.  The investment to date is in excess of USD 200k and the project is estimated to be operational in Q3 2023.c

Our Carbon Footprint - Assessment and Reduction

Novum recognises the environmental impact of its carbon footprint and accepts the need for change to protect the world we live in.  We believe in the energy transition and are striving to work with like-minded partners and technologies to contribute to this transition.  Part of this journey involves the analysis and evaluation of the emissions generated from our operations.  To better understand this, we are working with external consultants to gauge our carbon footprint and devise strategies to reduce our emissions and accelerate our transition to a net zero future.