The BIMCO ESG Network celebrated its first anniversary and 5th meeting, focusing on the commercial benefits of ESG reporting, ranging from compliance to gaining a competitive edge through exemplary environmental and safety practices.
According to BIMCO, the Environmental, Social and Governance (ESG) network, now comprising 70 members, including seafarers and port representatives, showcases diversity in roles and experience levels. The term ESG refers to a set of metrics used to measure an organization’s environmental and social impact and has become increasingly important in investment decision-making over the years.
To facilitate deeper discussions, smaller breakout groups will tackle specific topics in the coming year. The search for a Chair or Co-Chair aims to drive member-centric and member-led discussions, while the EU perspective, particularly centered on the EU Green Deal and Climate Ambition, remains a focal point.
Deloitte speakers provided a comprehensive overview of EU regulations, such as the Corporate Sustainability Reporting Directive, shedding light on their implications for logistics and decarbonization strategies within the shipping industry.
Notably, the speakers emphasized the significance of both ESG narrative and compliance, signaling a shift towards a more holistic approach to business operations.
Furthermore, challenges such as due diligence and information sharing within value chains were explored, with a particular focus on traceability, which presents unique challenges, especially for shipping companies.
Looking ahead, the network plans to address various pertinent topics, including GHG emissions reporting, seafarer wellbeing, education, training, and maritime anti-corruption.
