Commenting on this development, Marcio Valentim Moura, Director of Global Logistics for Bunge, and who represents Bunge in the SRTI and its parent organization, the Sustainable Shipping Initiative, said that:

As a cargo owner, and as the first agribusiness company to join the SRTI, Bunge can provide valuable insight to shipping companies about our logistics and sustainability needs and expectations

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Now, Bunge aims to cooperate with partners and stakeholders across sectors in the value chain to boost standards and develop practical approaches to achieve them at scale.

In addition, Andrew Stephens, Executive Director of the Sustainable Shipping Initiative who host the SRTI, added that as the first agribusiness company to sign up to the SRTI, Bunge showcases its and commitment to drive responsible ship recycling, which is crucial for the transformation to sustainable and responsible ship recycling practices.

The goals of the SRTI are the following:

  • Improving transparency in the ship recycling value chain;
  • Increasing shipowners' disclosure of ship recycling policies and practices;
  • Helping cargo owners, investors and other stakeholders to make informed decisions when using shipping companies and to support improved performance;
  • Creating a level playing field for shipowners on ship recycling, covering the entire vessel lifespan.

By realizing these targets, the SRTI and its members aspire to tackle challenges in parts of the ship recycling industry, including pollution in the environment and occupational health and safety risks for workers. The SRTI also focuses on addressing access to proper health care, wages, working hours, collective bargaining and freedom of association for employees in the industry.