Chowgule & Co., has partnered up with Lloyd’s Register (LR) to develop its first Environmental, Social, and Governance (ESG) report and wider group ESG strategy.
Scheduled for release in January 2025, the report will leverage 2023 operational data across Chowgule’s four Indian shipyards (three owned and one leased) as well as its EPC division. The report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards, providing a transparent and credible framework for measuring and communicating the company’s sustainability performance.
In addition, the report incorporates the Sustainability Accounting Standards Board (SASB) standards specifically tailored for marine transportation and industrial machinery and goods industries.
This inaugural report highlights the results of a comprehensive materiality assessment conducted by LR, involving both internal and external stakeholders. This process identified the most significant ESG issues for Chowgule & Co., helping ensure that the report addresses the concerns and expectations of its stakeholders.
Ambrish Bansal, Senior VP and Global lead Management Consulting, Lloyd’s Register, said that by integrating ESG principles, Chowgule is not only enhancing its operational resilience but also setting a benchmark for the maritime industry.
Sustainability is at the core of our vision. Through this collaboration with Lloyd’s Register, we aim to amplify our positive environmental and social impact while reinforcing our governance framework.
…said Arjun Chowgule, Executive Director, Chowgule & Co.
