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Sustainability, also known as Corporate Social Responsibility, refers to sustainable management for sustainable development with environmental and social responsibility. Sustainability includes three elements; people, planet and profit and has three pillars; economic, social and environmental. It is important to note that sustainability cannot exist without balance between all elements. Too much focus on a specific area will make the model to collapse.
Shipping industry should be safe and secure, environmentally responsible, reliable and efficient; in simple words our industry should be sustainable. The sustainable approach is present during all aspects of the life-cycle of a vessel; from design to construction and from operation to disposal.
When talking about sustainability, the most important thing is to be practical. In 2012, IMO committed to sustainable maritime development during RIO+20 and last year IMO issued its strategy on sustainability and set all actions needed for a sustainable maritime transport system contributing beyond RIO+20.
IMO strategy has the following ten principles:
- Safety Culture & Environmental Stewardship
- Education & Training in Maritime profession and support for Seafarers
- Energy Efficiency & Ship-Port Interface
- Energy Supply for Ships
- Maritime Traffic Support & Advisory Systems
- Maritime Security
- Technical Cooperation
- New Technology & Innovation
- Finance, Liability & Insurance Mechanisms
- Ocean Governance
Capital Shipmanagement implements all ten principles on its strategy. For example regarding education & training, the company continues to recognize the role of Human Element in particular with respect to new technologies and innovations. Capital implements energy efficiency measures and investigates potential use of other sources of energy such as LNG. The company promotes guidance on preventive and defensive measures to protect ships from security threats. The company develops and maintains mechanisms of relevant technology to comply with new or existing legislation and regulations, starting with new designs and technologies for EEDI compliant vessels. Regarding ocean governance, Capital engages in ”use of seas” initiatives and information sharing, with a view to participating trade, environmental and safety aspects (eg special areas, environmentally sensitive areas, Arctic navigation)
This strategic approach to sustainability has the following benefits for shipping companies which will decide to implement:
- Raise the profile of Maritime Sector and Shipping Companies which implement this approach
- Highlighted the strategic approach chosen by a Shipping Company, in order to contribute in a more sustainable maritime sector
- Engaging partners to achieve “major supply chain efficiency gains.”
- Providing safe, healthy and secure work environments “so that people want to work in shipping, where they can enjoy rewarding careers and achieve their full potential.”
- Exploring ways to put a financial value on ecosystems, goods and services to ensure responsible resource use and reduce ecosystem impacts.
- Developing financial solutions that reward sustainable performance and enable large- scale implementation of innovation, technology, design and operational efficiencies.
Above article is an edited version of Stavros Meidanis presentation during2014 GREEN4SEA Forum
More details may be found by viewing his Presentation video
