The commercial insurance company, Swiss Re Corporate Solutions recently joined the Ship Recycling Transparency Initiative (SRTI), which calls for greater transparency and responsible ship recycling.
To remind, the SRTI aims to use transparency to accelerate a voluntary market-driven approach to responsible ship recycling practices.
Under the initiative, shipowners share information in relation to a set of disclosure criteria developed by industry stakeholders.
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By publicly disclosing their ship recycling policies, practices and progress through the SRTI, the platform enables cargo owners, financial stakeholders and others to use the data to inform their decision-making and reward good practice through the market.
By collaborating with SRTI’s network of forward-thinking businesses, we want to support the industry in understanding how to better track ship owners’ scrapping activities that are not respecting standard environmental guidelines and violating human rights. Working on these ambitions collaboratively with the SRTI and its members, we are confident that we can create a more sustainable future.
…said Patrizia Kern, Global Head Marine at Swiss Re Corporate Solutions.
For the record, Swiss Re Corporate Solutions joins a growing community of stakeholders who share a vision for a world where ships are recycled responsibly, socially, environmentally and economically, and are demonstrating their commitment to this vision by signing up to the SRTI.
Signing up to the SRTI is part of Swiss Re Corporate Solutions’ wider sustainability approach that aims to help protect corporates’ sustainability opportunities, share sustainability risk knowledge and lead by example, for instance by committing to net-zero emissions across its whole business by 2050.
Awareness of the ship recycling industry is growing rapidly in the world of sustainable finance. Now, more than ever, there is a need for transparency and accountability.
….Andrew Stephens, Executive Director of the SRTI, concluded.
