Tag: ESG

Shipping companies are continuously required to comply with multiple and constantly changing ESG-related standards and regulations.

Mrs. Johannah Christensen, the newly- appointed CEO at Global Maritime Forum, reveals the key topics recently discussed at GMF’s Annual Forum in London, highlighting that decarbonization by 2050 remains the big challenge while the maritime industry has also shed its attention to ESG issues.

Prime Marine issued its first Sustainability Report, highlighting its environmental, social and governance performance for the year of 2020.

Capital Product Partners published its first ESG Report, setting out the impacts of its operations on the Environment, People and Society. 

ESG stands for Environmental, Social and Governance and in a business setting it can be translated into the sustainability practices in the company's business model. Further to this, according to PwC, recent trends in ESG performance are now impacting the decisions of investors in the capital market and the ability of shipping companies to access financing.

The recent trends in sustainability, thus the Environmental, Social and Governance (ESG) performance, are now impacting the decisions of all maritime stakeholders, along with the emerging contractual and regulatory requirements. The industry now needs not only to communicate, but to engage with an effective strategy towards sustainable shipping.

Sustainability concerns have rocketed up the shipping agenda over the past decade, with environmental, social and corporate governance (ESG) issues already influencing financing decisions, fleet renewal and regulatory change across the industry, according to a survey by Watson Farley & Williams.

Colombo Stock Exchange in collaboration with the Global Reporting Initiative launched the updated version of the publication 'Communicating Sustainability'. The publications aims to assist listed companies effectively integrate Environmental, Social and Governance (ESG) factors in capital market communications.