Tag: Environmental Social Governance (ESG)

The Poseidon Principles are now estimated to cover over 50% of the global ship finance portfolio, after DekaBank became the latest Signatory.

WFW experts provide an overview of the Poseidon Principles for Marine Insurance, which entered into force in early May,  with the aim to establish a framework to engage with the shipping industry and support net-zero insurance.

Standardization is an important step forward for ESG integration in shipping, with divergence between regional and global requirements being a critical issue to consider when thinking about implementation of ESG strategies, speakers agreed at the 2022 GREEN4SEA Forum.

During the 2022 GREEN4SEA Virtual Forum, Aishwarya Iyer, ESG Manager, RightShip, analyzed the role of ESG in shipping, and how it can affect the sector. Ms. Iyer highlighted the standards that help promote ESG, also citing the challenges that ESG pose to the maritime sector.

Shipping continued its long-term positive safety trend over the past year but Russia’s invasion of Ukraine, the growing number of costly issues involving larger vessels, crew and port congestion challenges resulting from the shipping boom, and managing challenging decarbonization targets, means there is no room for complacency, according to marine insurer Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2022.

Dr. Kostas G. Gkonis, Director / Secretary General, INTERCARGO highlighted that the Environmental, Social and Governance (ESG) have become the new normal for maritime stakeholders; industry is currently focusing on how to apply a holistic transformation of its operations to address ESG challenges and apply requirements from a monitoring and reporting perspective.

In the latest GREEN4SEA Virtual Forum, the importance of environmental, social, and corporate governance (ESG) was highly stressed. Mr. Konstantinos Papoutsis, Euronav’s Sustainability Manager gave a presentation to touch upon the disclosing of ESG data performance and shipping finance regulation and initiatives taken by the industry and beyond.

The Poseidon Principles for Marine Insurance announced that they are now entering into force, after the number of its Signatories surpassed the threshold of eight, with Navium and AXA XL being the latest Signatories.

DHL Global Forwarding announced that it has neutralized the carbon emissions of all less-than-container load (LCL) ocean freight shipments since January 2021.

DFDS announced its collaboration with ReSea Project to support the fight for an ocean without plastic pollution. Namely, DFDS is committed to actively remove plastic waste from oceans and rivers via its partnership with ReSea Project.