Tag: ESG

Ahead of the IUMI Annual Conference in Chicago, Richard Turner, IUMI President reflects on the lessons learned from the last four years and the new trends highlighting that albeit the volatile background, the marine insurance and reinsurance sector has continued to operate pretty well. 

MSC announced its decision to adjust course around Sri Lanka to keep away its vessels from endangered blue whales in the area, encouraging other shipping lines as well to take a more southerly route south of the official (TSS) shipping lanes.

The International Group of P&I Clubs has published its first Sustainability report, exploring how the Group’s role and current activities align with and support the United Nation’s Sustainable Development Goals (UN SDGs) as well as helping to facilitate global trade.

Activity around environmental, social and governance (ESG) and sustainability issues is increasing as governments and citizens exert pressure on businesses to change their ways for the greater good, says Allianz says in its recent Global Claims Review 2022.

Among the main effects of the COVID-19 pandemic was that it changed radically the industry’s status quo, highlighting working conditions in shipping. Meanwhile, global awareness of the adverse effects of climate change globally has put the environment at the top of the agenda in controversial industries, such as shipping and the energy sector. What are the main issues expected to attract the attention of maritime leaders in the near future?

The Global Centre for Maritime Decarbonisation (GCMD) and the law firm Ashurst have formalised their partnership by signing a Coalition Partnership Agreement, committing to a long-term collaboration to accelerate the maritime industry’s decarbonisation efforts. 

McKinsey published its 2021 ESG Report, presenting a framework that outlines specific ambitions and actions that will enable the world to accelerate sustainable and inclusive growth.

SAFETY4SEA “Shipping ESG500 Survey” sets out an index illustrating the progress that ESG (Environmental, Social, Governance) has made so far within the maritime industry, revealing that industry’s ESG performance stands at 49.1%. With slow but steady steps, the figure shows that the industry is on the right track for embracing ESG strategies.

Materiality Matrix enables an organization to define which ESG (Environmental Social Governance) initiatives are worth to invest in.

Addressing ESG factors can help organizations manage their environmental and social imprint and determine their business risks and opportunities. In addition, the United Nations' Sustainable Development Goals (SDGs) are increasingly being recognized as a beneficial framework for responsible investment as the business world shifts its focus more intensively on ESG.