Tag: Environmental Social Governance (ESG)

A new study by University of Cambridge students and DNV finds companies are leveraging ESG policies to strengthen business performance, despite regulatory uncertainty. 

PCL and SMF signed an agreement on 26 May to renew both organizations’ commitment in building a maritime talent development pool.

The path to ESG maturity involves more than regulatory compliance; it calls for sustained commitment and cultural transformation. In recent years, numerous maritime companies have introduced ESG initiatives and begun embedding these principles into their operations.

The Global Maritime Forum has published its first-ever Impact Report, detailing the organisation’s contributions to shaping a greener, fairer, and more resilient maritime industry in 2024. 

Shipowners and operators are under pressure to validate their suppliers’ performance and can lower costs and save time in the process, writes Paul Stanley, CEO, Achilles.  

As the maritime industry navigates an era defined by sustainability, digital transformation, and evolving workforce values, Environmental, Social, and Governance (ESG) performance has become a powerful driver—not only for business credibility but also for attracting top-tier talent.

As the maritime industry charts its course through the unrelenting tides of climate change, regulatory transformation, and stakeholder expectations, ESG reporting has emerged as a critical compass.

Lars Lange, Secretary General of the International Union of Marine Insurance (IUMI), emphasises that while the environmental aspect of ESG has received most of the attention, there are other pressing issues that also deserve focus. To address this, IUMI maintains an "ESG Watchlist" to ensure that critical topics are not overlooked.

Ram Ganesh Kamatham, Head of Programmes at the Sustainable Shipping Initiative (SSI) emphasizes the vital importance of ensuring a just transition for the maritime workforce—one that is equitable and supports livelihoods while advancing the decarbonization of the sector. He also highlights that an inclusive and diverse workforce is essential for the long-term resilience of the industry.

Jesse Fahnestock, Director of Decarbonisation at the Global Maritime Forum (GMF), emphasizes that the green transition comes with significant challenges. He stresses the importance of ensuring that lower-income countries are not left behind in the shift to cleaner energy.