Trade and employer association Danish Shipping has launched a new Environmental, Social and Corporate Governance (ESG) Shipping Network to address the pressing need for collaboration and knowledge sharing within the shipping industry regarding sustainability reporting.
Environmental, Social and Corporate Governance is said to be essential for companies to demonstrate their commitment to sustainable and responsible business practices and live up to customer expectations.
With increased attention towards ESG and decarbonization from multiple stakeholders in the shipping industry, there is a clear demand for a fact-based scientific disclosure of companies’ sustainability stories.
Specifically, the new ESG Shipping Network aims to:
At the inaugural meeting of the network, Danish Shipping members Maersk and Clipper shared insights into their work in the ESG field.
“At Clipper we are eager to share our ESG reporting strategy and to promote a culture of knowledge sharing across the shipping industry, as collaboration and transparency are essential to overcoming sustainability challenges in shipping. We are excited to be part of the ESG network and contributing to collective learning and progress alongside our industry peers,” Robert Murray , ESG Finance Manager at Clipper, commented.
EU rules require large companies and listed companies to publish regular reports on the social and environmental risks they face, and on how their activities impact people and the environment.
On January 5, 2023, the Corporate Sustainability Reporting Directive (CSRD) entered into force. The directive sets new and demanding standards for the information that companies must report and disclose on their environmental and social impact. Gradually, the CSRD will be expanded to include more companies.
“At Maersk, sustainability is core to our business model, and we are committed to transparently reporting our progress. Demonstrating tangible progress in ESG is necessary to staying relevant to our customers, which are meeting increasing consumer expectations on ESG and are passing these on to their partners, including Maersk. Thus, our investments in ESG are investments in future-proofing the company,” Frederik Rementorp , Senior ESG Manager at A.P. Moller – Maersk, said.
“We are thrilled to engage with industry members at the Danish Shipping ESG Network and share our insights on navigating the CSRD legislation.”