A Sustainability Strategy is imperative for Shipping Companies

The Sustainable business practices and their effective implementation have now become the key components for international shipping success. Not only these practices are considered necessary to remain competitive in today’s market but recent studies have shown a correlation between sustainability and financial success.

As shipping moves towards a digitalized, decarbonized future, the expertise retained by each maritime business will start to have a critical impact on sustainability issues and on profitability.

Sustainability Assessment and Reporting

Assessing the current Sustainability status of a Shipping Company and, even more so, creating and implementing a Sustainability Strategy is an important initiative with far-extending implications in everyday business.

Once a shipping company embeds sustainability in its Strategy and everyday practice, it improves critical mediating factors and performance.

Additionally, when it comes to Sustainability reporting, designing which metrics to use when reporting on corporate sustainability performance can be overwhelming for a Shipping Company. With so many options, Companies may end up investing in sustainability disclosures while still not meeting the expectations of regulators, clients, investors, employees or other stakeholders. Sustainability assurance to validate claims made by the businesses is an ubiquitous process, frequently overlooked.

How is it done?

It all starts by defining the key material factors for accomplishing sustainability. Then, follow the aligning with Company’s strategy, policies, practices and performance requirements as well as the adhering to Global reporting frameworks & Standards. KPIs and other targets will be then set before drafting a final report.

How Can Alpha Marine Assist?

Our approach to sustainability reporting starts with working closely with you for the identification of the material issues for the Company and designing or finetuning its strategy. Selection of the reporting standards and alignment of all ESG elements and data templates with global reporting frameworks. The Sustainable shipping Industry roadmap follows afterwards.

 

Working with Alpha Marine on Sustainability Strategy and reporting will:

1. Provide a comfort to the Shipping company on working with the details of ESG strategy, ESG evaluation & management and ESG data organization & collection
2. Help create a solid materiality strategy and ensure its adherence to the global sustainability reporting standards.
3. Establish the links between sustainability and Company’s economic performance and embed the methodology for the assessment of the sustainability strategies’ contribution to the mediating factors which drive financial results.
4. Implement the steps to design and draft a comprehensive sustainability report.