ESG Playbook For Shipping Co-developed By BCG And Mærsk Mc-Kinney Møller

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Today, Boston Consulting Group (BCG) and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping launch the ESG Playbook for Shipping. The Playbook combines BCG’s globally recognized expertise in consulting services with the Center for Zero Carbon Shipping’s industry leading research capabilities in maritime decarbonization to empower shipping companies with the tools to navigate the ESG landscape and develop future-proof ESG strategies.

Sustainable Growth

Speaking on the launch of the Playbook, Bo Cerup-Simonsen, Chief Executive Officer at Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, said: “We have co-developed this playbook with BCG to provide guidance and support to ship owners across segments on creating focused, actionable, and ambitious ESG strategies. ESG compliance can drive commitment and action towards decarbonization and help shipping companies meet the rising request from customers and investors to deliver on environmental, social and governmental practices…”

Peter Jameson, Partner and BCG’s global lead on maritime sustainability and decarbonization, added: “The ESG Playbook will help shipping companies create clarity about where to start and how ESG can create sustainable growth in the industry. Those who do not act are leaving value on the table and will face mounting pressure from the entire shipping ecosystem, including customers and regulators, to act…”

Changing Landscape

The shipping industry contributes 3% of worldwide greenhouse gas emissions, equivalent to the annual CO2 emissions of Germany, the sixth biggest emitter by country. A fact that underlines the vital need to change. The challenges are evident in the numbers: only 46% of the largest shipping companies have made pledges in line with IMO or net-zero commitments. In addition, there is limited sustainability reporting of ESG metrics—only 41% have GHG and sustainability reporting compared with 56% in the oil and gas industry.  The business landscape is rapidly changing on ESG. New regulations have been passed such as the inclusion of shipping in the EU’s Emission Trading Scheme (ETS), the IMO’s EEXI and CII ratings, and CARD-mandatory ESG disclosures. Customers are increasingly willing to pay a green premium and many investors are looking to divest from carbon intensive assets without a clear decarbonization strategy.

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Source: Futurefuels