In the realm of Environmental, Social, and Governance (ESG) criteria, the maritime sector is undergoing a transformative shift towards sustainability. Shipowners are increasingly prioritizing environmentally conscious practices, especially in ship recycling. This article explores how the adoption of circular economy principles and the upcoming Hong Kong Convention (HKC) standards are steering the industry toward eco-friendly ship recycling practices.
HKC Compliance and Eco-Friendly Practices
The Hong Kong Convention (HKC), set to be enacted soon, marks a pivotal moment in ship recycling. Compliant yards, emphasizing meticulous hazardous material management, set the standard for eco-friendly practices. The Inventory of Hazardous Materials (IHM) plays a crucial role in cataloguing and quantifying substances, ensuring safe disposal in collaboration with authorized facilities.
Sustainable Ship Recycling in South Asia
South Asian nations, particularly India, Bangladesh, and Pakistan, are at the forefront of sustainable ship recycling. HKC-compliant facilities in these regions showcase environmentally efficient practices, from cutting and recycling processes to the reduction of carbon emissions. Shipowners now have a definitive opportunity to positively impact the ‘Environment’ pillar of ESG by choosing these sustainable recycling yards.
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Source: GMS
