NORWEGIAN classification society DNV has admonished shipping concerns to comply with demands to report their Environmental, Social, and Governance (ESG) status and progress, saying that is more than a matter of compliance, but 'creating trust in your stakeholders'.
'As shipping companies, we are an important part of the value chain for our stakeholders. Particularly for cargo owners and charters. They need our help to reach their ESG targets, and they need us to control and report on our ESG performance,' the DNV statement reported in Hellenic Shipping News Worldwide.
'In addition, regulators, banks, insurers and investors are focusing more and more on managing ESG risks, forcing the maritime industry to show that we have control of our ESG risk exposure,' said the DNV statement.
'Understanding how your company will be impacted by stakeholder expectations and future regulation is essential to manage ESG risks. The increasingly stricter environmental regulations constitute a major risk for shipping stakeholders,' it said.
SeaNews Turkey
'As shipping companies, we are an important part of the value chain for our stakeholders. Particularly for cargo owners and charters. They need our help to reach their ESG targets, and they need us to control and report on our ESG performance,' the DNV statement reported in Hellenic Shipping News Worldwide.
'In addition, regulators, banks, insurers and investors are focusing more and more on managing ESG risks, forcing the maritime industry to show that we have control of our ESG risk exposure,' said the DNV statement.
'Understanding how your company will be impacted by stakeholder expectations and future regulation is essential to manage ESG risks. The increasingly stricter environmental regulations constitute a major risk for shipping stakeholders,' it said.
SeaNews Turkey