Navigating the “S” of ESG

Read the full newsletter here.

For the good of the industry, global society and the planet, shipping companies are making much-needed investments in decarbonization and digitalization. This is commendable and will help bring our industry up to the “E” standards required by most nations—if not yet the IMO.

In the process of achieving these benefits, we must also make investments in the “S”, or Social, of sustainability. With COVID, we witnessed the “Great Resignation” in terrestrial based companies that are also having major impacts at sea. Companies are finding it increasingly difficult to recruit adequate numbers of crew for their vessels, and the more arduous routes are at the top of the list. Even near-shore operations are experiencing crew shortages.

People work for many reasons: compensation, working conditions, benefits, and work-life balance. In addition, they want to feel valued and contributors to a common goal. We need to ensure that social needs of employees are being heard.

One of the “S” measurements is equity. With the open publication of company earnings, and the massive profits some companies are making, is that windfall being shared with employees and mariners? Already we are seeing governments push back on the profits being generated by the container lines—are the mariners far behind? How are companies managing this facet in their management structures?

Keep optimizing,
Carleen

Media Contact:
Carleen Lyden Walker

+1.203.255.4686
c.walker@shippinginsight.com

About SHIPPINGInsight

Originally established in 2012, SHIPPINGInsight has grown steadily each year. Focusing on fleet optimization and innovation, the event provides a forum for fleet managers and solution providers to exchange ideas and discuss challenges in facing the transformation of the industry. More than 750 delegates from 35 countries attended the 2021 event, including 121 shipping company executives. For more information, please visit www.shippinginsight.com.

For more information on becoming a partner, contact Rebecca Tribelli at r.tribelli@shippinginsight.com