Idwal introduces groundbreaking Vessel-level ESG report
(Posted on 21/06/23)
Idwal, a leading provider of maritime intelligence and inspection services, has announced the launch of its pioneering vessel-level Environmental, Social, and Governance (ESG) report. This groundbreaking report offers visibility into the ESG performance of an individual asset, including how corporate principles translate into on-board understanding and adherence, establishing a new industry standard for assessing and monitoring ESG strategies at a granular level.
Idwal has developed the ESG standard over the last year, based on industry regulations, current best practices and through its unique experience of independently inspecting more than 3000 ships per annum, and has since perfected that measure with close partners, including shipping financiers, ship owners, managers and charterers.
By evaluating each category of Environmental (E), Social (S), and Governance (G) factors, and assigning grades to each group, the report offers valuable clarity into specific points and, as with all Idwal ship inspection reports, the Idwal ESG report can provide benchmarking and context across a company or in relation to the world fleet.
Commenting on the significance of this groundbreaking initiative, George Haysom, CCO of Idwal, stated, "Our vessel-level ESG report fills a clear gap in the industry, addressing the growing need for standardised and objective assessments of ESG practices at the asset level. With a clear and concise layout mirroring our existing inspection report structure, our clients will find it easy to follow and utilise.
“The report can assist with corporate reporting requirements and is a powerful tool for ESG officers, so we believe that it represents a significant step forward in the visibility of the maritime industry’s commitment to sustainability and responsible business practices.”
By reducing subjectivity and enhancing standardisation, the report helps shipping companies effectively manage their ESG risks and bolster their reputation in the eyes of stakeholders. It represents a significant step forward in the visibility of the maritime industry's commitment to sustainability and responsible business practices and leads to greater transparency, accountability and success.
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