Idwal Unveils Revolutionary ESG Report for Vessels

Published on:
by KnowESG
KnowESG_Idwal ESG report
Image courtesy of Idwal

Idwal, a renowned provider of maritime intelligence and inspection services, has introduced a revolutionary report focused on Environmental, Social, and Governance (ESG) at the vessel level.

This groundbreaking report sets a new industry standard by offering insights into the ESG performance of individual assets and showcasing how corporate principles translate into on-board understanding and adherence.

Over the past year, Idwal has developed this ESG standard through collaboration with shipping financiers, ship owners, managers, and charterers, drawing on industry regulations and best practices.

Leveraging its extensive experience of independently inspecting over 3000 ships annually, Idwal has refined this measure to provide a comprehensive assessment of each category—Environmental (E), Social (S), and Governance (G). By assigning grades to each group, the report delivers clarity on specific points and enables benchmarking and contextual analysis within a company or in relation to the world fleet.

George Haysom, CCO of Idwal, emphasised the significance of this groundbreaking initiative, stating, "Our vessel-level ESG report fills a critical gap in the industry, addressing the increasing need for standardised and objective assessments of ESG practices at the asset level. With its clear and concise layout mirroring our existing inspection report structure, our clients will find it easy to follow and utilise.

"This report serves as a powerful tool for ESG officers, assisting with corporate reporting requirements and signifying a major step forward in promoting sustainability and responsible business practices within the maritime industry."

By reducing subjectivity and promoting standardisation, this report empowers shipping companies to effectively manage ESG risks and enhance their reputation among stakeholders. It not only highlights the maritime industry's commitment to sustainability and responsible practices but also fosters greater transparency, accountability, and overall success.

For more details about Idwal's enhanced service and the ESG report, visit: https://www.idwalmarine.com/esg-report.

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Source: Idwal

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