Air Cargo Prioritises ESG Reporting
The air cargo industry is facing increasing demands for Environmental, Social, and Governance (ESG) reporting from investors, customers, and regulators.
At the IATA World Cargo Symposium (WCS), a sustainability panel chaired by PwC's Frederic Chapelle highlighted the importance of ESG reporting for creating transparency, managing risk, and cost efficiency.
According to Menzies Aviation's head of sustainability, Katy Reid, ESG reporting is essential for managing risks related to environmental impact and ensuring business resilience.
She also emphasised the opportunity ESG reporting provides for demonstrating a company's commitment to sustainability and preempting potential regulatory requirements.
Turkish Airlines' manager of corporate sustainability, Deniz Dastan, noted that ESG reporting is becoming increasingly important as regulatory compliance becomes more complex.
She added that investors and customers are increasingly interested in the environmental and social impact of the companies they deal with, making ESG reporting a crucial tool for building trust.
Markus Flacke, business development director of Lufthansa Industry Solutions, stressed that having a baseline is necessary for improving performance and staying competitive.
He emphasised that companies need to define their baseline to remain innovative and be part of the industry.
Flacke also added that ESG reporting can help identify more energy and cost-efficient ways of operating.
Therefore, companies can reduce their environmental impact and operating costs by implementing ESG reporting.
In summary, ESG reporting is crucial for the air cargo industry to demonstrate its commitment to sustainability, manage risks, comply with regulations, and improve efficiency.
Companies can also use ESG reporting to identify potential cost savings and energy efficiencies, which can ultimately improve their bottom line.
As the world increasingly focuses on sustainability and environmental impact, ESG reporting will likely become even more important in the future.
Companies that embrace ESG reporting now will be well-positioned to meet the demands of investors, customers, and regulators in the years to come.
Source: Air Cargo News
