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ESG in Shipping

ESG stands for:

E – Environmental
S – Social
G – Governance

It is a framework used to measure a company’s sustainability, ethical performance, and long-term risk management.

1️⃣ Environmental (E)

Focuses on:

  • Carbon emissions (CO₂, methane)

  • Energy efficiency

  • Pollution prevention

  • Waste management

  • Compliance with IMO regulations

In shipping, this links to:

  • EEXI & CII compliance

  • Alternative fuels (LNG, methanol, ammonia)

  • Ballast Water Management

  • MARPOL compliance under the International Maritime Organization

2️⃣ Social (S)

Focuses on:

  • Crew welfare

  • Safety standards

  • Working conditions

  • Diversity & inclusion

  • Community impact

Linked to:

  • Maritime Labour Convention

  • Training & safety culture

  • Accident prevention

3️⃣ Governance (G)

Focuses on:

  • Ethical business practices

  • Anti-corruption policies

  • Transparent reporting

  • Regulatory compliance

  • Board accountability

In shipping:

  • ISM Code compliance

  • Anti-bribery measures

  • Accurate reporting of emissions

🔹 Why ESG is Important in Shipping

  • Investors now prefer companies with strong ESG performance

  • Banks follow Poseidon Principles

  • Charterers prefer low-carbon vessels

  • Affects ship financing & insurance

🔹 Role of Chief Engineer (MEO Perspective)

  • Maintain fuel efficiency

  • Reduce emissions

  • Prevent pollution

  • Ensure proper record keeping

  • Follow safety management system

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