By 2022 we have reached 34 regulatory bodies and standard setters in 12 markets for ESG-reporting - TCFD, SFDR, NGFS etc. All of these climate-related disclosures are mostly focused on core corporate metrics, like greenhouse-gas emissions, and on some common parameters for climate-risk analysis. The main differences in climate-disclosure requirements are in uniformity of reporting and timing.
The maritime's environmental regulation is less mature than other transportation sub-segments. Global shipping's fragmentation, manual reporting processes along with the heavy debt burden and low margins, lead to the lack of credible data or even an absence of any ESG metrics for cargo owners – large and medium size business, logistic and insurance companies, sustainability strategy consultants.
Meanwhile, the IMO's GHG strategy for shipping requires the industry to reduce total annual GHG emissions by at least 50% by 2050. At the same time, the new rules* on corporate sustainability reporting (CSRD) have been agreed between the Council and the EU Parliament in June, 2022, and the German Supply Chain Due Diligence Act
will enter into force in 2023. Tightening the screws regulators are forcing companies to search for innovative solutions that could help businesses to calculate CO2
in Scope 3, measure supply chains effectiveness and build tailored decarbonization plans.
As companies discover how much their suppliers emit, it could become a milestone for climate mitigation in supply chains. The main recommendation that we at Marine Digital can give any company – either it's a corporate business or fleet operators: to search for accurate and trusted sources of data, not averages, if you are interested to measure the entire impact of the business and build the sustainability strategy based in these analytics.
To learn more about the Marine Digital ESG Solution for monitoring maritime supply chains performance, high accuracy analytics of CO2 emissions, and advanced assessment of environmental and economic risks for business sustainability, please visit this page