ESG is a much bigger topic than just GHG emissions explains Tony Foster, CEO and Founder of Marine Capital Ltd, in the most recent of the London Talks series
The ESG Train is going to hit the maritime industry, it is and will remain a matter of self-preservation for the entire industry, according to Mr Foster.
Dealings with institutional investors including pension funds have demonstrated that the subject is moving higher and higher up the agenda to the extent that questionnaires on ESG are used to weed out the lowest scoring investments from alternative asset portfolios.
In his talk, the third in the informative series of London Talks videos available on the London International Shipping Week 2021 website, he said: “Unfortunately, shipping doesn’t tell its story very well, but when it comes to ESG, it’s really important that we, as an industry, explain clearly what we are doing, what the challenges are and how we are addressing them. I can’t stress this highly enough.”
He added that Marine Capital also puts particular emphasis on governance, one aspect of the industry which gets much less coverage but will remain critically important if the industry is going to attract the institutional capital which the market says it needs.
“These may be major challenges, but they are also an opportunity. We must be proactive on all aspects of ESG, which will have to include greater transparency and better governance standards, but we will get there,” he concluded.
To hear more about Tony Foster’s life in shipping, view his London Talks presentation – “Boom bust and everything in between: A life in shipping” – here: https://londoninternationalshippingweek.com/london-talks/
London International Shipping Week 2021 runs from September 13 to 17, 2021. For more information see the dedicated event website: www.londoninternationalshippingweek.com or you can follow us on Twitter @LISWOfficial or #LISW21