Shipowners’ Club has published its second Environmental, Social and Governance (ESG) corporate responsibility report (link available at end).
Shipowners’ Club Director of Loss Prevention / Corporate Responsibility Louise Hall said that, while ESG had been an area of importance for Shipowners’ Club for many years, “it was 2019 when the Club really focused its attention on how ESG factors related to our business model as a service provider”.
Hall said that the Club was “pleased to provide this update on what we have learnt and detail the process we have been through over the last reporting period, whilst also acknowledging that, of course, we still have work to do to do as part of our evolving CR strategy.”
Shipowners’ Club CEO Simon Peacock said that “the Shipowners’ Club’s vision is “Ensuring Peace of Mind”. That vision aims to give comfort as to the Club’s service mentality and our ability and willingness to pay our Members’ insured claims. ESG is a subject matter dominating the business landscape at present, with new investments and initiatives developing on a near-daily basis. That vision also aims to reinforce that we stand alongside our Members, with an imperative to provide high quality cover in a mutual ‘at cost’ (not for profit) manner”.
Peacock said that the second CR Report “intends to convey that the Club’s business partners, whether they be Members, brokers, reinsurance partners, solicitors, surveyors, regulators etc, can be confident that they are dealing with a Club that takes its responsibility to wider society seriously and with great care”.
Chairman Donald MacLeod said that “in this second CR Report, we look to update our Membership on the activities that have been undertaken in all three areas of ESG since our last report (2022), building on the core governance foundations that were established and that uphold the Club’s core values, mission and underpinning vision of ‘Ensuring Peace of Mind’.” He added that “even though this is our second CR Report, our journey has only just begun, and as we look to its development, we will continue to be transparent, engage with our stakeholders, and seek opportunities to create value for the benefit of all as we embrace a more sustainable future”.