Bunge, a giant agribusiness shipper, has become the first in its industry to join the Ship Recycling Transparency Initiative (SRTI), a coalition aimed at increasing transparency to create a new norm for responsible ship recycling.
The SRTI uses an online platform to gather information from shipowners on key disclosures related to social and environmental measures, allowing cargo owners and financial stakeholders to make decisions based on companies’ ship recycling reporting and approaches.
“Bunge is focused on building 21st century value chains that are transparent, verified sustainable and create positive impact on the ground,” said Marcio Valentim Moura, director of global logistics for Bunge, and who represents Bunge in the SRTI and its parent organisation, the Sustainable Shipping Initiative. “As a cargo owner, and as the first agribusiness company to join the SRTI, Bunge can provide valuable insight to shipping companies about our logistics and sustainability needs and expectations.”
“The pressure on holding the industry to account for both its practices and performance, as well as its environmental and social impacts, is being driven by like-minded demand side stakeholders such as Bunge,” commented Andrew Stephens, executive director of the Sustainable Shipping Initiative. “The momentum is building: Stakeholders across and beyond the maritime industry – including key cargo owners such as Bunge – are critical to making shipping more sustainable.”
In separate ship recycling news, UK class society Lloyd’s Register has awarded its first statement of compliance with the Hong Kong Convention in India, to Y S Investments (Plot 59). The yard also received independent verification towards the EU Ship Recycling Regulation from Lloyd’s Register.