Maritime intelligence and inspection services provider Idwal has launched a pioneering vessel-level environmental, social, and governance (ESG) report.
Idwal said that this report offers visibility into the ESG performance of an individual asset, including how corporate principles translate into onboard understanding and adherence.
This, the company believes, will establish a new industry standard for assessing and monitoring ESG strategies at a granular level.
Idwal developed the ESG standard over the last year, based on industry regulations, current best practices, and experience of independently inspecting more than 3,000 ships per annum.
By evaluating each category of environmental, social, and governance factors, and assigning grades to each group, the report offers valuable clarity into specific points and can provide benchmarking and context across a company or in relation to the world fleet.
“Our vessel-level ESG report fills a clear gap in the industry, addressing the growing need for standardised and objective assessments of ESG practices at the asset level. With a clear and concise layout mirroring our existing inspection report structure, our clients will find it easy to follow and utilise,” George Haysom, CCO of Idwal, said.
Idwal also stated that the report would help shipping companies effectively manage their ESG risks and bolster their reputation in the eyes of stakeholders.
In recent company news, Idwal secured an investment from private equity partner LDC to support the development of its proprietary technology platform and expand its global service footprint.
“This, the company believes, will establish a new industry standard for assessing and monitoring ESG strategies at a granular level”.
Pardon?