Sustainable Shipping. Opportunities beyond compliance
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Sustainable Shipping. Opportunities beyond compliance

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This presentation was given at Det norske Veritas (DNV) headquarters for a seminar arranged by YoungShip and young professionals at DNV. My introduction was given in a joint session with Elisabeth......

This presentation was given at Det norske Veritas (DNV) headquarters for a seminar arranged by YoungShip and young professionals at DNV. My introduction was given in a joint session with Elisabeth Grieg, part-owner of the Grieg Group and former President of the Norweigan Shipowner's Association.

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  • 1. Sustainable ShippingOpportunities beyond Compliance Presentation for YoungShip Environmental Seminar 2013 By David Hansen, Practice Director of Corporate Responsibility & Sustainability 07.02.2013
  • 2. 307.02.2013
  • 3. 5 Mega trends Individualisation Democratisation Globalisation Immediacy of Media Transparency & Big data Power of the Public07.02.2013
  • 4. 6 Sustainability trends Reporting  Standardisation and integration  «Live reporting» and dialogue Integrated thinking:  From projects to core business  From «side shows» to integrated thinking  From operational gains to strategic innovation Reciprocity:  Transparency, accountability and shared value07.02.2013
  • 5. Corporate Responsibility 360 MARKET / ENVIRONMENT INDUSTRY Company/ organisation WORKPLACE SOCIETYBusiness in the Community (UK)segmentation 07.02.2013
  • 6. Three kinds of accountability 8 Horizontal Vertical Societal07.02.2013
  • 7. CSR Reporting: It’s all about materiality 907.02.2013
  • 8. Three concepts to prioritise materiality 10A. The potential for sustainability factors to cause substantial disruption, either positive or negative, to social and environmental systems. The greater the potential for disruption the more material the sustainability factor will be.B. The degree of uncertainty involved in the potential impacts on social and environmental systems of a sustainability factor. The greater the range of uncertainty the more material the sustainability factor is likely to be.C. The length of time over which a sustainability factor has potentially disruptive impacts. The longer the period of time the more material the sustainability factor is likely to be.07.02.2013
  • 9. Typical mistakes in sustainability reporting 11÷ Incidental. CSR-thinking does not appear to be systematic.÷ Not strategic. Lacking materiality assessment of issues and stakeholders. Hard to see targets or direction.÷ Lacking context and evidence from overall KPIs down to individual ships, service or product lines.÷ Poor connectivity. Useful data is not seen with the objectives or other basis of comparison, the industry / sector.07.02.2013
  • 10. Integrated Reporting 12 Companies can use sustainability efforts to improve their financial performance through integrated reporting, a comprehensive method for reporting value, performance and impact. Financial Performance Integrated Reporting enables companies to view Integrated Integrated financial performance in a Reporting Reporting sustainability context and Website Website sustainability performance inNonfinancial Performance financial context leverages online tools to improve Environmental Impact dialogue and engagement with Social Impact Annual all public Report audiences Governance Impact 07.02.2013
  • 11. Sustainability reporting limitations 13 By neglecting to explore the relationship between financial and nonfinancial performance, many corporate sustainability reports tell only part of the story. Typical Sustainability Report Critical Omissions “Shortened more than 75 What is the overall percent of fleet routes financial impact of these from five days to four” improvements? “Saved more than 1.5 Did the money saved on million gallons of fuel” reduced fuel consumption outweigh the total cost of “Trimmed emissions by the changes to the fleet 20 percent” routes?07.02.2013
  • 12. Five materiality tests 141. Financial impacts and risks implicit in sustainability issues specific to various industries.2. Sustainability-related legal, regulatory, and policy drivers likely to have the greatest implications for the industries.3. Sustainability norms and standards developed by particular industries or broad-based industry watch-dog organizations.4. Stakeholder concerns of a substantial nature, and emerging substantial social and environmental trends in given industries.5. Opportunities for social and environmental innovation specific to each industry.07.02.2013
  • 13. What you measure matters 15 Think audiences and usability. Show relationship between business, risk factors and governance and solutions. Acknowledge expectations and embrace the opportunities that come with transparency.
  • 14. Customised reporting 1607.02.2013
  • 15. Long-term and integrated thinking Integrated report Strategic OperatingCompany Objectives Context, GovernanceOverview and Including and Future and Strategies to Performance Risks and Remune- OutlookBusiness Achieve Oppor- ration Model these tunities Objectives
  • 16. New Norwegian reporting requirements § 3-3c: CR & Sustainability reportingInstruments Actions Results Expectations Certifications Board Director’s liability Styreansvar for alle opplysninger
  • 17. Principles for responsible investment 191. We will incorporate Environmental, Social and Governance (ESG) issues into investment analysis and decision making processes.2. We will be active owners and incorporate ESG issues into our ownership policies and practices.3. We will seek appropriate disclosure on ESG issues by the entities in which we invest.4. We will promote acceptance and implementation of the principles within the investment industry.5. We will work together to enhance our effectiveness in implementing the principles.6. We will each report on our activities and progress towards implementing the principles.07.02.2013
  • 18. Relevance testing your CSR efforts 20Advanced risk management Purpose driven corporate culture Wanted ESG- CSR- position: handling efforts Values and identity07/02/2013
  • 19. Symbolic vs. substantive CSR 21Symbolic Substantive Donations Operational gains: Board committees on Making sure your ESG-issues business reduces its risks and negative impact. Strategic innovation: Making sure your business becomes part of the solution to environmental or social problems.07.02.2013
  • 20. Summary: Getting beyond compliance 22 Embrace the opportunities of transparency Express ambitions, results and risks Enhance integrated thinking Engage in dialogues Example: Identify and communicate yourEconomic, Environmental and Social Profit & Loss.07.02.2013
  • 21. THANK YOUFOR YOUR KINDATTENTION
  • 22. David Hansen Telefon: +47 90523113 e-mail: david@gambit.no Twitter: dhansentwittPractice Director,CR & Sustainability07.02.2013