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INTERCARGO ESG REVIEW 2024
CONCLUDING REMARKS BY INTERCARGO’S SECRETARY GENERAL

he evolving Environmental, Social, and Governance (ESG) Moreover, prioritising talent development and fostering
Tagenda is not merely a prerequisite for operating in the a culture of innovation are critical for attracting and
dry bulk shipping industry of the 21st century; it is a roadmap retaining top talent to meet the demands of the future.
for thriving amidst challenges and securing sustainable
success. The present report highlighted key activities and A clear sense of purpose, coupled with robust governance
initiatives of our Association on the ESG front. INTERCARGO structures, is crucial for fostering a sustainable and resilient
and its members take high pride in their work. business model, ultimately striving for stronger, safer, and
more sustainable dry bulk shipping practices. The recent
At the same time, a 2023 report by Woodrow titled 'Navigating launch by INTERCARGO and RightShip of the Dry Bulk
ESG risks in the Maritime Sector’ underscored significant Centre of Excellence (DBCE) has been a pivotal initiative
ESG risks in the maritime industry, as well as transparency aimed at fostering excellence in governance in our sector.
issues. While the industry is acknowledged for its advanced Operating independently on a non-profit basis, DBCE will
risk management practices, it is also seen as more exposed oversee the administration of the Dry Bulk Management
and riskier compared to others. Substantial communication Standard (DryBMS). DBCE’s aim is to empower ship owners
shortcomings contribute to scepticism regarding its and managers to assess and enhance their performance
commitment to ESG expectations. Overall, the maritime against the DryBMS framework.
industry's traditional and slow-to-adapt nature were identified
as exacerbating relevant challenges, particularly within the In summary, dry bulk shipping should embrace the ESG
ship owning and maritime technology sectors, necessitating agenda as a catalyst for innovation, resilience, and long-term
proactive measures to enhance transparency and credibility. success and to effectively communicate dry bulk shipping’s
impact and commitment to sustainability. By proactively
In light of such perceptions, a forward-looking attitude is addressing environmental and
certainly required when addressing key aspects shaping social challenges, fostering
the future of maritime operations and the dry bulk shipping robust governance practices,
sector more particularly. and embracing a purpose-
driven culture, our sector can
Seafarers' well-being tops the list of our priorities. Ensuring navigate the present and future
their safety and welfare is imperative for our sector’s future. complexities, while charting
People remain the cornerstone of our business model a course toward sustainable
and success. Workers’ safety and wellbeing, alongside prosperity for societies around
environmental impacts and technological disruptions, are the world.
the biggest risk factors. Decarbonisation stands out as
a paramount environmental challenge, alongside other Kostas G. Gkonis, PhD
ones such as waste management, hazardous materials INTERCARGO Secretary General
disposal, and ballast water impacts. While technological
uncertainties persist, embracing innovation is essential. April 2024

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