The Shipowners’ Club, a mutual P&I marine insurer focused on serving the smaller and specialist vessel sector, has published its first corporate responsibility report.
The report details the club’s corporate responsibility (CR) journey to date and notes the progress the insurer has made in establishing and maintaining an environment, social, and governance (ESG) framework that is integrated into its CR strategy.
Much of the Club’s CR strategy is informed by the ESG framework, such that the mutual insurer divided its report into three sections.
For the environmental aspect, the club undertook a carbon impact assessment. It engaged with experts with the carbon auditing firm OurCarbon to uncover that the club’s global annual operations emit 1,369.65 tonnes of CO2e. Armed with this data, the club said that it would “further engage with its travel partners to understand alternative options that may be available to assist in reducing the club’s impact in the future.” The club also pushed for further decarbonisation through measures such as the development of sustainable policies; liaising with members to keep them informed of the measures the club is taking to towards decarbonisation; and the provision of a dedicated ‘emission reduction’ platform on the club’s website to provide further guidance to members.
The Shipowners’ Club chose to enhance its social responsibility be creating a Wellbeing Programme that aims to offer security, care, and support for staff. The club also provides a 24/7 free, confidential advice service as well as a personal benefit allowance to claim back on things such as wellbeing activities. The club also instituted some learning and development opportunities to support employee development. It was also noted that the club has offered several opportunities for staff to give their feedback on how the business operates, such as the “My Voice” survey in 2021 and its first diversity & inclusion poll.
In terms of governance, the club undertook several measures such as aligning its operational processes with the Global Reporting Initiatives (GRI) and the UN Sustainable Development Goals (SDGs); the development of an internal governance framework through a defined reporting structure, the appointment of a CR director, and formation of a CR advisory committee; and the establishment of the club’s code of conduct.
“Responsibility and accountability have always been at the core of what we do at the Shipowners’ Club,” said The Shipowners’ Club director of loss prevention/corporate responsibility Louise Hall. “Our Corporate Responsibility strategy is the way in which we seek to identify and address the corporate responsibility issues and opportunities we encounter, with the aim of having a more positive impact on our staff, stakeholders, the environment and society at large.”
“We will strive to incorporate and embrace a Corporate Responsibility strategy that focuses on the long-term sustainability of the club while adding value to its business activities for the benefit of our membership,” said The Shipowners’ Club chairman of the association Donald A. MacLeod KC.
The report is available to view on the Shipowners’ Club website.