Industry Report Addresses Financial Model To Make Sustainable Shipping Accessible

London / Singapore, 16 September 2013 /3BL Media/ - The Sustainable Shipping Initiative (SSI), a coalition of shipping leaders from around the world, is about to release an update report on sustainable shipping at its upcoming milestone conference in Singapore on 26 September 2013.

The four SSI workstreams, which will all provide updates in the report and at the industry event in Singapore, are namely in the realms of,

1. Financing sustainability shipping – “Save As You Sail”
2. Energy technology
3. Closed loop materials management (CLMM)
4. Sustainable shipping rating schemes (benchmarking)

The report which focuses specifically on initiatives to finance sustainable shipping and accelerate uptake of technology, discusses the progress of studies made about the following proposed solutions:

• Save As You Sail financial model – a set of financial mechanisms that will give the wider industry faster access to the technology available, and ensure that the most important new innovations are supported.
• Mass uptake of combined voyage optimisation technique – the widespread uptake of step change technologies and operational techniques that will reduce ship energy consumption and dramatically cut greenhouse gas emissions.
• Closed loop materials management work stream – to encourage end-to-end responsibility and accountability for the social and environmental impacts of ship building materials, from the way they are sourced through to construction methods and recycling processes.
• Guidance resource for sustainable shipping ratings schemes – to improve the uptake of beyond-compliance sustainability rating schemes by shipping customers, charterers and other parties.

The report will also outline plans for next steps. Additionally there will be a bank of case studies. These will consist of lessons from leaders with regards to how one can take organisational action towards sustainability.

“These initiatives are just some of SSI’s early efforts in striving to accelerate the process of making shipping more sustainable and to make sustainability the norm,” said Ms Helle Gleie, SSI director. “SSI has encountered weighty challenges but with our members and other industry players really rallying together to be smart and diligent in collaborative efforts, we can speed towards our Vision 2040 goal.”

“It is increasingly recognised by players in the shipping industry that sustainability is an important success factor, others financial and informational barriers, although amongst, still need to be addressed,” said Gust Biesbroeck, head of transportation of SSI-member ABN AMRO. “We believe that the industry will benefit from SSI's efforts, which is why ABN AMRO is keen to be a part of it.”

The full progress report of practical outputs of the four workstreams, report on progress against the 2040 Vision and announcement of future plans for 2013 – 2014 will occur at the upcoming industry event on 26 September 2013 in Singapore. Ship-owners, charterers, operators, shipbuilders, engineers, marine financiers and supply chain managers from around the world will gather at the conference, registration for which is available at ssi2040.org/events/singapore.

About the SSI

The Sustainable Shipping Initiative (SSI) is an ambitious coalition of shipping leaders from around the world, which is taking practical steps to tackle some of the sector’s greatest opportunities and challenges. The group is working to achieve a vision of an industry in which sustainability equals success.

The SSI has been an independent organisation since September 2013. It was started by NGO Forum for the Future and has been led by the NGO’s staff since its inception in 2010. The cross-industry group represents ship owners and charterers, shipbuilders, engineers and service providers, banking, insurance, and classification societies. 21 member organisations are already involved including key industry players such as Maersk Line, Lloyd’s Register, Cargill, DNV, Rio Tinto, Unilever and Wärtsilä. It is the first time the shipping industry has joined forces on such a cooperative global scale to tackle big sustainability issues.

The ultimate goal is to show that collaborative action is possible, and to mobilise support across the industry, demonstrating that shipping can contribute to – and thrive in – a sustainable future.

For more information please visit www.ssi2040.org or follow us at @SustShipping.

About Forum for the Future

Forum for the Future is a global sustainability non-profit which works with business, government and others to solve tricky issues together. We share what we’ve learned so that others can benefit – and act.  Working with pioneering partners, we transform the essential systems of food, energy and finance to secure a more fulfilling life for us and future generations. Forum for the Future has facilitated the first phase of the SSI and has enabled it to become an independent organisation. www.forumforthefuture.org