Using transparency to drive progress on responsible ship recycling Using Summary transparency of the Initiative to drive and progress how to get on involved responsible ship recycling
2 THE CHALLENGE Ship recycling carries high social, environmental, health and safety risks No effective global regulation nor accepted voluntary standards exist to ensure a consistent approach Different approaches mean that good practice does not always get rewarded and bad practice can often go unchecked Few business incentives for shipowners to take responsibility for the entire lifecycle of their vessels and to be proactive in changing the existing industry narrative THE OPPORTUNITY Being transparent about shipowners ship recycling policies and practices will create fair competition, improve performance and hold the shipping industry to account for their vessels - from cradle to grave Ship recycling transparency will help investors, cargo owners and other stakeholders be accountable for their supply chain
3 STRATEGY Increased transparency will raise the profile of ship recycling and the need for shipowners to take responsibility for their vessels, from cradle to grave create fair competition hold the maritime industry to account protect interests of industry stakeholders increase pressure on underperformers expand responsible ship recycling options OBJECTIVES improve transparency in the ship recycling value chain increase disclosure of ship recycling policies and practices enable and encourage cargo owners, financial stakeholders and others to make informed decisions that will in turn drive improved performance create a level playing field for shipowners, covering the lifespan of a ship
4 WHAT IS THE SRTI? The SRTI aims to accelerate a voluntary market-driven approach to responsible ship recycling practices through transparency throughout a vessel s entire lifecycle; and subsequently to influence and improve decision-making about ship recycling, creating an industry-wide level playing field. The SRTI works through an online platform for sharing information on ship recycling. Shipowners submit data on their approaches to ship recycling; cargo owners and financial stakeholders use this data to make more informed decisions. The SRTI is not a performance standard nor a rating exercise not a performance standard nor a rating exercise; neither will it rank nor assess individual ship-owners policies and practices. Our vision is of a world where ships are recycled responsibly socially, environmentally and economically meeting and going beyond international conventions and norms.
5 SRTI STEERING GROUP RECENT SIGNATORIES An independent initiative Shipowners Shipowners hosted by the Sustainable Shipping Initiative, the SRTI Cargo owners reflects a collective effort that brings together the shipping industry, investors, cargo owners and broader stakeholders to WHO IS INVOLVED? Financial stakeholders Financial stakeholders improve ship recycling policy, practice and performance. The SRTI is an open initiative and we invite you to join the growing SRTI community. Classification societies & other stakeholders Classification societies & other stakeholders
6 SRTI 2019 REPORT The first SRTI report was launched at the Tradewinds Ship Recycling Forum (Hong Kong, March 2019).
7 18 companies signed up to the SRTI in the three months following the online platform going live 1,800+ vessels are operated by shipowners disclosing data via the SRTI online platform SRTI ANNUAL REPORT
8 SRTI ONLINE PLATFORM Analytics 2,152 users as at 31 March 2019 569 users/month average Top 10 countries: 1. USA 2. UK 3. Germany 4. Norway 5. Netherlands 6. Denmark 7. Canada 8. India 9. Singapore 10. Japan 60+ articles on the SRTI published in the media (December 2018 March 2019) 80% in shipping trade media SRTI online platform go-live 3,000 LinkedIn impressions 5,400 Twitter impressions AWARDS Shortlisted for 2019 Green4Sea Initiative Award 2019 BusinessGreen Award
9 MEDIA Hansa Online (April 2019) Renewable Matter (March-April 2019) Waste Management World (8 March 2019) World Maritime News (6 March 2019) Tradewinds (6 March 2019) BusinessGreen (6 March 2019) Safety4Sea (14 February 2019) Maritime Risk International (11 February 2019) Inside Marine magazine (23 January 2019) Global Maritime Forum (January 2019) Gard Insights (13 December 2018) industry insiders are clear that pressure on the sector to improve its record and reputation on handling ships at the end of their life is only going to increase, and as such the SRTI is widely tipped to grow significantly in the coming years. BusinessGreen
10 SIGN UP TO THE SRTI Shipowners sign up by sharing information on their approach to ship recycling by completing the disclosure questionnaire and submitting their data online. Cargo owners and financial stakeholders sign up by submitting their details via the SRTI online platform. www.shiprecyclingtransparency.org srti@ssi2040.org @SustShipping #shiprecyclingtransparency