TISG outlines ESG commitments
The Italian Sea Group details its diverse ESG strategy to reduce current CO2 emissions as well as offset those from 2022…
The Italian Sea Group continues its environmental-social-governance programme (ESG) by means of the installation of photovoltaic plants in the shipyards of Marina di Carrara and La Spezia and the sustainability path of neutralisation of CO2 emissions through the cancellation of carbon credits generated during the 2022 financial year.
Through the installation of photovoltaic systems covering all available surfaces within the yards their entire energy demand in the summer period is almost met, while through the neutralisation of CO2 emissions through the cancellation of carbon credits generated by the VCS 535 – Akocak Hydroelectric Power Plant project in Turkey, the aim is to generate renewable energy from the flowing waters of the Karadere River in the eastern Black Sea region. Among the environmental benefits, the project will reduce 144,681 tonnes of CO2 emissions and feed 257,440 GWh of renewable energy into the grid each year.
“We continue working with dedication and consistency to contribute to a more sustainable economy,” comments Giovanni Costantino, Founder & CEO of The Italian Sea Group. “Fighting against climate change represents a crucial commitment of our business model and is a pillar of the ESG strategy that the Group is bringing forward with strong conviction.”
The carbon offset project that The Italian Sea Group supports is part of the Verra’s VCS Program (Verified Carbon Standard Program) and contributes to four sustainable development goals: affordable and clean energy, decent work and economic growth, climate action and life on land.
Throughout the development of the project, TISG has been assisted by Rete Clima, a no-profit technical organisation supporting companies in their journey towards sustainable governance, decarbonisation, sustainability and reforestation in Italy.
In addition to environmental commitment, other initiatives continue to be implemented to support employees’ well-being, with great attention to training and gender diversity. The Italian Sea Group continues to support its suppliers by guaranteeing simplified access to liquidity and investing in initiatives for the territory.
Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.
2023 growth estimates also remain positive, bucking global trends