CSE and WRF present sustainability framework
The Center for Sustainability and Excellence (CSE) in collaboration with the Water Revolution Foundation (WRF) create Sustainability Reporting Guidelines…
The Center for Sustainability and Excellence (CSE) in collaboration with Water Revolution Foundation (WRF) create the Sustainability Reporting Guidelines, a specialised Sustainability Assessment Framework for the Superyacht industry.
This new Framework is aligned with the criteria of the GRI Guidelines (Global Reporting Initiative), UN SDGs (Sustainable Development Goals) and EU legislative directives on Sustainability Reporting. In parallel an online version was created, whose interactivity bares an innovative aspect; it allows professionals to receive feedback on their status in the preparation for official reporting, using criteria and examples that have been chosen to reflect what most companies of this sector are likely to find relevant.
Nikos Avlonas, President of the Centre for Sustainability & Excellence
Nikos Avlonas, President of the Centre for Sustainability & Excellence states: “We are very excited for this brilliant collaboration with WFR in educating the yachting industry towards sustainability & creating practical tools that could make the difference”.
Robert van Tol, Executive Director of the Water Revolution Foundation adds: “Following our successful joint Sustainability-in-practice training course we continuously provide to land-based yachting professionals, Water Revolution Foundation and CSE now launch a set of guidelines to help the yachting sector get started with internal sustainability reporting. These directly serve those who completed the course, but also prepare many of their companies that will face non-financial reporting obligations in the near future”.
SuperyachtNews speaks with Mr Avlonas, to elaborate on the partnership and the role of CSG and sustainability reporting in the superyacht industry.
"The Centre for Sustainability and Excellence (CSE) has had strategic cooperation with WFR since 2019, aiming to provide high-level training to professionals in the Superyacht industry worldwide. As a result of this cooperation, more than 120 professionals from leading companies in the Superyacht industry have been trained so far and gained specialised knowledge that will help them to make a difference in their companies. Additionally, CSE recently created the Sustainability Reporting Guidelines, a specialised Sustainability Assessment Framework for the Superyacht industry to pro-actively get started with internal reporting first, ahead of growing obligations in this respect."
What are the most pressing pieces of legislation that will be the most impactful on the marine/superyacht Sector?
The most pressing pieces of EU legislation especially for the shipyards and other companies operating in the supply chain of the Superyacht industry are related to Carbon Reduction and Sustainability Reporting. Already there is EU legislation that requires mandatory Sustainability Reporting for public companies with more than 500 employees, but this legislation will be replaced with the CSRD legislation in 2023. According to CSRD legislation companies with over 250 employees, they should start reporting on Sustainability Additionally companies should set goals for carbon reduction. In addition to these legislations, the financial sector in Europe will provide financing to companies that meet specific ESG (Environmental, Social Governance) criteria and this means that all companies involved in the supply chain of the Superyacht industry and operating in Europe should comply sooner or later. We believe that the Sustainability Reporting Framework launched at the right time and will help the industry to become more active, improve its compliance and continue access to finance.
Is the superyacht sector moving fast enough to implement sustainability frameworks and standards, as compared to other sectors that you may be involved with?
"Sometimes there seems to be a lack of urgency or sense of responsibility to speed up improvements. We will see over time who comes out strongest. That’s something reporting will make visible to stakeholders, including the media and the wider society."
Keep an eye out for WRF at the new Sustainability Hub at the Monaco Yacht Show 2022. A new initiative designed to act as an incubator for companies that provide innovative or tried-and-true eco-friendly solutions. It will also serve as a platform for budding start-ups working on sustainable alternatives that fit in seamlessly with the yachting world. The exhibition will be located on a 200m² plot in Darse Sud - a tent dedicated purely to nautical equipment and technology.
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