Video: SRTI Roundtable 2020

The SRTI online roundtable took place on Wednesday 9 September 2020, bringing the ship recycling community together to present the draft expanded shipowner disclosure, and reflect on learnings from the webinar series.

Moderated by Frances House, Deputy Chief Executive at the Institute for Human Rights and Business (IHRB), the event saw a panel of industry experts discuss the importance of transparency in ship recycling.

Panelists:

  • Roger Strevens, VP Global Sustainability, Wallenius Wilhelmsen
  • Jennifer Riley-James, Senior Ship Recycling Specialist, Lloyd’s Register
  • Andreas Brachel, VP Head of Environmental Claims, Gard


Slide deck

The SRTI slide deck contains information about our vision, mission and objectives.

Click here to download

SRTI awarded funding by Engineering X

We are pleased to announce that the Ship Recycling Transparency Initiative has been awarded funding through the Engineering X Safer End of Engineered Life Mission.

Engineering X, an international collaboration founded by the Royal Academy of Engineering and Lloyd’s Register Foundation, has awarded nearly £1 million in grants across six projects with the aim of achieving safer and more sustainable decommissioning and waste disposal.

Photo credit: Wallenius Wilhelmsen

This award will advance the SRTI’s work through the expansion of the existing shipowner disclosure criteria, as well as through the development of a set of criteria to be used by ship recycling facilities to voluntarily and transparently disclose information about their policies and practices.

The funding will further contribute to improvements in the online platform, which will see added functionality including data visualisation, filtering and extraction in the coming months with the goal of improving access, transparency and ease of use of SRTI data for all stakeholders.

We are pleased to work with the Royal Academy of Engineering, Lloyd’s Register Foundation, and other Engineering X awardees to work toward safe and sustainable ship recycling. Through this project, we want to improve transparency across the value chain, encourage stakeholders to use SRTI data, and to level the playing field in ship recycling.

Andrew Stephens, Executive Director
Sustainable Shipping Initiative / Ship Recycling Transparency Initiative

You can read more about how the SRTI is funded here.

This year has been the SRTI engage the ship recycling community through a series of webinars, focusing on three key themes of data and transparency, circular economy, and the role of financial stakeholders, for the further development of the platform.

The SRTI family has grown to 26 signatories this year, including shipowners Altera Infrastructure and Evergreen Marine Corporation, and our first P&I club Gard.


Road to the Roundtable: SRTI's journey through 2020

The Ship Recycling Transparency Initiative (SRTI) brought the global ship recycling community together online through a webinar series that took place between April and June, culminating in an online roundtable event on 9 September 2020.

This year the SRTI has continued to grow with the addition of five new signatories, bringing the total to 26, including our first P&I club Gard as well as shipowners Altera Infrastructure and Evergreen Marine Corporation. In July the SRTI was awarded funding for its further development through the Engineering X Safer End of Engineered Life Mission, an international collaboration founded by the Royal Academy of Engineering and Lloyd’s Register Foundation.

The SRTI webinar series brought together a diverse group of stakeholders beyond those able to travel to a face-to-face event, with strong representation from the shipowner and finance communities (see participant breakdown for each webinar).

Webinar participants’ discussions focused on three key themes: data and transparency; circular economy; and the role of financial stakeholders in responsible ship recycling.

We asked webinar participants to identify the single greatest challenge to address in ship recycling today, with most pointing to the still fragmented regulatory landscape.

Facilitated by SRTI Steering Group member Simon Bennett (General Manager – Sustainable Development at The China Navigation Company), the first webinar focused on how data and transparency can drive responsible ship recycling and resulted in a set of inputs for the expansion of the SRTI’s existing disclosure criteria for shipowners (disclosure questionnaire available online following their presentation at the SRTI roundtable).

The circular economy was the topic of the second webinar, seeking to understand how ship recycling fits in a circular approach to the ship lifecycle. Webinar participants agreed on the need for designing and building a vessel with recycling in mind, as well as on the need for accurate data about components and materials aboard in order to ensure that the practical and monetary value of a vessel can be extracted at end of life.

The third webinar focused on the role of financial stakeholders in responsible ship recycling. The SRTI platform shares voluntarily disclosed data to enable banks, investors and insurance companies to make informed decisions and reward good practice through the market. Facilitated by Søren Larsen, Head of ESG at Nykredit, emphasis was placed on the emerging trend of transparency and disclosure. Participants further highlighted the importance of ESG ratings and standard setting agencies incorporating ship recycling, thus highlighting the issue’s materiality.

Moderated by Frances House, Deputy Chief Executive at the Institute for Human Rights and Business (IHRB), the final roundtable brought the SRTI community together once again to present the draft expanded shipowner disclosure, reflecting on learnings from the webinar series alongside a panel of industry leaders:

  • Roger Strevens, VP Global Sustainability at Wallenius Wilhelmsen
  • Jennifer Riley-James, Senior Ship Recycling Specialist at Lloyd’s Register
  • Andreas Brachel, VP Head of Environmental Claims at Gard

Thank you to all in the SRTI family who have participated and engaged with us throughout this webinar series – from our Steering Group, to our signatories, to collaborators and other interested stakeholders across the industry.

Watch the roundtable recording below:


Evergreen Marine joins the Ship Recycling Transparency Initiative

London, 3 August 2020 – Evergreen Marine Corporation (Taiwan) Ltd. becomes the eleventh shipowner to publicly disclose its approach to ship recycling through the Ship Recycling Transparency Initiative (SRTI) online platform.

In a corporate statement Evergreen said, “We are committed to the planning of a completely sustainable life cycle for our vessels from design, construction, operation and ultimately to decommissioning. As such, we are delighted to join SRTI, through which signatories can share their ship recycling information via an online platform, helping the industry to improve its eco-friendly recycling policies and practices, and to work together in sustaining an ‘ever green’ global environment.”

“We believe transparency is a key driver of change in the ship recycling value chain,” said Andrew Stephens, Executive Director of the Sustainable Shipping Initiative that hosts the SRTI. “We welcome Evergreen Marine to the growing SRTI family that includes like-minded shipowners who are holding themselves to account before key stakeholders, including clients, investors, and the wider public.”

The shipowner, headquartered in Taiwan, is the fifth signatory to join the SRTI in 2020, bringing the total number of signatories to 26.

The SRTI continues its growth and development conducting outreach across and beyond the industry. The recent SRTI webinar series has seen an increasingly diverse range of stakeholders engaging on the topics of data and transparency; circularity; and the role of financial stakeholders in sustainable and responsible ship recycling, in the absence of global regulation.

- ENDS –

 

About the Ship Recycling Transparency Initiative (SRTI)

The Ship Recycling Transparency Initiative (SRTI) is an independent initiative hosted by the Sustainable Shipping Initiative. It reflects a collective effort that brings together the shipping industry, investors, cargo owners and broader stakeholders to improve ship recycling policy, practice and performance. The SRTI adopts a voluntary market-driven approach to sustainable ship recycling practices. As an online platform, it promotes exchange of information on ship recycling practices and guidelines, and helps ensure greater transparency in the maritime sector.

www.shiprecyclingtransparency.org

Follow us on LinkedIn and Twitter (@SustShipping)
#ShipRecyclingTransparency
#ShipRecycling

 

About Evergreen Marine Corporation (Taiwan) Ltd.

Evergreen operates a modern fleet of around 190 container ships with a combined capacity of more than 1.2 million TEU and maintains services across a broad array of trade lanes around the world. Since its establishment, Evergreen has been a global brand which symbolizes innovative, reliable and sustainable global container transportation service. As a committed guardian of the earth, Evergreen will continue with its fleet renewal program, including the ‘green decommissioning’ of old tonnage and employing ever more eco-friendly containerships.


SRTI Disclosure Questionnaire

The SRTI shipowner disclosure questionnaire covers six key areas:

  • Overall ship recycling approach
  • Ship recycling policy and standards
  • Policy for selling owned vessels for further trading
  • Ship recycling contract
  • Inventory of Hazardous Materials (IHM) and ship recycling documentation
  • Implementation of the ship recycling policy and standard

To become an SRTI signatory, shipowners must submit the disclosure questionnaire.

A blank disclosure form is available for shipowners who may go through an internal review and approval process prior to becoming a signatory, or any stakeholders interested in learning more about the criteria against which shipowners disclose data on their ship recycling policies, practices and progress.

Click here to download

2020 Roundtable webinar series

Following the postponement of the Ship Recycling Transparency Initiative (SRTI) in-person roundtable event (March 2020) due to COVID-19, the SRTI community is instead meeting at a series of themed webinars between April and June 2020. Each webinar covers a theme of relevance to the SRTI’s vision and responsible ship recycling: data and transparency, circular economy, and the role of financial stakeholders.

The webinar series forms an important part of the SRTI’s further development, identifying areas for expansion of the disclosure criteria against which shipowners are currently disclosing, and stakeholders’ use of this data. They will also explore common themes and concerns for the potential development of disclosure criteria for ship building yards and ship recycling facilities, to be shared in a final online roundtable event, scheduled to take place September 9.

Webinar 1: Data and transparency

SRTI Steering Group member Simon Bennett, General Manager – Sustainable Development at The China Navigation Company facilitated the first webinar, which focused on the role of data and transparency in driving responsible ship recycling.

35 participants attended the webinar, representing a diverse range of our stakeholder groups and including shipowners, ship recycling facilities, NGOs, financial stakeholders, among others.

Download the summary

Webinar 2: Circular economy

Andrew Stephens, Executive Director and Nicole Rencoret, Head of Communications and Development at the SSI/SRTI Secretariat facilitated this webinar that focused on how the design, building and operation phases of a ship’s lifecycle can contribute to its sustainable and responsible recycling at end of life.

Download the summary

Webinar 3: The role of financial stakeholders

SRTI Steering Group member Søren Larsen, Head of ESG at Nykredit facilitated this webinar on the role of financial stakeholders in responsible ship recycling, focusing on the use of SRTI data and how the information currently being disclosed by shipowners via the SRTI is relevant and useful for investors, lenders, and other data users.

Download the summary

Driving change in ship recycling: Stakeholder perspectives

The Ship Recycling Transparency Initiative has collaborated with Lloyd’s Register and Lloyd’s List on a special edition of the Lloyd’s List Shipping Podcast. Moderated by Lloyd’s List Managing Editor Richard Meade, the podcast brings together industry experts to look at how different maritime stakeholders approach and understand ship recycling. In the past decade, regulatory efforts seeking safer ship demolition have seen many organisations reassess their activities – much has been achieved but there is much more that can be done. Leading players in ship recycling share their insights on what works, what doesn’t, the shift in industry sentiment around recycling and the challenges ahead, with a key focus of the discussion being on the role of data and transparency in driving change.

Listen to the podcast below:

Moderator:

Richard Meade, Managing Editor, Lloyd’s List

Richard is currently responsible for Lloyd’s List agenda-setting output of news and analysis with ambitions to lead the online revolution for valuable business journalism. Richard joined Lloyd’s List in 2006 after jumping ship from the weekly maritime magazine Fairplay where he ran the news and features desk. He took the traditional route into shipping analysis, via a degree in psychology and a two-year stint at the Financial Times Group.

Panelists:

Andrew Stephens, Executive Director, Sustainable Shipping Initiative/Ship Recycling Transparency Initiative

Andrew has a truly international background in the maritime industry, working for leading maritime service providers, in the position of Chief Operating Officer, such as Wilhelmsen Ships Service and Wallem Group, in a career which has seen him working in the UK, UAE, USA, Norway and Hong Kong. He was responsible for leading and managing business transformation, continuous improvement, integration and change management programmes, drive strategic planning and implementation consequently delivering on improved customer satisfaction, business performance and efficiency. After a successful period in both international groups he joined The Sustainable Shipping Initiative in August 2018, where he is responsible for leadership of the Secretariat.

Jennifer Riley-James, Senior Ship Recycling Specialist, Lloyd’s Register

Jennifer is the Senior Ship Recycling Specialist for the Lloyd’s Register Group (LR) responsible for development and management of LR’s ship recycling services, including IHM and end of life. She also represents LR recycling interests on several external bodies. UK based, Jennifer joined LR in 2015 with a background in research, science and policy.

Kristina Kunigenas, Sustainability Manager, NORDEN

Kristina Kunigenas has been working with governance and sustainability-related issues since 2006. Latest as a Sustainability Manager with the shipping company NORDEN (since 2017), working on NORDEN’s sustainability strategy, various policies and initiatives, and several areas of reporting. Before joining NORDEN, Kristina worked at a Danish pension company (PFA) and the Danish Export Credit Agency (EKF). She has also worked in advisory in San Francisco, California.

Roger Charles, Executive Director, Environmental and Social Risk Management

Roger Charles is an Executive Director in the Sustainable Finance team at Standard Chartered in Singapore. In his role, he leads in delivering technical environmental and social expertise to business transactions and client advisory globally, ensuring project financing adheres to international standards on sustainability and best practice. He has in-depth expertise in several sectors including energy, shipping and ship recycling, manufacturing, and agribusiness including forestry and palm oil; With over 20 years’ experience in various roles within the oil and gas industry, his areas of expertise include technical environmental and safety engineering, impact assessment, and corporate sustainability strategy, implementation and assurance. For complete bio, please visit http://linkedin.com/in/rcharlesuk


Altera Infrastructure becomes newest signatory of Ship Recycling Transparency Initiative

London, 24 March 2020 – Today Altera Infrastructure joins the Ship Recycling Transparency Initiative (SRTI). Formerly part of the Teekay group of companies, Altera becomes the tenth shipowner to publicly disclose its approach to ship recycling, bringing the number of SRTI signatories to 24.

Altera continues an active participation in the SRTI Steering Group –previously maintained as part of the Teekay group– collaborating with sustainability peers across the shipping value chain that guides the Initiative’s strategy, positioning and development including The China Navigation Company; Forum for the Future; Hapag-Lloyd; Lloyd’s Register; A.P. Moeller-Maersk; NORDEN; Nykredit, Standard Chartered Bank; Stolt Tankers; and Wallenius Wilhelmsen.

President & CEO Ingvild Sæther said: “Continuing the SRTI membership under our new brand name was a matter of course. We want to take a leading position in the change we all need to be a part of, and we believe openness and transparency are key in achieving this.”

Andrew Stephens, Executive Director of the Sustainable Shipping Initiative which hosts the SRTI, commented: “By publicly disclosing its approach, Altera is not only making clear its commitment to responsible ship recycling; it’s also raising the bar and contributing to a more transparent and accountable maritime industry.”

March has been a busy month for the SRTI, seeing the launch of the 2020 Report as well as the addition of Gard, the first insurer to join the SRTI.

– ENDS –

 

The SRTI 2020 report launched on 4 March at Tradewinds Ship Recycling Forum and is available online here.

 

About the Ship Recycling Transparency Initiative (SRTI)

The Ship Recycling Transparency Initiative (SRTI) is an independent initiative hosted by the Sustainable Shipping Initiative. It reflects a collective effort that brings together the shipping industry, investors, cargo owners and broader stakeholders to improve ship recycling policy, practice and performance. The SRTI adopts a voluntary market-driven approach to sustainable ship recycling practices. As an online platform, it promotes exchange of information on ship recycling practices and guidelines, and helps ensure greater transparency in the maritime sector.

www.shiprecyclingtransparency.org

 

Follow us on LinkedIn and Twitter (@SustShipping)

#ShipRecyclingTransparency

#ShipRecycling

 

About Altera Infrastructure

Altera Infrastructure is a leading global energy infrastructure services group primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of the North Sea, Brazil and the East Coast of Canada.

Altera Infrastructure has over 2000 employees, consolidated assets of approximately $5 billion, comprised of more than 50 offshore assets, including FPSOs, shuttle tankers, towing vessels and a unit for maintenance and safety.


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