The selection criteria for the ESG Shipping Awards are designed to evaluate and recognize companies that demonstrate exceptional commitment to sustainability and responsible practices in the shipping industry. The criteria may vary depending on the specific category, but generally the judges are looking for ESG initiatives that are Impactful, Inclusive and Measurable.
When evaluating the impact of initiatives, the judges may consider factors such as:
1. Scale: The extent to which the initiative has been implemented and its potential for scalability. Initiatives that can be replicated or scaled up to have a broader impact are often viewed favorably.
2. Quantifiable Results: The ability to measure and demonstrate the tangible outcomes and benefits of the initiative. This can include reductions in emissions, energy consumption, waste generation, or improvements in employee well-being, community engagement, or governance practices.
3. Innovation: The level of innovation and creativity demonstrated by the initiative. Judges may look for initiatives that introduce new technologies, processes, or approaches to address sustainability challenges in the shipping industry.
4. Stakeholder Engagement: The extent to which the initiative involves collaboration with stakeholders, such as industry partners, local communities, or government entities. Collaborative initiatives often have a greater potential for impact as they leverage collective resources and expertise.
5. Long-Term Sustainability: The sustainability and longevity of the initiative. Judges may consider whether the initiative is part of a broader sustainability strategy and whether there are plans in place to ensure its continued success and impact in the future.
When evaluating initiatives for inclusivity, judges may consider the following factors:
1. Diversity and Equal Opportunities: Initiatives that promote diversity and equal opportunities within the company, ensuring that individuals from different backgrounds, genders, and cultures have equal access to employment, training, and advancement opportunities.
2. Stakeholder Engagement: Initiatives that actively engage and involve stakeholders, including employees, local communities, and other relevant parties, in the planning, implementation, and evaluation of sustainability initiatives. This can include conducting consultations, seeking feedback, and incorporating diverse perspectives into decision-making processes, policies.
3. Accessibility: Initiatives that prioritize accessibility and ensure that all individuals, regardless of physical abilities or limitations, can fully participate and benefit from the initiative. This can include providing accessible facilities, communication materials, and training programs.
4. Inclusive Supply Chain: Initiatives that promote inclusivity within the supply chain by working with suppliers and partners who uphold ethical labor practices, support diversity and inclusion, and prioritize social responsibility.
When evaluating initiatives for measurability, judges may consider the following factors:
1. Key Performance Indicators (KPIs): The initiative should have defined KPIs that align with the goals and objectives of the initiative. These KPIs should be specific, measurable, achievable, relevant, and time-bound (SMART). Examples of KPIs may include reductions in carbon emissions, energy consumption, waste generation, or improvements in employee satisfaction or community engagement.
2. Data Collection and Reporting: The initiative should have a robust data collection and reporting system in place to track progress towards the defined KPIs. This includes collecting relevant data, analyzing it, and reporting on the outcomes achieved. Transparent and accurate reporting is essential for demonstrating the impact of the initiative.
3. Baseline and Target Setting: The initiative should establish a baseline measurement of the current state and set targets for improvement. This allows for tracking progress over time and assessing the effectiveness of the initiative in achieving its intended outcomes.
4. Verification and Certification: Initiatives that have been independently verified or certified by recognized third-party organizations can provide additional credibility and assurance of their measurable outcomes. Verification and certification processes ensure that the reported data and outcomes are accurate and reliable.