TT Club has developed a toolkit in collaboration with its members, partners, and service providers to help insureds address the intricate challenges posed by the formulation of environmental, social, and governance (ESG) policies.
The toolkit offers guidance on approaches and solutions to issues such as the measurement, reduction, and reporting of emissions.
Chief executive Charles Fenton highlighted the importance of the toolkit, saying: “The rapid development of ESG principles presents a challenge to many members, particularly smaller operators.
“Our ESG toolkit is in line with our commitment to providing our members and the sector as a whole with the resources to give insight, educational content, and support in navigating a company’s pathway in this complex area.”
Mike Yarwood, TT’s loss prevention managing director, added: “The toolkit will develop over time to build a resource base of success stories of effective ESG strategies from across the cargo handling and supply chain sectors.
“This series of case studies provide building blocks to guide others in designing and embedding ESG policies and will be augmented as our experiences and those of our members and partners evolve.”
The mutual insurer pointed out that while the ESG framework is widely acknowledged, the specifics of implementing these standards vary significantly across different segments of the transport and logistics sector, such as freight forwarding, ports, or container terminals.
Each operator faces distinct considerations in positively impacting local communities and managing their environmental footprint. Moreover, the evolving landscape of corporate governance poses ongoing challenges.
In TT Club’s view, its ESG toolkit delivers timely, actionable guidance to operators navigating these complex areas.
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