ESG Reporting

Increasing regulatory focus on the reporting of non-financial and ESG-linked information is starting to affect tanker companies both directly and indirectly through requirements on financial institutions and charterers. The European Union is leading a number of sustainability and corporate governance initiatives which will eventually impact INTERTANKO’s Members. These include but are not limited to the Taxonomy Regulation and the Corporate Sustainability Reporting Directive.

This has led to an increasing number of INTERTANKO’s Members developing long-term sustainability strategies based on the environmental, social and governance (ESG) principles. INTERTANKO will provide guidance to Members in developing ESG Reporting and sustainability policies. In so doing, it will endeavour to establish an ESG Reporting framework that is specific to the tanker industry. As experience with and an understanding of the main ESG Reporting principles grows within the Membership, then the establishment of more detailed tanker-sector Standards may be considered in the future.

INTERTANKO will actively engage with regulatory authorities and third-party stakeholders on ESG Reporting with a view to sharing information with the Membership and assessing and influencing the technical, practical and commercial implications of any mandatory requirements and industry-led initiatives that have a direct impact on INTERTANKO’s Members.