ESG Network: members reflect on how a changing political landscape has impacted their strategies

The 9th meeting of the ESG Network which took place on 2 December 2025 looked back at the various discussions and debates held over the past two and a half years to get a sense of whether approaches to ESG and priorities had changed across member companies. Outcomes from the discussions were then used to set the network’s agenda and topics for the coming year. 

The meeting began by asking network members to comment on whether they felt their approaches to ESG had changed over the past two and half years. In the most part all elements of ESG have become more important- even in the light of global developments and pushback from some states and organisations. The members presented at the meeting, representing 19 shipping companies noted that:

• Avoiding claims of greenwashing has become more important
• Adapting to evolving international initiatives and regulations has primarily remained the same but to some become less important
• Meeting decarbonisation and carbon management targets has become more important
• Responding to shippers’ ESG information requests has become more important for most – but for a handful stayed the same but some less
• Collecting and standardizing ESG data across company siloes has become more important for around half the participants as has validation of data
• Integrating crew welfare and social factors has become more important 

Members reflected on how the early work of the network (2022 to 2023) had focussed primarily on ESG strategies, reporting challenges, and benchmarking within the shipping sector. With topics from data validation, greenwashing risks, integrating crew welfare, the influence of international initiatives (eg UN SDGs), carbon management, and the need for shipping-specific ESG standards all discussed during this period.  

Focus towards the end of 2023 then shifted to standardising ESG reporting which took place amid a proliferation of frameworks and regulatory requirements. During this period members had expressed concern over the administration burden arising from numerous ESG questionnaires and the lack of a global level playing field, especially regarding social factors. The need for streamlined data collection, stakeholder buy-in, and support for measuring/reporting ESG data was emphasised.

Moving into 2024 the members reflected on how attention had turned to supply chain due diligence and the complexities of accounting for Scope 3 GHG emissions. In 2024 guest speakers had provided insights on how to get started and the effectiveness of the different methods of counting.  The network then looked towards the social side of ESG – looking at human rights, crew wellbeing, and diversity, equality, equity and inclusion (DEEI). Members noted a gap between the high value placed on human rights reporting and actual implementation and also highlighted the importance of linking wellbeing, safety, and DEEI. 

Finally, the persistent challenges facing the companies were discussed with standardisation and streamlining of data collection still being most challenging with securing stakeholder buy-in seen as the least challenging. 

Industry feelings on the regulatory landscape

Following the reflection session an open and frank discussion was held which highlighted a mixed outlook across the maritime sector. While there had been strong momentum at the IMO on global emissions progress has slowed. Regulatory delays were noted to have created uncertainty, leaving investors and fuel suppliers hesitant to commit to future fuels. Without a global framework, concerns among the some of the network members are growing around fragmented regional regulation with the network noting that existing rules will remain in place until global standards are agreed.  But for now the industry is in a holding pattern—committed to decarbonisation yet cautious on next steps. 

In addition, there was some concern raised that the uncertainty would make it more challenging to look at the future workforce and to ensure a just transition with seafarers at the heart. 

Investment and operational challenges

The network noted that EU initiatives are signalling renewed investment, but other areas, including shipbuilding, are seeing postponed decisions amid nervousness. One member noted that for those operating smaller vessels they face long timelines before emission reduction rules apply which is frustrating for companies with strict internal targets. More broadly, data management remains a hurdle: collecting, validating, and benchmarking ESG metrics is complicated, with current commercially available platforms often poorly suited to the needs of the shipping industry. And integrating ESG data with financial reporting and investor requirements is still a challenge.

ESG progress and reporting trends

Despite some headwinds, ESG commitments continue to grow. Many of the network members are aligning with the EU CSRD requirements which can make reporting easier and more structured. Some members commented that their financial teams increasingly integrate ESG data into their systems and publish sustainability reports alongside annual reports. ESG committees which are established at board level are becoming more common—though approaches vary widely between public and private companies. From an internal perspective technical teams and QHSE departments often lead sustainability efforts, supported by steering committees and senior management.

People and welfare

Seafarer welfare remains a priority for the network members also one commented that ESG as a concept plays a limited role in this. The network members raised concerns persist around the parallel fleets and inconsistent standards. 

Looking ahead

The industry faces a delicate balance: advancing decarbonisation and ESG goals while navigating regulatory uncertainty and operational complexity. While progress can often feel slow, the network members feel the trajectory remains positive.

The ESG network will meet four times in 2026 to explore what a good ESG report looks like, scope emissions reporting, modern slavery and human rights and supply chain due diligence. 

If you are a BIMCO member and would like to get involved in the network, please contact membership@bimco.org