The demand for organisations across the freight transport spectrum to develop a cogent ESG – Environment, Social, Governance – policy is ever increasing. Leading insurance provider to the sector, TT Club is providing an active toolkit to assist in the development of relevant policies.
London, 23rd April 2024
In collaboration with its Members, partners and service providers, TT has produced a toolkit to assist those it insures meet the complex demands developing ESG policies present. It provides signposts to strategies and solutions to challenges such as emissions calculation, reduction and reporting.
Commenting on the launch of the toolkit TT’s CEO Charles Fenton says, “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.”
“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, ” explains TT’s Managing Director Loss Prevention, Mike Yarwood. “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 components of ESG – Environment, Social, Governance – are well recognised, but what is less well known are the varied implications of applying high and developing standards of business practice in each area.
Support and guidance to help mitigate the environmental impact of operations is a valid start point but knowing what to consider will be starkly different for a freight forwarder, a port or a container terminal. Operations must positively impact local communities wherever possible. However, transport and logistics companies wield significant influence over numerous social factors. From ensuring fair labour practices to promoting diversity and inclusion and to safeguarding employee well-being. What are the best means of ensuring these goals is a question an operator must answer.
Further, the requirements and benefits of good governance are still evolving alongside the rise of ESG. This predates environmental and social risks as a corporate priority but inconsistent developing demands by both international regulators and national governments means transport operators must keep a watchful eye on variable trends.
In all cases TT believes its ESG toolkit provides current, practical guidance to operators .
*Available via this link ESG toolkit (ttclub.com) for free download
About TT Club
TT Club is the established market-leading independent provider of mutual insurance and related risk management services to the international transport and logistics industry. TT Club’s primary objective is to help make the industry safer and more secure. Founded in 1968, the Club has more than 1200 Members, spanning container owners and operators, ports and terminals, and logistics companies, working across maritime, road, rail, and air. TT Club is renowned for its high-quality service, in-depth industry knowledge and enduring Member loyalty. It retains more than 97% of its Members, with a third of its entire membership having chosen to insure with the Club for 20 years or more. www.ttclub.com