Asyad Shipping, part of Asyad Group, and Lloyd’s Register (LR) have partnered to deliver the Omani national shipping company’s first ESG (Environmental, Social and Governance) report, in line with the established global reporting frameworks.
Asyad Shipping, which operates a fleet of 85 vessels including gas carriers, very large crude carriers, product tankers and container ships, is one of the first maritime organisations in the Middle East to publish an ESG report. The report focuses on the impact Asyad Shipping has made – in its approach to become a green shipping company – to make ESG the cornerstone of its wider business strategy operations.
Asyad Shipping’s ESG impact includes a variety of programmes focused on decarbonisation, ocean/land health restoration, as well as integrating business operations to promote integrity among the workforces.
Khalil Al Balushi, VP Marine, Asyad Shipping said: “ESG reporting can benefit businesses by enhancing their reputation, providing access to capital, mitigating risks, improving market competitiveness, strengthening stakeholder relations, ensuring regulatory compliance, enhancing social presence and driving innovation and efficiency. These benefits can help align organisations with sustainability goals in an increasingly ESG-conscious environment.”
ESG reporting has become a growing necessity in the shipping sector as environmental concerns, regulatory pressures, and stakeholder demands prompt companies to disclose their performance in areas such as emissions reduction, social responsibility, and corporate governance.
Ambrish Bansal, LR SVP – Business Advisory and consulting, said: “With the growing requirement for organisations to have comprehensive ESG strategies, LR has showcased how it can support its clients as a trusted adviser throughout their sustainability journey, as evidenced through our work with Asyad Shipping.”
Image: Asyad Shiping vessel (source: Lloyd’s Register)
