Sustainability in yachting is an issue that can no longer be ignored; who cares, wins.
That’s the message from Blue ESG founder, Captain Nigel Marrison.
During a long career at sea, with much of it spent captaining luxury yachts, Captain Marrison became increasingly disillusioned with an industry that seemed to have turned a blind eye to the environmental catastrophe unfolding around it. He decided something had to be done, and his answer is Blue ESG.
Blue ESG’s mission is to rapidly usher yachting into a new era of decreased environmental impact and increased societal responsibility. Blue ESG provides a framework for yacht operational governance which not only reduces its carbon footprint, but also identifies and measures the value it offers crew, communities and cruising destinations. “We want to help yachting to have a meaningful impact and create positive value for all stakeholders, including people, the planet and the economy,” said Captain Marrison.
Blue ESG finds itself in good company, with peers that include the Water Revolution Foundation and SEA Index. We spoke to Captain Marrison as well as representatives from both other organisations, to find out how they are taking the yachting industry into a new era of sustainability, and environmental responsibility, and why their mission matters.
What is ESG?
ESG is short for Environmental, Social and Governance. According to McKinsey, ESG is a means by which to measure a company’s environmental and social impact on the world.
Environmental criteria measure the company’s ecological footprint or impact, social criteria measure the company’s relationships with its own people and the communities around it, and governance accounts for the company’s self-management. That includes aspects such as executive pay, decision-making, and regulatory compliance. In sum, the purpose of ESG is to generate value for all organisational stakeholders - such as employees, customers and financiers or suppliers.