February 2, 2023
The Green Award Foundation is proud to be involved in the new established international maritime prize, the ESG Shipping Awards. Green Award’s executive director Jan Fransen recently joined the judging committee of the new institution. The first award winners’ ceremony of the ESG Shipping Awards will take place on Tuesday May 30 in Athens, Greece.
The ESG Shipping Awards recognizes the most significant and impactful actions of the shipping industry on the economy, environment, and people. It is a purpose-based initiative aiming to encourage the shipping industry to embrace sustainability as part of their culture and strategy. The ESG Shipping Awards is just launched mid-January under the auspices of the Greek ministry of Maritime Affairs and Insular Policy and the Hellenic Chamber of Shipping. There’re 13 award categories.
ESG stands for Environmental, Social and Governance and refers to the three central factors is measuring the sustainability of an investment. The term is derived from the concept ‘People, Planet and Profits’ (PPP), introduced in the 90s. It states that companies should focus on each of the three Ps and not just ‘Profits’ because the other two elements are equally important for a commercial enterprise to be sustainable. This concept evolved into ESG, which today forms the basis for sustainable and responsible investment.