NYK becomes first Japanese Shipping Company to participate in Ship Recycling Transparency Initiative

TOKYO : NYK Line has joined the Ship Recycling Transparency Initiative (SRTI), an information disclosure platform hosted by the Sustainable Shipping Initiative (SSI).

SRTI is comprised of leading shipping companies, shippers and financial stakeholders. It aims to promote transparency in ship recycling and provide information to stakeholders by sharing information on the SRTI website about participating shipowners’ recycling policies, practices, and progress.

NYK is the first Japanese shipping company to join the initiative. “Ships contain a large amount of high-quality iron, and appropriate disposal of valuable recyclable resources is important for the realisation of a circular economy,” NYK said.

By participating in the SRTI, NYK stakeholders can be assured that its vessels are being safely and properly recycled, the company said.

Moreover, NYK added that joining the initiative signals the company’s commitment to achieve its environment management targets: to reduce CO2 emissions per ton-kilometre of transport by 50 percent by 2050.

On February 3, NYK released the NYK Group ESG Story, which aims to further integrate ESG into the company’s management strategy and promotes activities that contribute to the achievement of the SDGs (Sustainable Development Goals) through business activities. Promoting transparency in ship recycling through participation in the SRTI reflects the company’s initiative to achieve NYK’s environment management target, which is to reduce CO2 emissions per ton-kilometer of transport by 50% by 2050. To strongly promote ESG management, the NYK Group will encourage new value creation as a sustainable solution provider through a business strategy that includes software innovation.

Source :Heavy Lift