Although we are not obligated to publish an ESG report currently, we believe it is critical to act and make progress in the field of ESG. Currently, the published report is not on future accounting standards yet, but it is a significant step in the right direction for us. Above all, we realise that there is still a lot of work to be done. Within our organisation, we are aware of this, and there is a high level of commitment to our ESG efforts at all levels. We do not see ESG as mandatory, we also see the chances it give to add to a sustainable future.
Why we do it
‘Our objective is to contribute to a sustainable shipping industry by setting the highest standards of environmental, social, and governance practices, to support creating a world of opportunities and wellbeing for generations to come.’
At JR Shipping Group, we are fully committed to ensuring that our operations and decisions align with our dedication to ESG principles. We strive to uphold the highest standards of responsible business conduct, supporting the health, safety, and well-being of our employees, customer relationships, maritime partners, communities, and the environment.
Incorporating ESG into our operational processes presents opportunities for growth. One example is the retrofitting of our ships. By optimizing and improving the efficiency of existing vessels, we can reduce fuel consumption and lower emissions. This allows us to offer our charterers a more sustainable and economically attractive options. For our customers, this means not only reduced operational costs but also the ability to meet the growing demand for environmentally friendly solutions
Our goal is to contribute to a sustainable shipping sector by applying the highest ESG standards, creating opportunities, and promoting well-being for both present and future generations. In addition, we remain committed to developing policies and procedures that support our ESG objectives, regularly reporting on our progress.
SDG
JR Shipping Group is committed to the 17 Sustainable Development Goals (SDGs) of the United Nations (UN). The Sustainable Development Goals, also known as the Global Goals, are a set of seventeen interconnected goals intended to serve as a shared blueprint for peace and prosperity for people and the planet, now and in the future. Of these goals, goals 3 (Good health and well-being) 7 (Affordable and clean energy), 13 (Climate action), and 14 (Life below water) are our main four priorities, but we are trying to influence every of the 17 goals in a positive way.
Materiality
In 2024, we updated our ESG strategy and prioritisation, now grounded in the concept of double materiality. This means we not only assess how our activities impact the environment and society, but also how these factors influence our business. This dual perspective (inside-out & outside-in) highlights both financial materiality and impact-based materiality. The European Sustainability Reporting Standards (ESRS) have introduced more rigorous criteria, providing a standardised approach for conducting and reporting on double materiality. Each topic was assessed for its severity—considering scale, scope, and remediable aspects—as well as its financial implications, including the likelihood of occurrence and potential financial impacts on performance, assets and liabilities, cash flows, access to finance, and cost of capital.
The adoption of double materiality goes beyond mere formality; it represents a deliberate and proactive step forward. Our aim is to align our materiality approach more closely with the upcoming CSRD regulations, leveraging the concrete guidance on double materiality requirements. This step allows us to further examine our impact and the related effects on our business, leading to a reassessment and refinement of our priorities.
Challenges and Ambitions
Environmental
At JR Shipping Group, we recognise that our operations are linked to the health of the planet. Since we are part of the international maritime industry, we feel the responsibility to minimise our environmental footprint and contribute to the sustainability of the ecosystems we rely on. The environmental challenges we face—ranging from climate change and pollution to biodiversity loss—are not just external risks; they are integral to how we operate and define success.
As we navigate the complexities of international shipping, our focus remains on creating a balance between economic growth and environmental responsibility. By integrating environmental considerations into our operational practices, we aim to not only respond to the demands of today but also prepare for the challenges and opportunities of the future. For us, the now known most material challenges are;
- Climate change
- Pollution of environment & ecosystems
- Innovation
Currently we are working on those topics by intensively researching possibilities to reduce our emissions, make our ships’ longevity higher and our influence on the ecosystem smaller. Therefore the earlier mentioned retrofit campaign and also our internal research to the pros and cons of biofuel and how to use it in the most efficient manner positively helps us to reach those ambitions and fight the challenges.
Social
Our corporate responsibility goes beyond minimising our environmental footprint and contributing to the sustainability of the ecosystems we rely on. At JR Shipping Group, our focus is also on people—they are the heart of everything we do. We believe that a committed and empowered workforce is essential to our success, and we are dedicated to providing a safe and inspiring environment where our people can grow, develop, and thrive as a diverse team. Our social responsibility is guided by our DE&I and Human Rights policies, international standards, and the expectations of our key stakeholders.
From an ESG perspective, JR Shipping Group’s material social impacts, both positive and negative, as well as risks and opportunities, are managed through:
- Own workforce & labour rights
- Safety, security, and well-being
- Human capital
- Diversity, Equity and Inclusion
Governance
Our governance framework is designed to uphold the highest standards of integrity. We carefully evaluate our policy decisions through a structured process involving both internal and external stakeholders. Financial transactions are closely monitored and audited by independent firms to ensure transparency and accuracy.
We are committed to frequent and open communication with investors and financiers, maintaining high standards in our financial reporting. Regular audits help us continuously improve our procedures and systems, reinforcing our dedication to honest and trustworthy business practices.
With the Corporate Sustainability Reporting Directive (CSRD) applying to large corporations in 2024 and to us by 2026, we are proactively preparing to meet these new standards. As one of nearly 50,000 companies in the European Union required to disclose their sustainability impacts, we are committed to ensuring our reports not only comply with the latest regulations but also reflect our dedication to sustainable business practices.
At this stage, we are addressing key areas such as building a robust history of performance data, mapping out our entire value chain, and preparing our report for eventual audits. Although our current report reflects our commitment to these new standards, it is not yet fully compliant. However, by taking the necessary time to identify the right KPIs and enhance our internal processes, we are steadily progressing towards full CSRD compliance, ensuring that future reports will meet all requirements and accurately represent our sustainability journey.
This section outlines our governance practices and our approach to stakeholder engagement. By adhering to these principles, we aim to foster trust and contribute positively to both our industry and society.
- Business ethics
- Data ethics
- Sustainable procurement
- Stakeholder engagement
We recognise the importance of the upcoming Corporate Sustainability Reporting Directive (CSRD) reporting standards and are taking proactive steps to ensure that we will be compliant with the new regulations. We kindly invite you to learn more about our ESG ambitions and goals by downloading our report. There are more to follow, and we will keep you updated.
Download Sustainability report 2023 / 2024 JR Shipping Group