CINXE.COM

<!doctype html> <html class="no-js" lang="en-GB"> <head> <meta charset="UTF-8"> <title>The Sustainability Imperative - Part 1 - Watson Farley & Williams</title> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1"> <meta name="HandheldFriendly" content="True"> <meta name="MobileOptimized" content="320"> <meta name="apple-mobile-web-app-capable" content="yes"> <meta name="apple-mobile-web-app-status-bar-style" content="black"> <meta http-equiv="X-UA-Compatible" content="IE=edge"> <meta name="format-detection" content="telephone=no"> <meta name="SKYPE_TOOLBAR" content="SKYPE_TOOLBAR_PARSER_COMPATIBLE"> <link rel="apple-touch-icon" sizes="57x57" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/apple-icon-57x57.png"> <link rel="apple-touch-icon" sizes="60x60" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/apple-icon-60x60.png"> <link rel="apple-touch-icon" sizes="72x72" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/apple-icon-72x72.png"> <link rel="apple-touch-icon" sizes="76x76" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/apple-icon-76x76.png"> <link rel="apple-touch-icon" sizes="114x114" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/apple-icon-114x114.png"> <link rel="apple-touch-icon" sizes="120x120" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/apple-icon-120x120.png"> <link rel="apple-touch-icon" sizes="144x144" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/apple-icon-144x144.png"> <link rel="apple-touch-icon" sizes="152x152" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/apple-icon-152x152.png"> <link rel="apple-touch-icon" sizes="180x180" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/apple-icon-180x180.png"> <link rel="icon" type="image/png" sizes="192x192" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/android-icon-36x36.png"> <link rel="icon" type="image/png" sizes="192x192" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/android-icon-48x48.png"> <link rel="icon" type="image/png" sizes="192x192" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/android-icon-72x72.png"> <link rel="icon" type="image/png" sizes="192x192" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/android-icon-96x96.png"> <link rel="icon" type="image/png" sizes="192x192" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/android-icon-144x144.png"> <link rel="icon" type="image/png" sizes="192x192" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/android-icon-192x192.png"> <link rel="icon" type="image/png" sizes="32x32" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/favicon-32x32.png"> <link rel="icon" type="image/png" sizes="96x96" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/favicon-96x96.png"> <link rel="icon" type="image/png" sizes="16x16" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/favicon-16x16.png"> <link rel="manifest" href="https://www.wfw.com/wp-content/themes/wfw/images/favicon/manifest.json"> <meta name="msapplication-TileColor" content="#ffffff"> <meta name="msapplication-TileImage" content="https://www.wfw.com/wp-content/themes/wfw/images/favicon/ms-icon-70x70.png"> <meta name="msapplication-TileImage" content="https://www.wfw.com/wp-content/themes/wfw/images/favicon/ms-icon-144x144.png"> <meta name="msapplication-TileImage" content="https://www.wfw.com/wp-content/themes/wfw/images/favicon/ms-icon-150x150.png"> <meta name="msapplication-TileImage" content="https://www.wfw.com/wp-content/themes/wfw/images/favicon/ms-icon-310x310.png"> <meta name="theme-color" content="#ffffff"> <meta name="referrer" content="no-referrer-when-downgrade"> <style type="text/css"> @font-face{ font-family:"Calibri W06"; src:url("/wp-content/themes/wfw/Fonts/17c31e5c-5784-4ae6-8cec-a6caed2afd3f.woff2") format("woff2"),url("/wp-content/themes/wfw/Fonts/0555dc6b-1bb5-4cdc-8975-756197067e95.woff") format("woff"); font-weight: 400; font-style: normal; font-display: swap; } @font-face{ font-family:"Calibri W06"; src:url("/wp-content/themes/wfw/Fonts/fdf371b8-1ed3-4c8c-a647-5c57f889f586.woff2") format("woff2"),url("/wp-content/themes/wfw/Fonts/42f91b8c-9815-4407-a659-bd79b1104da2.woff") format("woff"); font-weight: 400; font-style: italic; font-display: swap; } @font-face{ font-family:"Calibri W06"; src:url("/wp-content/themes/wfw/Fonts/69222be9-c9d5-4171-b3cd-f4c1697d4e75.woff2") format("woff2"),url("/wp-content/themes/wfw/Fonts/ac71c358-4cfa-4488-a823-3d4a086ab35c.woff") format("woff"); font-weight: 700; font-style: normal; font-display: swap; } @font-face{ font-family:"Calibri W06"; src:url("/wp-content/themes/wfw/Fonts/d3a0bdd1-8fef-4e49-a808-6bf63cc5ffd0.woff2") format("woff2"),url("/wp-content/themes/wfw/Fonts/f29d2fec-cc28-4d35-88a0-7c81385c6e79.woff") format("woff"); font-weight: 700; font-style: italic; } @font-face{ font-family:"Futura W01"; src:url("/wp-content/themes/wfw/Fonts/e17c7943-8db2-4470-9e2a-74a8d01f6776.woff2") format("woff2"),url("/wp-content/themes/wfw/Fonts/6c72b0cb-89a1-4da9-8574-9244967bd9d6.woff") format("woff"); font-weight: 500; font-style: normal; font-display: swap; } </style> <script type="text/javascript"> var MTIProjectId='54fe8e95-c4e4-4fc9-99d3-d3c4e67621f9'; (function() { var mtiTracking = document.createElement('script'); mtiTracking.type='text/javascript'; mtiTracking.async='true'; mtiTracking.src='mtiFontTrackingCode.js'; (document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild( mtiTracking ); })(); </script> <script> window.dataLayer = window.dataLayer || []; function gtag() { dataLayer.push(arguments); } gtag("consent", "default", { ad_user_data: "denied", ad_personalization: "denied", ad_storage: "denied", analytics_storage: "denied", functionality_storage: "denied", personalization_storage: "denied", security_storage: "granted", wait_for_update: 500, }); gtag("set", "ads_data_redaction", true); gtag("set", "url_passthrough", true); </script> <script> (function (w, d, s, l, i) { w[l] = w[l] || []; w[l].push({'gtm.start':new Date().getTime(), event: 'gtm.js'}); var f = d.getElementsByTagName(s)[0], j = d.createElement(s), dl = l !== 'dataLayer' ? '&l=' + l : ''; j.async = true; j.src = 'https://www.googletagmanager.com/gtm.js?id=' + i + dl; f.parentNode.insertBefore(j, f);})( window, document, 'script', 'dataLayer', 'GTM-WPBXG42' ); </script> <meta name='robots' content='index, follow, max-image-preview:large, max-snippet:-1, max-video-preview:-1' />  <meta name="description" content="The Sustainability Imperative: ESG – Reshaping the Funding and Governance of Shipping" /> <link rel="canonical" href="https://www.wfw.com/reports/the-sustainability-imperative-part-1/" /> <meta property="og:locale" content="en_GB" /> <meta property="og:type" content="article" /> <meta property="og:title" content="The Sustainability Imperative - Part 1" /> <meta property="og:description" content="The Sustainability Imperative: ESG – Reshaping the Funding and Governance of Shipping" /> <meta property="og:url" content="https://www.wfw.com/reports/the-sustainability-imperative-part-1/" /> <meta property="og:site_name" content="Watson Farley & Williams" /> <meta property="article:publisher" content="https://www.facebook.com/watsonfarleywilliams" /> <meta property="article:published_time" content="2021-02-23T20:30:13+00:00" /> <meta property="article:modified_time" content="2023-03-23T17:10:40+00:00" /> <meta property="og:image" content="https://www.wfw.com/wp-content/uploads/2021/02/MTL-Website-Feature-Insights-01-v2.jpg" /> <meta property="og:image:width" content="1282" /> <meta property="og:image:height" content="598" /> <meta property="og:image:type" content="image/jpeg" /> <meta name="author" content="realityhouse admin" /> <meta name="twitter:card" content="summary_large_image" /> <meta name="twitter:creator" content="@WFW_LLP" /> <meta name="twitter:site" content="@WFW_LLP" /> <meta name="twitter:label1" content="Written by" /> <meta name="twitter:data1" content="realityhouse admin" />  <link rel='dns-prefetch' href='//hcaptcha.com' /> <script type="text/javascript"> /* <![CDATA[ */ window._wpemojiSettings = {"baseUrl":"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/","ext":".png","svgUrl":"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/svg\/","svgExt":".svg","source":{"concatemoji":"https:\/\/www.wfw.com\/wp-includes\/js\/wp-emoji-release.min.js?ver=6.6.2"}}; /*! This file is auto-generated */ !function(i,n){var o,s,e;function c(e){try{var t={supportTests:e,timestamp:(new Date).valueOf()};sessionStorage.setItem(o,JSON.stringify(t))}catch(e){}}function p(e,t,n){e.clearRect(0,0,e.canvas.width,e.canvas.height),e.fillText(t,0,0);var t=new Uint32Array(e.getImageData(0,0,e.canvas.width,e.canvas.height).data),r=(e.clearRect(0,0,e.canvas.width,e.canvas.height),e.fillText(n,0,0),new Uint32Array(e.getImageData(0,0,e.canvas.width,e.canvas.height).data));return t.every(function(e,t){return e===r[t]})}function u(e,t,n){switch(t){case"flag":return n(e,"\ud83c\udff3\ufe0f\u200d\u26a7\ufe0f","\ud83c\udff3\ufe0f\u200b\u26a7\ufe0f")?!1:!n(e,"\ud83c\uddfa\ud83c\uddf3","\ud83c\uddfa\u200b\ud83c\uddf3")&&!n(e,"\ud83c\udff4\udb40\udc67\udb40\udc62\udb40\udc65\udb40\udc6e\udb40\udc67\udb40\udc7f","\ud83c\udff4\u200b\udb40\udc67\u200b\udb40\udc62\u200b\udb40\udc65\u200b\udb40\udc6e\u200b\udb40\udc67\u200b\udb40\udc7f");case"emoji":return!n(e,"\ud83d\udc26\u200d\u2b1b","\ud83d\udc26\u200b\u2b1b")}return!1}function f(e,t,n){var r="undefined"!=typeof WorkerGlobalScope&&self instanceof WorkerGlobalScope?new OffscreenCanvas(300,150):i.createElement("canvas"),a=r.getContext("2d",{willReadFrequently:!0}),o=(a.textBaseline="top",a.font="600 32px Arial",{});return e.forEach(function(e){o[e]=t(a,e,n)}),o}function t(e){var t=i.createElement("script");t.src=e,t.defer=!0,i.head.appendChild(t)}"undefined"!=typeof Promise&&(o="wpEmojiSettingsSupports",s=["flag","emoji"],n.supports={everything:!0,everythingExceptFlag:!0},e=new Promise(function(e){i.addEventListener("DOMContentLoaded",e,{once:!0})}),new Promise(function(t){var n=function(){try{var e=JSON.parse(sessionStorage.getItem(o));if("object"==typeof e&&"number"==typeof e.timestamp&&(new Date).valueOf()<e.timestamp+604800&&"object"==typeof e.supportTests)return e.supportTests}catch(e){}return null}();if(!n){if("undefined"!=typeof Worker&&"undefined"!=typeof OffscreenCanvas&&"undefined"!=typeof URL&&URL.createObjectURL&&"undefined"!=typeof Blob)try{var e="postMessage("+f.toString()+"("+[JSON.stringify(s),u.toString(),p.toString()].join(",")+"));",r=new Blob([e],{type:"text/javascript"}),a=new Worker(URL.createObjectURL(r),{name:"wpTestEmojiSupports"});return void(a.onmessage=function(e){c(n=e.data),a.terminate(),t(n)})}catch(e){}c(n=f(s,u,p))}t(n)}).then(function(e){for(var t in e)n.supports[t]=e[t],n.supports.everything=n.supports.everything&&n.supports[t],"flag"!==t&&(n.supports.everythingExceptFlag=n.supports.everythingExceptFlag&&n.supports[t]);n.supports.everythingExceptFlag=n.supports.everythingExceptFlag&&!n.supports.flag,n.DOMReady=!1,n.readyCallback=function(){n.DOMReady=!0}}).then(function(){return e}).then(function(){var e;n.supports.everything||(n.readyCallback(),(e=n.source||{}).concatemoji?t(e.concatemoji):e.wpemoji&&e.twemoji&&(t(e.twemoji),t(e.wpemoji)))}))}((window,document),window._wpemojiSettings); /* ]]> */ </script> <style id='wp-emoji-styles-inline-css' type='text/css'> img.wp-smiley, img.emoji { display: inline !important; border: none !important; box-shadow: none !important; height: 1em !important; width: 1em !important; margin: 0 0.07em !important; vertical-align: -0.1em !important; background: none !important; padding: 0 !important; } </style> <style id='global-styles-inline-css' type='text/css'> :root{--wp--preset--aspect-ratio--square: 1;--wp--preset--aspect-ratio--4-3: 4/3;--wp--preset--aspect-ratio--3-4: 3/4;--wp--preset--aspect-ratio--3-2: 3/2;--wp--preset--aspect-ratio--2-3: 2/3;--wp--preset--aspect-ratio--16-9: 16/9;--wp--preset--aspect-ratio--9-16: 9/16;--wp--preset--color--black: #000000;--wp--preset--color--cyan-bluish-gray: #abb8c3;--wp--preset--color--white: #ffffff;--wp--preset--color--pale-pink: #f78da7;--wp--preset--color--vivid-red: #cf2e2e;--wp--preset--color--luminous-vivid-orange: #ff6900;--wp--preset--color--luminous-vivid-amber: #fcb900;--wp--preset--color--light-green-cyan: #7bdcb5;--wp--preset--color--vivid-green-cyan: #00d084;--wp--preset--color--pale-cyan-blue: #8ed1fc;--wp--preset--color--vivid-cyan-blue: #0693e3;--wp--preset--color--vivid-purple: #9b51e0;--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple: linear-gradient(135deg,rgba(6,147,227,1) 0%,rgb(155,81,224) 100%);--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan: linear-gradient(135deg,rgb(122,220,180) 0%,rgb(0,208,130) 100%);--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange: linear-gradient(135deg,rgba(252,185,0,1) 0%,rgba(255,105,0,1) 100%);--wp--preset--gradient--luminous-vivid-orange-to-vivid-red: linear-gradient(135deg,rgba(255,105,0,1) 0%,rgb(207,46,46) 100%);--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray: linear-gradient(135deg,rgb(238,238,238) 0%,rgb(169,184,195) 100%);--wp--preset--gradient--cool-to-warm-spectrum: linear-gradient(135deg,rgb(74,234,220) 0%,rgb(151,120,209) 20%,rgb(207,42,186) 40%,rgb(238,44,130) 60%,rgb(251,105,98) 80%,rgb(254,248,76) 100%);--wp--preset--gradient--blush-light-purple: linear-gradient(135deg,rgb(255,206,236) 0%,rgb(152,150,240) 100%);--wp--preset--gradient--blush-bordeaux: linear-gradient(135deg,rgb(254,205,165) 0%,rgb(254,45,45) 50%,rgb(107,0,62) 100%);--wp--preset--gradient--luminous-dusk: linear-gradient(135deg,rgb(255,203,112) 0%,rgb(199,81,192) 50%,rgb(65,88,208) 100%);--wp--preset--gradient--pale-ocean: linear-gradient(135deg,rgb(255,245,203) 0%,rgb(182,227,212) 50%,rgb(51,167,181) 100%);--wp--preset--gradient--electric-grass: linear-gradient(135deg,rgb(202,248,128) 0%,rgb(113,206,126) 100%);--wp--preset--gradient--midnight: linear-gradient(135deg,rgb(2,3,129) 0%,rgb(40,116,252) 100%);--wp--preset--font-size--small: 13px;--wp--preset--font-size--medium: 20px;--wp--preset--font-size--large: 36px;--wp--preset--font-size--x-large: 42px;--wp--preset--spacing--20: 0.44rem;--wp--preset--spacing--30: 0.67rem;--wp--preset--spacing--40: 1rem;--wp--preset--spacing--50: 1.5rem;--wp--preset--spacing--60: 2.25rem;--wp--preset--spacing--70: 3.38rem;--wp--preset--spacing--80: 5.06rem;--wp--preset--shadow--natural: 6px 6px 9px rgba(0, 0, 0, 0.2);--wp--preset--shadow--deep: 12px 12px 50px rgba(0, 0, 0, 0.4);--wp--preset--shadow--sharp: 6px 6px 0px rgba(0, 0, 0, 0.2);--wp--preset--shadow--outlined: 6px 6px 0px -3px rgba(255, 255, 255, 1), 6px 6px rgba(0, 0, 0, 1);--wp--preset--shadow--crisp: 6px 6px 0px rgba(0, 0, 0, 1);}:where(.is-layout-flex){gap: 0.5em;}:where(.is-layout-grid){gap: 0.5em;}body .is-layout-flex{display: flex;}.is-layout-flex{flex-wrap: wrap;align-items: center;}.is-layout-flex > :is(*, div){margin: 0;}body .is-layout-grid{display: grid;}.is-layout-grid > :is(*, div){margin: 0;}:where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;}:where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;}.has-black-color{color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-color{color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-color{color: var(--wp--preset--color--white) !important;}.has-pale-pink-color{color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-color{color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-color{color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-color{color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-color{color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-color{color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-color{color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-color{color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-color{color: var(--wp--preset--color--vivid-purple) !important;}.has-black-background-color{background-color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-background-color{background-color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-background-color{background-color: var(--wp--preset--color--white) !important;}.has-pale-pink-background-color{background-color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-background-color{background-color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-background-color{background-color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-background-color{background-color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-background-color{background-color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-background-color{background-color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-background-color{background-color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-background-color{background-color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-background-color{background-color: var(--wp--preset--color--vivid-purple) !important;}.has-black-border-color{border-color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-border-color{border-color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-border-color{border-color: var(--wp--preset--color--white) !important;}.has-pale-pink-border-color{border-color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-border-color{border-color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-border-color{border-color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-border-color{border-color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-border-color{border-color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-border-color{border-color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-border-color{border-color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-border-color{border-color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-border-color{border-color: var(--wp--preset--color--vivid-purple) !important;}.has-vivid-cyan-blue-to-vivid-purple-gradient-background{background: var(--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple) !important;}.has-light-green-cyan-to-vivid-green-cyan-gradient-background{background: var(--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan) !important;}.has-luminous-vivid-amber-to-luminous-vivid-orange-gradient-background{background: var(--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange) !important;}.has-luminous-vivid-orange-to-vivid-red-gradient-background{background: var(--wp--preset--gradient--luminous-vivid-orange-to-vivid-red) !important;}.has-very-light-gray-to-cyan-bluish-gray-gradient-background{background: var(--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray) !important;}.has-cool-to-warm-spectrum-gradient-background{background: var(--wp--preset--gradient--cool-to-warm-spectrum) !important;}.has-blush-light-purple-gradient-background{background: var(--wp--preset--gradient--blush-light-purple) !important;}.has-blush-bordeaux-gradient-background{background: var(--wp--preset--gradient--blush-bordeaux) !important;}.has-luminous-dusk-gradient-background{background: var(--wp--preset--gradient--luminous-dusk) !important;}.has-pale-ocean-gradient-background{background: var(--wp--preset--gradient--pale-ocean) !important;}.has-electric-grass-gradient-background{background: var(--wp--preset--gradient--electric-grass) !important;}.has-midnight-gradient-background{background: var(--wp--preset--gradient--midnight) !important;}.has-small-font-size{font-size: var(--wp--preset--font-size--small) !important;}.has-medium-font-size{font-size: var(--wp--preset--font-size--medium) !important;}.has-large-font-size{font-size: var(--wp--preset--font-size--large) !important;}.has-x-large-font-size{font-size: var(--wp--preset--font-size--x-large) !important;} :where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;} :where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;} :root :where(.wp-block-pullquote){font-size: 1.5em;line-height: 1.6;} </style> <link rel='stylesheet' id='contact-form-7-css' href='https://www.wfw.com/wp-content/plugins/contact-form-7/includes/css/styles.css?ver=6.0' media='all' /> <link rel='stylesheet' id='wpcf7-redirect-script-frontend-css' href='https://www.wfw.com/wp-content/plugins/wpcf7-redirect/build/css/wpcf7-redirect-frontend.min.css?ver=1.1' media='all' /> <link rel='stylesheet' id='search-filter-plugin-styles-css' href='https://www.wfw.com/wp-content/plugins/search-filter-pro/public/assets/css/search-filter.min.css?ver=2.5.19' media='all' /> <link rel='stylesheet' id='tjldesigns-css-main-css' href='https://www.wfw.com/wp-content/themes/wfw/style.css?ver=1731919598' media='' /> <link rel='stylesheet' id='tjldesigns-css-aos-css' href='https://www.wfw.com/wp-content/themes/wfw/js/aos.css?ver=1.0' media='all' /> <link rel='stylesheet' id='fancybox-css' href='https://www.wfw.com/wp-content/plugins/easy-fancybox/fancybox/1.5.4/jquery.fancybox.css?ver=1732344899' media='screen' /> <link rel='stylesheet' id='tablepress-default-css' href='https://www.wfw.com/wp-content/tablepress-combined.min.css?ver=530' media='all' /> <link rel='stylesheet' id='tablepress-responsive-tables-css' href='https://www.wfw.com/wp-content/plugins/tablepress-responsive-tables/css/tablepress-responsive.min.css?ver=1.8' media='all' /> <script type="text/javascript" src="https://www.wfw.com/wp-includes/js/jquery/jquery.min.js?ver=3.7.1" id="jquery-core-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-includes/js/jquery/jquery-migrate.min.js?ver=3.4.1" id="jquery-migrate-js"></script> <link rel="https://api.w.org/" href="https://www.wfw.com/wp-json/" /><link rel="alternate" title="JSON" type="application/json" href="https://www.wfw.com/wp-json/wp/v2/posts/18425" /><link rel="alternate" title="oEmbed (JSON)" type="application/json+oembed" href="https://www.wfw.com/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.wfw.com%2Freports%2Fthe-sustainability-imperative-part-1%2F" /> <link rel="alternate" title="oEmbed (XML)" type="text/xml+oembed" href="https://www.wfw.com/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.wfw.com%2Freports%2Fthe-sustainability-imperative-part-1%2F&format=xml" />  <script type="application/ld+json">[{"@context":"http:\/\/schema.org\/","@type":"WPHeader","url":"https:\/\/www.wfw.com\/reports\/the-sustainability-imperative-part-1\/","headline":"The Sustainability Imperative – Part 1","description":"Drawing on a series of in-depth interviews and a global survey of 545 senior industry leaders, our report..."},{"@context":"http:\/\/schema.org\/","@type":"WPFooter","url":"https:\/\/www.wfw.com\/reports\/the-sustainability-imperative-part-1\/","headline":"The Sustainability Imperative – Part 1","description":"Drawing on a series of in-depth interviews and a global survey of 545 senior industry leaders, our report...","copyrightYear":"2021"}]</script>  <script type="application/ld+json">{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","mainEntityOfPage":{"@type":"WebPage","@id":"https:\/\/www.wfw.com\/reports\/the-sustainability-imperative-part-1\/"},"url":"https:\/\/www.wfw.com\/reports\/the-sustainability-imperative-part-1\/","headline":"The Sustainability Imperative - Part 1","datePublished":"2021-02-23T20:30:13+00:00","dateModified":"2023-03-23T17:10:40+00:00","publisher":{"@type":"Organization","@id":"https:\/\/www.wfw.com\/#organization","name":"Watson Farley & Williams","logo":{"@type":"ImageObject","url":"https:\/\/dev2.wfw.temporarywebsiteaddress.com\/wp-content\/uploads\/2019\/07\/logo-wfw.png","width":600,"height":60}},"image":{"@type":"ImageObject","url":"https:\/\/www.wfw.com\/wp-content\/uploads\/2021\/02\/MTL-Website-Feature-Insights-01-v2.jpg","width":1282,"height":598},"articleSection":"Report","keywords":"sustainability imperative, the sustainability imperative, sustainability, sustainable finance, Sustainable shipping","description":"Drawing on a series of in-depth interviews and a global survey of 545 senior industry leaders, our report examines the shipping world’s views on sustainability and governance and what actions it is taking as result.","author":{"@type":"Person","name":"realityhouse admin","url":"https:\/\/www.wfw.com\/author\/rhadmin\/","image":{"@type":"ImageObject","url":"https:\/\/secure.gravatar.com\/avatar\/f1c7d19a1b0aadc093afa0f645cb6926?s=96&d=mm&r=g","height":96,"width":96},"sameAs":["https:\/\/realityhouse.co.uk"]}}</script> <style> .h-captcha{position:relative;display:block;margin-bottom:2rem;padding:0;clear:both}.h-captcha[data-size="normal"]{width:303px;height:78px}.h-captcha[data-size="compact"]{width:164px;height:144px}.h-captcha[data-size="invisible"]{display:none}.h-captcha::before{content:'';display:block;position:absolute;top:0;left:0;background:url(https://www.wfw.com/wp-content/plugins/hcaptcha-for-forms-and-more/assets/images/hcaptcha-div-logo.svg) no-repeat;border:1px solid #fff0;border-radius:4px}.h-captcha[data-size="normal"]::before{width:300px;height:74px;background-position:94% 28%}.h-captcha[data-size="compact"]::before{width:156px;height:136px;background-position:50% 79%}.h-captcha[data-theme="light"]::before,body.is-light-theme .h-captcha[data-theme="auto"]::before,.h-captcha[data-theme="auto"]::before{background-color:#fafafa;border:1px solid #e0e0e0}.h-captcha[data-theme="dark"]::before,body.is-dark-theme .h-captcha[data-theme="auto"]::before,html.wp-dark-mode-active .h-captcha[data-theme="auto"]::before,html.drdt-dark-mode .h-captcha[data-theme="auto"]::before{background-image:url(https://www.wfw.com/wp-content/plugins/hcaptcha-for-forms-and-more/assets/images/hcaptcha-div-logo-white.svg);background-repeat:no-repeat;background-color:#333;border:1px solid #f5f5f5}.h-captcha[data-size="invisible"]::before{display:none}.h-captcha iframe{position:relative}div[style*="z-index: 2147483647"] div[style*="border-width: 11px"][style*="position: absolute"][style*="pointer-events: none"]{border-style:none} </style>  <script type="application/ld+json">{ "@context": "http://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@id": "https://www.wfw.com", "name": "Home" } }, { "@type": "ListItem", "position": 2, "item": { "@id": "https://www.wfw.com/reports/the-sustainability-imperative-part-1/", "name": "The Sustainability Imperative – Part 1", "image": "https://www.wfw.com/wp-content/uploads/2021/02/MTL-Website-Feature-Insights-01-v2.jpg" } } ] }</script> <style> span[data-name="hcap-cf7"] .h-captcha{margin-bottom:0}span[data-name="hcap-cf7"]~input[type="submit"],span[data-name="hcap-cf7"]~button[type="submit"]{margin-top:2rem} </style> <style type="text/css" id="wp-custom-css"> .page-id-30074 .careers_jobs_holder .searchandfilter > ul > li:last-child { float: none; } .dataTables_paginate a { color: #115e67 !important; } p.custom-indent { text-indent:60px; } .postid-38147 #people_left h1 { font: bold 2em/110% 'Calibri W06', Arial, sans-serif; } .postid-38147 #people_right h4 { font-family: 'Calibri W06', Arial, sans-serif; font-size: 1.15em; } @media (max-width: 420px) { .postid-38147 #people_left h1 { font-size: 1.3em; } } </style> <script type="text/plain" data-cookieconsent="statistics"> (function(c,l,a,r,i,t,y){ c[a]=c[a]||function(){(c[a].q=c[a].q||[]).push(arguments)}; t=l.createElement(r);t.async=1;t.src="https://www.clarity.ms/tag/"+i; y=l.getElementsByTagName(r)[0];y.parentNode.insertBefore(t,y); })(window, document, "clarity", "script", "cq3cwbyorb"); </script>  <script type="text/javascript">(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-WPBXG42');</script>  <script type="text/plain" data-cookieconsent="marketing">!function(r){var i=document.createElement("img");i.setAttribute("src","//wfw.vuture.net/security/tracker.gif?referer="+encodeURIComponent(r))}(document.referrer);</script> </head> <body data-rsssl=1 class="post-template-default single single-post postid-18425 single-format-standard the-sustainability-imperative-part-1">  <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-WPBXG42" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>  <div id="mc-overall-wrapper" class="mc-overall-wrapper-report"> <header id="header_main" role="banner" class="header_main_white"> <a href="#" id="menu-expertise" class="menu-icon">Expertise</a> <a href="#" id="menu-main" class="menu-icon">Menu</a> <a href="https://www.wfw.com/" id="logo_wfw">Watson Farley & Williams</a> <form name="search_form" role="search" method="get" class="search_form" action="/search/" autocomplete="off"> <input type="text" class="search_form_text" name="_sf_s" placeholder="Search" id="input_keyword"> <input type="submit" value="Search" class="search_form_submit"> </form> </header> <div id="menu_hide_content"> <section role="main" class="clearfix"> <div id="sector_services_wrapper"> <div id="sector_services_banner_holder" class="sector_services_banner_holder_white"> <div id="sector_services_banner_overflow"><div id="sector_services_banner" class="post_banner_react" style="background-image: url(https://www.wfw.com/wp-content/uploads/2021/02/MTL-Website-Feature-Insights-01-v2.jpg);"></div></div> <div id="sector_services_banner_h1"> <div class="container"> <div id="sector_services_banner_h1_table"> <div id="sector_services_banner_h1_cell" class="sector_services_banner_h1_cell_reports loading"> <h1>The Sustainability Imperative – Part 1</h1> </div> </div> </div> </div> <span class="glide_focus_menu" id="sector_services_meet_team_sticky"><a href="#sector_services_team" id="sector_services_meet_team" class="">Meet the team</a></span> </div> <div class="containerrrrr clearfix"> <div class="post_page_builder post_page_builder_pressssssss clearfix"> <div class="panel_careers_spacer"><div class="container clearfix"><div class="post_left post_left_quote_right"><div class="clearfix"><div class="post_content post_wysiwyg post_content_blank" data-aos="fade-up"> <p>Following the successful launch in February 2021 of our award-winning in-depth report ‘The Sustainability Imperative’, now more than ever we are seeing how the maritime sector is exposed to the impact of global mega-trends such as climate change and the rise in international trade tensions.</p> <p>Exploring how those within the industry – owners, charterers, financiers and investors – grapple with the current and anticipated environmental, social and corporate governance challenges, and what they mean for the industry, forms the basis of our follow-up report.</p> <p>The opinions of circa 500 industry participants have once again been surveyed and we are excited to share these insights with you in our highly anticipated report The Sustainability Imperative – Part 2.</p> <h6>Download our follow up report by clicking on the image below:</h6> <p><a href="https://www.wfw.com/reports/the-sustainability-imperative-part-2/"><img fetchpriority="high" decoding="async" class="alignnone wp-image-33066 size-large" src="https://www.wfw.com/wp-content/uploads/2023/03/WFW-MLT-Part-2-Download-report-2-1024x812.png" alt="" width="770" height="611" srcset="https://www.wfw.com/wp-content/uploads/2023/03/WFW-MLT-Part-2-Download-report-2-1024x812.png 1024w, https://www.wfw.com/wp-content/uploads/2023/03/WFW-MLT-Part-2-Download-report-2-300x238.png 300w, https://www.wfw.com/wp-content/uploads/2023/03/WFW-MLT-Part-2-Download-report-2-768x609.png 768w, https://www.wfw.com/wp-content/uploads/2023/03/WFW-MLT-Part-2-Download-report-2-1536x1218.png 1536w, https://www.wfw.com/wp-content/uploads/2023/03/WFW-MLT-Part-2-Download-report-2-2048x1624.png 2048w" sizes="(max-width: 770px) 100vw, 770px" /></a></p> <h5><strong>The Sustainability Imperative – Part 1</strong></h5> <p><strong>Sustainability concerns have rocketed up the shipping agenda over the past decade, with environmental, social and corporate governance (ESG) issues already influencing financing decisions, fleet renewal and regulatory change across the industry.</strong></p> <p>Decarbonisation of shipping is by far the most complex and pressing area. Most of the focus to date has been on the ‘E’ in ESG, but the ‘S’ (Social) and ‘G’ (Governance) elements also present growing challenges to the industry in areas such as transparency, diversity and crew welfare.</p> <p>Some of these problems are down to simple organisational choices, but the environmental challenge – principally the reduction of CO2 emissions – is too large for any one company, even any one set of stakeholders, to address.</p> <div class="visualizer-front-container" id="chart_wrapper_visualizer-19807-1030017306"><style type="text/css" name="visualizer-custom-css" id="customcss-visualizer-19807">.locker,.locker-loader{position:absolute;top:0;left:0;width:100%;height:100%}.locker{z-index:1000;opacity:.8;background-color:#fff;-ms-filter:"progid:DXImageTransform.Microsoft.Alpha(Opacity=80)";filter:alpha(opacity=80)}.locker-loader{z-index:1001;background:url(https://www.wfw.com/wp-content/plugins/visualizer/images/ajax-loader.gif) no-repeat center center}.dt-button{display:none!important}.visualizer-front-container.visualizer-lazy-render{content-visibility: auto;}.google-visualization-controls-categoryfilter label.google-visualization-controls-label {vertical-align: middle;}.google-visualization-controls-categoryfilter li.goog-inline-block {margin: 0 0.2em;}.google-visualization-controls-categoryfilter li {padding: 0 0.2em;}.visualizer-front-container .dataTables_scrollHeadInner{margin: 0 auto;}</style><div id="visualizer-19807-1030017306" class="visualizer-front visualizer-front-19807"></div></div> <p>There are significant technological, financial and regulatory hurdles to clear before shipping has a viable path towards the International Maritime Organisation’s goal of 50% lower greenhouse gas emissions by 2050, including the recurring question of who shoulders the risk and cost of developing new technologies.</p> <p>In addition, shipping faces structural upheaval. Longstanding pressures on smaller shipowners to consolidate may become difficult to ignore in the pursuit of a sustainable industry, while the privacy traditionally embraced by sections of the industry may come under pressure from demands for greater transparency from investors, lenders, regulators and customers.</p> </div><div class="post_contacts"> <h2 class="h3_styler h3_styler_related h3_styler_mob_cap">KEY CONTACTS</h2> <div class="post_contacts_list clearfix"> <div><article class="article_odd"> <div class="post_contacts_flex clearfix"> <a href="https://www.wfw.com/people/lindsey-keeble/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2019/01/Lindsey-Keeble-1.jpg" alt="Lindsey Keeble"></a> <h3 class="h4_styler"><a href="https://www.wfw.com/people/lindsey-keeble/">Lindsey Keeble</a></h3> </div> <p class="people_left_stats_job">Managing Partner <span>London</span></p> </article></div> <div><article class="article_even"> <div class="post_contacts_flex clearfix"> <a href="https://www.wfw.com/people/george-paleokrassas/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2019/01/George-Paleokrassas-1-1.jpg" alt="George Paleokrassas"></a> <h3 class="h4_styler"><a href="https://www.wfw.com/people/george-paleokrassas/">George Paleokrassas</a></h3> </div> <p class="people_left_stats_job">Senior Partner <span>New York</span></p> </article></div> <div><article class="article_odd article_last"> <div class="post_contacts_flex clearfix"> <a href="https://www.wfw.com/people/simon-petch/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Simon-Petch-1.jpg" alt="Simon Petch"></a> <h3 class="h4_styler"><a href="https://www.wfw.com/people/simon-petch/">Simon Petch</a></h3> </div> <p class="people_left_stats_job">Partner <span>London</span></p> </article></div> </div> </div> </div></div><div class="post_right post_content_quote post_content_quote_right post_content_quote_colour_blue" data-aos="fade-up"><p class="h3_styler">"We decided to focus our global maritime report on the single most important issue affecting the industry – sustainability."<span class="quote_author">George Paleokrassas</span></p></div></div></div><div class="panel_careers_spacer"><div class="container clearfix"><div class="post_left post_left_quote_right"><div class="clearfix"><div class="post_content post_wysiwyg post_content_blank"><div class="post_percentage" data-aos="fade-up"><div class="post_percentage_left"><p class="post_percentage_left_count"><strong class="count">62</strong>%</p></div><div class="post_percentage_right"><p>of shipowners are likely or very likely to form joint ventures to fund innovation in the next five years.</p></div></div><p>Drawing on a series of in-depth interviews and a global survey of 545 senior industry leaders, this report examines the shipping world’s views on sustainability and governance and what actions it is taking as result. It also asks how these issues might affect the way the shipping sector finances itself and even the very structure of the industry.</p> </div></div></div><div class="post_right post_content_quote post_content_quote_right post_content_quote_colour_blue" data-aos="fade-up"><p class="h3_styler">"The survey points to a wider willingness to collaborate and form joint ventures to share the financial burden of decarbonising shipping."<span class="quote_author">Lindsey Keeble</span></p></div></div></div><div class="panel_careers_spacer"><div class="container clearfix"><div class="post_left post_left_quote_right"><div class="clearfix"><div class="post_content post_wysiwyg post_content_blank" data-aos="fade-up"><div class="post_video_holder"><style>.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }</style><div class='embed-container'><iframe width="560" height="315" src="https://www.youtube.com/embed/Bg5CvATg9c8?rel=0" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe></div></div></div></div></div></div></div><div class="panel_careers_spacer"><div class="container clearfix"><div class="post_left"><div class="clearfix"><div class="post_content post_wysiwyg"><div class="post_percentage" data-aos="fade-up"><div class="post_percentage_left"><p class="post_percentage_left_count"><strong class="count">90</strong>%</p></div><div class="post_percentage_right"><p>of financiers are either going beyond standard governance checks, or are planning to do so in the near future.</p></div></div><h5>The report highlights six key findings:</h5> <ol> <li>Reducing carbon emissions is the main and most immediate challenge, though trade tensions, Covid-19 and access to finance are also important;</li> <li>Financiers attach more importance to sustainability issues than operators do;</li> <li>Despite commitment to sustainability, traditional ship finance banks have a limited appetite for funding new clean-technology upgrades themselves – or accommodate their financing by others;</li> <li>Decarbonisation looks set to drive greater cooperation among industry participants;</li> <li>Industry looks to governments to lead the funding of clean technology and fuel research; and</li> <li>Shipowners are wary of committing to many new green technologies.</li> </ol> </div><div class="post_content_quote post_content_quote_left post_content_quote_colour_teal" data-aos="fade-up"><p class="h3_styler h3_styler_small">"There is preference across the board for government support in funding research into alternative fuels and increased efficiencies. That said, public funding for shipping has always been a challenge given the global nature of the industry."<span class="quote_author">Simon Petch</span></p></div></div></div></div></div><div class="panel_careers_spacer"><div id="cta_download_form"><div class="container" data-aos="zoom-in"><div class="cta_download_info"><div class="cta_download_info_img"><img width="600" height="848" src="https://www.wfw.com/wp-content/uploads/2020/12/MTLR-Front-Cover-Image-600x848-2.jpg" class="attachment-full size-full" alt="" decoding="async" srcset="https://www.wfw.com/wp-content/uploads/2020/12/MTLR-Front-Cover-Image-600x848-2.jpg 600w, https://www.wfw.com/wp-content/uploads/2020/12/MTLR-Front-Cover-Image-600x848-2-212x300.jpg 212w" sizes="(max-width: 600px) 100vw, 600px" /></div><div class="cta_download_info_txt"><p>Download Part 1 Here</p></div></div><div class="report_form_holder"> <div class="wpcf7 no-js" id="wpcf7-f18586-p18425-o1" lang="en-GB" dir="ltr" data-wpcf7-id="18586"> <div class="screen-reader-response"><p role="status" aria-live="polite" aria-atomic="true"></p> <ul></ul></div> <form action="/reports/the-sustainability-imperative-part-1/#wpcf7-f18586-p18425-o1" method="post" class="wpcf7-form init" aria-label="Contact form" novalidate="novalidate" data-status="init"> <div style="display: none;"> <input type="hidden" name="_wpcf7" value="18586" /> <input type="hidden" name="_wpcf7_version" value="6.0" /> <input type="hidden" name="_wpcf7_locale" value="en_GB" /> <input type="hidden" name="_wpcf7_unit_tag" value="wpcf7-f18586-p18425-o1" /> <input type="hidden" name="_wpcf7_container_post" value="18425" /> <input type="hidden" name="_wpcf7_posted_data_hash" value="" /> <input type="hidden" name="_wpcf7dtx_version" value="5.0.0" /> </div> <ul class="form_list form_list_v2"> <li class="li_glide"><label for="insight-name">Name</label><span class="wpcf7-form-control-wrap" data-name="insight-name"><input size="40" maxlength="400" class="wpcf7-form-control wpcf7-text wpcf7-validates-as-required text" id="insight-name" aria-required="true" aria-invalid="false" value="" type="text" name="insight-name" /></span></li> <li class="li_glide"><label for="insight-job">Job title</label><span class="wpcf7-form-control-wrap" data-name="insight-job"><input size="40" maxlength="400" class="wpcf7-form-control wpcf7-text wpcf7-validates-as-required text" id="insight-job" aria-required="true" aria-invalid="false" value="" type="text" name="insight-job" /></span></li> <li class="li_glide"><label for="insight-company">Organisation</label><span class="wpcf7-form-control-wrap" data-name="insight-company"><input size="40" maxlength="400" class="wpcf7-form-control wpcf7-text wpcf7-validates-as-required text" id="insight-company" aria-required="true" aria-invalid="false" value="" type="text" name="insight-company" /></span></li> <li class="li_glide"><label for="insight-email">Email</label><span class="wpcf7-form-control-wrap" data-name="insight-email"><input size="40" maxlength="400" class="wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email text" id="insight-email" aria-required="true" aria-invalid="false" value="" type="email" name="insight-email" /></span></li> <li class="li_checkbox"><span class="wpcf7-form-control-wrap" data-name="insight-terms"><span class="wpcf7-form-control wpcf7-acceptance"><span class="wpcf7-list-item"><label><input type="checkbox" name="insight-terms" value="1" id="insight-terms" aria-invalid="false" /><span class="wpcf7-list-item-label">I accept the <a href="/legal-and-regulatory/" target="_blank">terms</a> and <a href="/privacy/" target="_blank">Privacy policy</a></span></label></span></span></span></li> <li class="li_checkbox"><span class="wpcf7-form-control-wrap" data-name="insight-mailing"><span class="wpcf7-form-control wpcf7-checkbox" id="insight-mailing"><span class="wpcf7-list-item first last"><input type="checkbox" name="insight-mailing[]" value="I would like to join your Maritime sector mailing list" /><span class="wpcf7-list-item-label">I would like to join your Maritime sector mailing list</span></span></span></span></li> <li class="reports_form_note">By clicking download you agree to being contacted by WFW in relation to this report.</li> <li class="form_button"><span class="wpcf7-form-control-wrap" data-name="hcap-cf7"> <input type="hidden" class="hcaptcha-widget-id" name="hcaptcha-widget-id" value="eyJzb3VyY2UiOlsiY29udGFjdC1mb3JtLTdcL3dwLWNvbnRhY3QtZm9ybS03LnBocCJdLCJmb3JtX2lkIjoxODU4Nn0=-858e84e5426929578a8872667420df04"> <span id="hcap_cf7-67417c43147163.95866770" class="wpcf7-form-control h-captcha " data-sitekey="db9f24d6-4e76-45ab-bb43-4313064238e0" data-theme="light" data-size="invisible" data-auto="false" data-force="false"> </span> <input type="hidden" id="_wpnonce" name="_wpnonce" value="838c70cfa5" /><input type="hidden" name="_wp_http_referer" value="/reports/the-sustainability-imperative-part-1/" /></span><input class="wpcf7-form-control wpcf7-submit has-spinner button_outline" type="submit" value="Download Report" /></li> <li class="form-hidden-fields"><span class="wpcf7-form-control-wrap insight-origin-title" data-name="insight-origin-title"><input type="hidden" name="insight-origin-title" id="" class="wpcf7-form-control wpcf7-hidden wpcf7dtx wpcf7dtx-hidden" aria-invalid="false" value="The Sustainability Imperative - Part 1" /></span><span class="wpcf7-form-control-wrap insight-origin-url" data-name="insight-origin-url"><input type="hidden" name="insight-origin-url" id="" class="wpcf7-form-control wpcf7-hidden wpcf7dtx wpcf7dtx-hidden" aria-invalid="false" value="https://www.wfw.com/reports/the-sustainability-imperative-part-1/" /></span><span class="wpcf7-form-control-wrap resource-id" data-name="resource-id"><input type="hidden" name="resource-id" id="" class="wpcf7-form-control wpcf7-hidden wpcf7dtx wpcf7dtx-hidden" aria-invalid="false" value="18425" /></span><span class="wpcf7-form-control-wrap resource-file" data-name="resource-file"><input type="text" name="resource-file" id="resource-file" class="wpcf7-form-control wpcf7-text wpcf7dtx wpcf7dtx-text" aria-invalid="false" required="required" value="https://www.wfw.com/reports/the-sustainability-imperative-report/" /></span><span id="wpcf7-67417c431440b-wrapper" class="wpcf7-form-control-wrap insight-mobile-wrap" style="display:none !important; visibility:hidden !important;"><label for="insight-mobile" class="hp-message">Please leave this field empty.</label><input id="insight-mobile" class="wpcf7-form-control wpcf7-text" type="text" name="insight-mobile" value="" size="40" tabindex="-1" autocomplete="new-password" /></span></li> </ul><div class="wpcf7-response-output" aria-hidden="true"></div> </form> </div> </div></div></div></div><div class="panel_careers_spacer"><div class="reports_video_scroller"><div class="container clearfix"><h2>Videos</h2><div class="reports_video_scroller_slick_holder"><div class="reports_video_scroller_slick"><article><div class="reports_video_article_inner"><a href="https://youtu.be/dzhGgbe5Qi4?rel=0"><img src="https://www.wfw.com/wp-content/uploads/2021/03/WFW-MTL-ESG-The-Industry-Speaks-9-March-2021-cropped.jpg" alt="Watch video"><span></span></a><p>Webinar 1</p></div></article><article><div class="reports_video_article_inner"><a href="https://youtu.be/Bg5CvATg9c8?rel=0"><img src="https://www.wfw.com/wp-content/uploads/2021/03/WFW-MTL-ESG-The-Industry-Speaks-11-March-2021-cropped.jpg" alt="Watch video"><span></span></a><p>Webinar 2</p></div></article><article><div class="reports_video_article_inner"><a href="https://youtu.be/wEQpP5IPE9Q?rel=0"><img src="https://www.wfw.com/wp-content/uploads/2021/02/WFW-Thumbnail-MTL-The-Sustainability-Imperative-Part-01-1218-684px.jpg" alt="Watch video"><span></span></a><p>Part 1: Is the shipping industry up for the challenge?</p></div></article><article><div class="reports_video_article_inner"><a href="https://youtu.be/Fwl8c5ssA48?rel=0"><img src="https://www.wfw.com/wp-content/uploads/2020/12/WFW-Thumbnail-MTL-The-Sustainability-Imperative-Part-02-1218-684px.jpg" alt="Watch video"><span></span></a><p>Part 2: How will shipping fund environmental change?</p></div></article><article><div class="reports_video_article_inner"><a href="https://youtu.be/BifkJ1eeOuU?rel=0"><img src="https://www.wfw.com/wp-content/uploads/2020/12/WFW-Thumbnail-MTL-The-Sustainability-Imperative-Part-03-1218-684px.jpg" alt="Watch video"><span></span></a><p>Part 3: Is the shipping industry embracing change?</p></div></article></div></div></div></div></div><div class="panel_careers_spacer"> <div id="sector_services_team"> <div class="container clearfix"> <div id="sector_services_team_holder"> <h2 class="sector_services_team_desktop">Meet the team</h2> <h2 class="sector_services_team_mobile">Key contacts</h2> <p><a href="https://www.wfw.com/people/?_sft_sector=maritime" class="button_outline">View the whole team</a></p> <div id="sector_services_team_scroller_margin_adjust"> <div id="sector_services_team_scroller"> <article><div class="sector_services_person"><a href="https://www.wfw.com/people/lindsey-keeble/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2019/01/Lindsey-Keeble-1.jpg" alt="Lindsey Keeble"></a><h3><a href="https://www.wfw.com/people/lindsey-keeble/">Lindsey<br>Keeble</a></h3><p class="people_left_stats_job">Managing Partner <span>London</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/george-paleokrassas/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2019/01/George-Paleokrassas-1-1.jpg" alt="George Paleokrassas"></a><h3><a href="https://www.wfw.com/people/george-paleokrassas/">George<br>Paleokrassas</a></h3><p class="people_left_stats_job">Senior Partner <span>New York</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/simon-petch/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Simon-Petch-1.jpg" alt="Simon Petch"></a><h3><a href="https://www.wfw.com/people/simon-petch/">Simon<br>Petch</a></h3><p class="people_left_stats_job">Partner <span>London</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/simon-petch/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Simon-Petch-1.jpg" alt="Simon Petch"></a><h3><a href="https://www.wfw.com/people/simon-petch/">Simon<br>Petch</a></h3><p class="people_left_stats_job">Partner <span>London</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/simon-petch/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Simon-Petch-1.jpg" alt="Simon Petch"></a><h3><a href="https://www.wfw.com/people/simon-petch/">Simon<br>Petch</a></h3><p class="people_left_stats_job">Partner <span>London</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/christopher-belisle/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Christopher-Belisle-1.jpg" alt="Christopher Belisle"></a><h3><a href="https://www.wfw.com/people/christopher-belisle/">Christopher<br>Belisle</a></h3><p class="people_left_stats_job">Partner <span>New York</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/alfredo-cabellos/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/06/Alfredo-Cabellos-1.jpg" alt="Alfredo Cabellos"></a><h3><a href="https://www.wfw.com/people/alfredo-cabellos/">Alfredo<br>Cabellos</a></h3><p class="people_left_stats_job">Partner <span>Madrid</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/clemens-hillmer/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Dr-Clemens-Hillmer-LL.M.-1.jpg" alt="Dr Clemens Hillmer LL.M."></a><h3><a href="https://www.wfw.com/people/clemens-hillmer/">Dr Clemens<br>Hillmer LL.M.</a></h3><p class="people_left_stats_job">Partner <span>Hamburg</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/christina-howard/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Christina-Howard-1.jpg" alt="Christina Howard"></a><h3><a href="https://www.wfw.com/people/christina-howard/">Christina<br>Howard</a></h3><p class="people_left_stats_job">Partner <span>London</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/madeline-leong/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Madeline-Leong-1.jpg" alt="Madeline Leong"></a><h3><a href="https://www.wfw.com/people/madeline-leong/">Madeline<br>Leong</a></h3><p class="people_left_stats_job">Partner <span>Hong Kong</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/matt-lorimer/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2020/09/Matt-Lorimer-1-1.jpg" alt="Matt Lorimer"></a><h3><a href="https://www.wfw.com/people/matt-lorimer/">Matt<br>Lorimer</a></h3><p class="people_left_stats_job">Partner <span>Hanoi</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/laurence-martinez-bellet/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Laurence-Martinez-Bellet-1.jpg" alt="Laurence Martinez Bellet"></a><h3><a href="https://www.wfw.com/people/laurence-martinez-bellet/">Laurence<br>Martinez Bellet</a></h3><p class="people_left_stats_job">Partner <span>Paris</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/simon-ovenden/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Simon-Ovenden-1.jpg" alt="Simon Ovenden"></a><h3><a href="https://www.wfw.com/people/simon-ovenden/">Simon <br>Ovenden </a></h3><p class="people_left_stats_job">Partner <span>London</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/toby-royal/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Toby-Royal-1.jpg" alt="Toby Royal"></a><h3><a href="https://www.wfw.com/people/toby-royal/">Toby<br>Royal</a></h3><p class="people_left_stats_job">Partner <span>London</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/furio-samela/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2024/06/Furio-Samela-2-1.jpg" alt="Furio Samela"></a><h3><a href="https://www.wfw.com/people/furio-samela/">Furio<br>Samela</a></h3><p class="people_left_stats_job">Partner <span>Italy</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/richard-stephens/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/06/Richard-Stephens-1.jpg" alt="Richard Stephens"></a><h3><a href="https://www.wfw.com/people/richard-stephens/">Richard<br>Stephens</a></h3><p class="people_left_stats_job">Partner <span>London</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/kay-kian-tan/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Kay-Kian-Tan-1.jpg" alt="Kay Kian Tan"></a><h3><a href="https://www.wfw.com/people/kay-kian-tan/">Kay Kian<br>Tan</a></h3><p class="people_left_stats_job">Partner <span>Bangkok</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/mark-tooke/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Mark-Tooke-1.jpg" alt="Mark Tooke"></a><h3><a href="https://www.wfw.com/people/mark-tooke/">Mark<br>Tooke</a></h3><p class="people_left_stats_job">Partner <span>London</span></p></div></article><article><div class="sector_services_person"><a href="https://www.wfw.com/people/will-vogel/" class="post_contacts_list_img"><img src="https://www.wfw.com/wp-content/uploads/2023/04/Will-Vogel-1.jpg" alt="Will Vogel"></a><h3><a href="https://www.wfw.com/people/will-vogel/">Will<br>Vogel</a></h3><p class="people_left_stats_job">Partner <span>New York</span></p></div></article> </div> </div> </div> </div> </div> </div><div class="panel_careers_spacer"><div class="page-template-template-sector-services"><div id="home_insights" class="home_insights_archive reports_video_scroller"><div class="container clearfix"><h2>Related insights</h2><div class="reports_insights_margin"><ol><li class="article_1"><div class="home_features_col"><article><div class="home_features_col_img"><a href="https://www.wfw.com/articles/national-minimum-wage-for-seafarers/"><img src="https://www.wfw.com/wp-content/uploads/2020/10/Ro-Ro-Ferry-shutterstock_353531018.jpg" alt=""></a></div><span class="header_tiny header_tiny_type">Article</span><h3 class="h3_styler"><a href="https://www.wfw.com/articles/national-minimum-wage-for-seafarers/">National Minimum Wage for seafarers</a></h3><p class="home_features_col_button"><a href="https://www.wfw.com/articles/national-minimum-wage-for-seafarers/" class="button_outline">Read more</a></p></article></div></li><li class="article_2"><div class="home_features_col"><article><div class="home_features_col_img"><a href="https://www.wfw.com/articles/nasdaq-proposed-board-diversity-rules/"><img src="https://www.wfw.com/wp-content/uploads/2020/03/Boardroom-shutterstock_291229994.jpg" alt=""></a></div><span class="header_tiny header_tiny_type">Article</span><h3 class="h3_styler"><a href="https://www.wfw.com/articles/nasdaq-proposed-board-diversity-rules/">Nasdaq: Proposed Board Diversity Rules</a></h3><p class="home_features_col_button"><a href="https://www.wfw.com/articles/nasdaq-proposed-board-diversity-rules/" class="button_outline">Read more</a></p></article></div></li><li class="article_3"><div class="home_features_col"><article><div class="home_features_col_img"><a href="https://www.wfw.com/articles/european-commission-gives-ihm-enforcement-guidance/"><img src="https://www.wfw.com/wp-content/uploads/2019/02/Cargo-Ship-shutterstock_425535562.jpg" alt=""></a></div><span class="header_tiny header_tiny_type">Article</span><h3 class="h3_styler"><a href="https://www.wfw.com/articles/european-commission-gives-ihm-enforcement-guidance/">European Commission gives IHM enforcement guidance</a></h3><p class="home_features_col_button"><a href="https://www.wfw.com/articles/european-commission-gives-ihm-enforcement-guidance/" class="button_outline">Read more</a></p></article></div></li><li class="article_4"><div class="home_features_col"><article><div class="home_features_col_img"><a href="https://www.wfw.com/articles/scope-3-emissions-how-the-freight-industry-will-transition-to-net-zero/"><img src="https://www.wfw.com/wp-content/uploads/2021/02/Container-Ship-shutterstock_104909027.jpg" alt=""></a></div><span class="header_tiny header_tiny_type">Article</span><h3 class="h3_styler"><a href="https://www.wfw.com/articles/scope-3-emissions-how-the-freight-industry-will-transition-to-net-zero/">Scope 3 emissions: how the freight industry will transition to net zero</a></h3><p class="home_features_col_button"><a href="https://www.wfw.com/articles/scope-3-emissions-how-the-freight-industry-will-transition-to-net-zero/" class="button_outline">Read more</a></p></article></div></li><li class="article_5"><div class="home_features_col"><article><div class="home_features_col_img"><a href="https://www.wfw.com/articles/introducing-hydrogen-a-beginners-guide/"><img src="https://www.wfw.com/wp-content/uploads/2020/12/Hydrogen-shutterstock_1628418715.jpg" alt=""></a></div><span class="header_tiny header_tiny_type">Article</span><h3 class="h3_styler"><a href="https://www.wfw.com/articles/introducing-hydrogen-a-beginners-guide/">Introducing hydrogen – A beginner’s guide</a></h3><p class="home_features_col_button"><a href="https://www.wfw.com/articles/introducing-hydrogen-a-beginners-guide/" class="button_outline">Read more</a></p></article></div></li><li class="article_6"><div class="home_features_col"><article><div class="home_features_col_img"><a href="https://www.wfw.com/articles/sustainable-finance-and-shipping/"><img src="https://www.wfw.com/wp-content/uploads/2017/09/Container-ship-shutterstock_578148127_extended.jpg" alt=""></a></div><span class="header_tiny header_tiny_type">Article</span><h3 class="h3_styler"><a href="https://www.wfw.com/articles/sustainable-finance-and-shipping/">Sustainable Finance and Shipping</a></h3><p class="home_features_col_button"><a href="https://www.wfw.com/articles/sustainable-finance-and-shipping/" class="button_outline">Read more</a></p></article></div></li></ol></div></div></div></div></div> </div> </div> </div> </section> <footer role="contentinfo" id="site_footer"> <div class="container clearfix"> <ul class="social_list"><li class="social_list_linkedin"><a href="https://www.linkedin.com/company/watson-farley-&-williams/" target="_blank">LinkedIn</a></li><li class="social_list_twitter"><a href="https://twitter.com/WFW_LLP" target="_blank">X (Twitter)</a></li><li class="social_list_youtube"><a href="https://www.youtube.com/@WFW_LLP" target="_blank">YouTube</a></li><li class="social_list_wechat"><a href="https://www.wfw.com/wechat/" target="_blank">WeChat</a></li></ul> <nav role="navigation" id="footer_menu"> <ul id="menu-footer-menu" class="menu"><li id="menu-item-159" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-159"><a href="https://www.wfw.com/accessibility-compliance/">Accessibility / compliance</a></li> <li id="menu-item-160" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-160"><a href="https://www.wfw.com/privacy/">Privacy notice</a></li> <li id="menu-item-161" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-161"><a target="_blank" rel="noopener" href="https://subscribe.wfw.com/login/login.aspx">Email preference</a></li> <li id="menu-item-162" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-162"><a href="https://www.wfw.com/legal-and-regulatory/">Legal and regulatory</a></li> <li id="menu-item-163" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-163"><a href="https://www.wfw.com/slavery-and-human-trafficking/">Modern Slavery and Human Trafficking</a></li> <li id="menu-item-164" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-164"><a href="https://www.wfw.com/email-hoax/">Email hoax</a></li> <li id="menu-item-166" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-166"><a href="https://www.wfw.com/cookie-policy/">Cookie policy</a></li> </ul> </nav> <small>© Watson Farley & Williams LLP 2024 <span>Registered office:<br> 15 Appold Street, London, EC2A 2HB, UK. This website constitutes attorney advertising.</span></small> </div> </footer> </div><div class="tjl-overflow-fix"> <div id="menu-main-reveal"> <div class="container clearfix" id="menu-main-reveal-left"> <div id="search_form_mobile"> <form name="search_form" role="search" method="get" class="search_form" action="/search/" autocomplete="off"> <input type="text" class="search_form_text" name="_sf_s" placeholder="Search" id="input_keyword" required> <input type="submit" value="Search" class="search_form_submit"> </form> </div> <div id="menu-main-reveal-left-primary"> <nav role="navigation"> <ul id="menu-main-menu-primary" class="menu"><li id="menu-item-39255" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39255"><a href="/people/">People</a></li> <li id="menu-item-39256" class="menu_open menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-39256"><a href="https://www.wfw.com/about-us/">About Us</a> <ul class="sub-menu"> <li id="menu-item-39314" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-39314"><a href="https://www.wfw.com/about-us/">Overview</a></li> <li id="menu-item-39259" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-39259"><a href="https://www.wfw.com/about-us/diversity-and-inclusion/">Diversity and Inclusion</a></li> <li id="menu-item-39257" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-39257"><a href="https://www.wfw.com/about-us/sustainability/">Sustainability</a></li> </ul> </li> <li id="menu-item-39260" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39260"><a href="/locations/">Locations</a></li> <li id="menu-item-39261" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39261"><a href="/careers/">Careers</a></li> <li id="menu-item-39262" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-39262"><a href="https://www.wfw.com/about-us/contact/">Contact Us</a></li> </ul> </nav> </div> <div id="menu-main-reveal-left-secondary"> <nav role="navigation"> <ul id="menu-main-menu-secondary" class="menu"><li id="menu-item-39242" class="menu_open menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-39242"><a>Featured</a> <ul class="sub-menu"> <li id="menu-item-39243" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39243"><a href="/gari">Global Aviation Resource Index (GARI)</a></li> <li id="menu-item-39244" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39244"><a href="/podcast/countdown-to-cop-financing-and-fuelling-the-future/">COP28 PODCAST SERIES</a></li> <li id="menu-item-39245" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39245"><a href="/reports/the-sustainability-imperative-part-2/">THE SUSTAINABILITY IMPERATIVE</a></li> </ul> </li> <li id="menu-item-39246" class="menu_open menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-39246"><a href="https://www.wfw.com/insights/">Insights</a> <ul class="sub-menu"> <li id="menu-item-39247" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-39247"><a href="https://www.wfw.com/insights/">All Insights</a></li> <li id="menu-item-39248" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39248"><a href="/insights/?_sft_category=articles">Articles</a></li> <li id="menu-item-39249" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39249"><a href="/insights/?_sft_category=awards">Awards</a></li> <li id="menu-item-39250" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39250"><a href="/insights/?_sft_category=events">Events</a></li> <li id="menu-item-39251" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39251"><a href="/insights/?_sft_category=infocus">Infocus</a></li> <li id="menu-item-39252" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39252"><a href="/insights/?_sft_category=podcast">Podcasts</a></li> <li id="menu-item-39253" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39253"><a href="/insights/?_sft_category=press">Press</a></li> <li id="menu-item-39254" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-39254"><a href="/insights/?_sft_category=reports">Reports</a></li> </ul> </li> </ul> </nav> </div> <ul class="social_list"><li class="social_list_linkedin"><a href="https://www.linkedin.com/company/watson-farley-&-williams/" target="_blank">LinkedIn</a></li><li class="social_list_twitter"><a href="https://twitter.com/WFW_LLP" target="_blank">X (Twitter)</a></li><li class="social_list_youtube"><a href="https://www.youtube.com/@WFW_LLP" target="_blank">YouTube</a></li><li class="social_list_wechat"><a href="https://www.wfw.com/wechat/" target="_blank">WeChat</a></li></ul> </div> </div> <div id="menu-expertise-reveal"> <div class="container clearfix" id="menu-expertise-col-holder"> <div class="menu-expertise-col"> <h2>Sectors</h2> <nav role="navigation"> <ul class="menu-expertise-parent"> <li class="page_item page-item-785 page_item_has_children"><a href="https://www.wfw.com/sectors/energy/">Energy</a> <ul class='children'> <li class="page_item page-item-797"><a href="https://www.wfw.com/sectors/energy/mining-commodities/">Mining and Commodities</a></li> <li class="page_item page-item-833"><a href="https://www.wfw.com/sectors/energy/oil-and-gas/">Oil and Gas</a></li> <li class="page_item page-item-835"><a href="https://www.wfw.com/sectors/energy/power/">Power</a></li> </ul> </li> <li class="page_item page-item-3936"><a href="https://www.wfw.com/sectors/infrastructure/">Infrastructure</a></li> <li class="page_item page-item-783 page_item_has_children"><a href="https://www.wfw.com/sectors/transport/">Transport</a> <ul class='children'> <li class="page_item page-item-789 page_item_has_children"><a href="https://www.wfw.com/sectors/transport/aviation/">Aviation</a></li> <li class="page_item page-item-791 page_item_has_children"><a href="https://www.wfw.com/sectors/transport/maritime/">Maritime</a></li> <li class="page_item page-item-793"><a href="https://www.wfw.com/sectors/transport/rail/">Rail</a></li> </ul> </li> </ul> </nav> </div> <div class="menu-expertise-col"> <h2>Services</h2> <nav role="navigation"> <ul class="menu-expertise-parent"> <li class="page_item page-item-801 page_item_has_children"><a href="https://www.wfw.com/services/capital-markets/">Capital Markets</a> <ul class='children'> <li class="page_item page-item-3303"><a href="https://www.wfw.com/services/capital-markets/corporate-trust-agency/">Corporate Trust and Agency</a></li> <li class="page_item page-item-3305"><a href="https://www.wfw.com/services/capital-markets/debt-capital-markets/">Debt Capital Markets</a></li> <li class="page_item page-item-35239"><a href="https://www.wfw.com/services/capital-markets/derivatives/">Derivatives</a></li> <li class="page_item page-item-3307"><a href="https://www.wfw.com/services/capital-markets/equity-capital-markets/">Equity Capital Markets</a></li> <li class="page_item page-item-3300"><a href="https://www.wfw.com/services/capital-markets/structured-finance/">Structured Finance</a></li> </ul> </li> <li class="page_item page-item-837 page_item_has_children"><a href="https://www.wfw.com/services/construction/">Construction</a> <ul class='children'> <li class="page_item page-item-3868"><a href="https://www.wfw.com/services/construction/planning/">Planning</a></li> </ul> </li> <li class="page_item page-item-1649 page_item_has_children"><a href="https://www.wfw.com/services/corporate/">Corporate and M&A</a> <ul class='children'> <li class="page_item page-item-10800"><a href="https://www.wfw.com/services/corporate/corporate-and-acquisition-finance/">Corporate and Acquisition Finance</a></li> <li class="page_item page-item-3874"><a href="https://www.wfw.com/services/corporate/joint-ventures/">Joint ventures and strategic alliances</a></li> <li class="page_item page-item-3872"><a href="https://www.wfw.com/services/corporate/mergers-and-acquisitions/">Mergers and Acquisitions</a></li> </ul> </li> <li class="page_item page-item-839 page_item_has_children"><a href="https://www.wfw.com/services/dispute-resolution/">Dispute Resolution</a> <ul class='children'> <li class="page_item page-item-38113"><a href="https://www.wfw.com/services/dispute-resolution/aviation-dispute-resolution/">Aviation Dispute Resolution</a></li> <li class="page_item page-item-38454"><a href="https://www.wfw.com/services/dispute-resolution/energy-dispute-resolution/">Energy Dispute Resolution</a></li> <li class="page_item page-item-38127"><a href="https://www.wfw.com/services/dispute-resolution/infrastructure-dispute-resolution/">Infrastructure <br>Dispute Resolution</a></li> <li class="page_item page-item-38130"><a href="https://www.wfw.com/services/dispute-resolution/international-arbitration/">International <br>Arbitration</a></li> <li class="page_item page-item-38133"><a href="https://www.wfw.com/services/dispute-resolution/maritime-dispute-resolution/">Maritime Dispute Resolution</a></li> <li class="page_item page-item-38135 page_item_has_children"><a href="https://www.wfw.com/services/dispute-resolution/public-international-law/">Public International Law</a></li> </ul> </li> <li class="page_item page-item-841"><a href="https://www.wfw.com/services/employment/">Employment</a></li> <li class="page_item page-item-799 page_item_has_children"><a href="https://www.wfw.com/services/finance/">Finance</a> <ul class='children'> <li class="page_item page-item-2257"><a href="https://www.wfw.com/services/finance/asset-finance/">Asset Finance and Leasing</a></li> <li class="page_item page-item-2262"><a href="https://www.wfw.com/services/finance/eca-finance/">ECA Finance</a></li> <li class="page_item page-item-3311"><a href="https://www.wfw.com/services/finance/islamic-finance/">Islamic Finance</a></li> <li class="page_item page-item-3870"><a href="https://www.wfw.com/services/finance/project-finance/">Project Finance</a></li> <li class="page_item page-item-3290"><a href="https://www.wfw.com/services/finance/real-estate-finance/">Real Estate Finance</a></li> </ul> </li> <li class="page_item page-item-845"><a href="https://www.wfw.com/services/private-equity/">Private Equity</a></li> <li class="page_item page-item-3916"><a href="https://www.wfw.com/services/public-law/">Public Law</a></li> <li class="page_item page-item-787 page_item_has_children"><a href="https://www.wfw.com/services/real-estate/">Real Estate</a> <ul class='children'> <li class="page_item page-item-2965"><a href="https://www.wfw.com/services/real-estate/hotels-hospitality/">Hotels and Hospitality</a></li> <li class="page_item page-item-2957"><a href="https://www.wfw.com/services/real-estate/real-estate-disputes/">Real Estate Disputes</a></li> </ul> </li> <li class="page_item page-item-847 page_item_has_children"><a href="https://www.wfw.com/services/regulatory-competition/">Regulatory and Competition</a> <ul class='children'> <li class="page_item page-item-3926"><a href="https://www.wfw.com/services/regulatory-competition/environment-health-safety/">Environment, Health and Safety</a></li> <li class="page_item page-item-3912"><a href="https://www.wfw.com/services/regulatory-competition/eu-competition/">EU and Competition</a></li> <li class="page_item page-item-35242"><a href="https://www.wfw.com/services/regulatory-competition/financial-services-regulation/">Financial Services Regulation</a></li> <li class="page_item page-item-3914"><a href="https://www.wfw.com/services/regulatory-competition/regulatory/">Regulatory</a></li> </ul> </li> <li class="page_item page-item-3929"><a href="https://www.wfw.com/services/restructuring-insolvency/">Restructuring and Insolvency</a></li> <li class="page_item page-item-849"><a href="https://www.wfw.com/services/tax/">Tax</a></li> </ul> </nav> </div> </div> </div> </div> </div> <div class='asp_hidden_data' id="asp_hidden_data" style="display: none !important;"> <svg style="position:absolute" height="0" width="0"> <filter id="aspblur"> <feGaussianBlur in="SourceGraphic" stdDeviation="4"/> </filter> </svg> <svg style="position:absolute" height="0" width="0"> <filter id="no_aspblur"></filter> </svg> </div> <script> (()=>{'use strict';let loaded=!1,scrolled=!1,timerId;function load(){if(loaded){return} loaded=!0;clearTimeout(timerId);window.removeEventListener('touchstart',load);document.body.removeEventListener('mouseenter',load);document.body.removeEventListener('click',load);window.removeEventListener('load',delayedLoad);const t=document.getElementsByTagName('script')[0];const s=document.createElement('script');s.type='text/javascript';s.id='hcaptcha-api';s.src='https://js.hcaptcha.com/1/api.js?onload=hCaptchaOnLoad&render=explicit';s.async=!0;t.parentNode.insertBefore(s,t)} function scrollHandler(){if(!scrolled){scrolled=!0;return} window.removeEventListener('scroll',scrollHandler);load()} function delayedLoad(){window.addEventListener('scroll',scrollHandler);const delay=-100;if(delay>=0){setTimeout(load,delay)}} window.addEventListener('touchstart',load);document.body.addEventListener('mouseenter',load);document.body.addEventListener('click',load);window.addEventListener('load',delayedLoad)})() </script> <script type="text/javascript" src="https://www.wfw.com/wp-includes/js/dist/hooks.min.js?ver=2810c76e705dd1a53b18" id="wp-hooks-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-includes/js/dist/i18n.min.js?ver=5e580eb46a90c2b997e6" id="wp-i18n-js"></script> <script type="text/javascript" id="wp-i18n-js-after"> /* <![CDATA[ */ wp.i18n.setLocaleData( { 'text direction\u0004ltr': [ 'ltr' ] } ); /* ]]> */ </script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/contact-form-7/includes/swv/js/index.js?ver=6.0" id="swv-js"></script> <script type="text/javascript" id="contact-form-7-js-before"> /* <![CDATA[ */ var wpcf7 = { "api": { "root": "https:\/\/www.wfw.com\/wp-json\/", "namespace": "contact-form-7\/v1" } }; /* ]]> */ </script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/contact-form-7/includes/js/index.js?ver=6.0" id="contact-form-7-js"></script> <script type="text/javascript" id="wpcf7-redirect-script-js-extra"> /* <![CDATA[ */ var wpcf7r = {"ajax_url":"https:\/\/www.wfw.com\/wp-admin\/admin-ajax.php"}; /* ]]> */ </script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/wpcf7-redirect/build/js/wpcf7r-fe.js?ver=1.1" id="wpcf7-redirect-script-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/themes/wfw/js/modernizr.js?ver=2.6.2" id="tjldesigns-script-modernizr-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/themes/wfw/js/jquery.sticky.js?ver=1.0.4" id="tjldesigns-script-jquery-ui-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/themes/wfw/js/slick.min.js?ver=1.6.0" id="tjldesigns-script-slick-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/themes/wfw/js/masonry.pkgd.min.js?ver=4.2.1" id="tjldesigns-script-masonry-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/themes/wfw/js/jquery.waypoints.js?ver=1.0" id="tjldesigns-script-waypoint-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/themes/wfw/js/jquery.counterup.min.js?ver=1.0" id="tjldesigns-script-counterup-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/themes/wfw/js/aos.js?ver=1.0" id="tjldesigns-script-aos-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/themes/wfw/js/main.js?ver=1731359476" id="tjldesigns-script-main-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/easy-fancybox/vendor/purify.min.js?ver=1732344899" id="fancybox-purify-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/easy-fancybox/fancybox/1.5.4/jquery.fancybox.js?ver=1732344899" id="jquery-fancybox-js"></script> <script type="text/javascript" id="jquery-fancybox-js-after"> /* <![CDATA[ */ var fb_timeout, fb_opts={'autoScale':true,'showCloseButton':true,'margin':20,'pixelRatio':'false','padding':0,'centerOnScroll':false,'enableEscapeButton':true,'overlayShow':true,'hideOnOverlayClick':true,'overlayColor':'#182E44','overlayOpacity':0.9,'minVpHeight':320,'disableCoreLightbox':'true','enableBlockControls':'true','fancybox_openBlockControls':'true' }; if(typeof easy_fancybox_handler==='undefined'){ var easy_fancybox_handler=function(){ jQuery([".nolightbox","a.wp-block-file__button","a.pin-it-button","a[href*='pinterest.com\/pin\/create']","a[href*='facebook.com\/share']","a[href*='twitter.com\/share']"].join(',')).addClass('nofancybox'); jQuery('a.fancybox-close').on('click',function(e){e.preventDefault();jQuery.fancybox.close()}); /* IMG */ var unlinkedImageBlocks=jQuery(".wp-block-image > img:not(.nofancybox,figure.nofancybox>img)"); unlinkedImageBlocks.wrap(function() { var href = jQuery( this ).attr( "src" ); return "<a href='" + href + "'></a>"; }); var fb_IMG_select=jQuery('a[href*=".jpg" i]:not(.nofancybox,li.nofancybox>a,figure.nofancybox>a),area[href*=".jpg" i]:not(.nofancybox),a[href*=".jpeg" i]:not(.nofancybox,li.nofancybox>a,figure.nofancybox>a),area[href*=".jpeg" i]:not(.nofancybox),a[href*=".png" i]:not(.nofancybox,li.nofancybox>a,figure.nofancybox>a),area[href*=".png" i]:not(.nofancybox),a[href*=".webp" i]:not(.nofancybox,li.nofancybox>a,figure.nofancybox>a),area[href*=".webp" i]:not(.nofancybox)'); fb_IMG_select.addClass('fancybox image'); var fb_IMG_sections=jQuery('.gallery,.wp-block-gallery,.tiled-gallery,.wp-block-jetpack-tiled-gallery,.ngg-galleryoverview,.ngg-imagebrowser,.nextgen_pro_blog_gallery,.nextgen_pro_film,.nextgen_pro_horizontal_filmstrip,.ngg-pro-masonry-wrapper,.ngg-pro-mosaic-container,.nextgen_pro_sidescroll,.nextgen_pro_slideshow,.nextgen_pro_thumbnail_grid,.tiled-gallery'); fb_IMG_sections.each(function(){jQuery(this).find(fb_IMG_select).attr('rel','gallery-'+fb_IMG_sections.index(this));}); jQuery('a.fancybox,area.fancybox,.fancybox>a').each(function(){jQuery(this).fancybox(jQuery.extend(true,{},fb_opts,{'transition':'elastic','transitionIn':'elastic','easingIn':'easeOutBack','transitionOut':'elastic','easingOut':'easeInBack','opacity':false,'hideOnContentClick':false,'titleShow':false,'titlePosition':'over','titleFromAlt':false,'showNavArrows':false,'enableKeyboardNav':false,'cyclic':false,'mouseWheel':'false'}))}); /* Inline */ jQuery('a.fancybox-inline,area.fancybox-inline,.fancybox-inline>a').each(function(){jQuery(this).fancybox(jQuery.extend(true,{},fb_opts,{'type':'inline','autoDimensions':true,'scrolling':'no','easingIn':'easeOutBack','easingOut':'easeInBack','opacity':false,'hideOnContentClick':false,'titleShow':false}))}); /* YouTube */ jQuery('a[href*="youtu.be/" i],area[href*="youtu.be/" i],a[href*="youtube.com/" i],area[href*="youtube.com/" i]' ).filter(function(){return this.href.match(/\/(?:youtu\.be|watch\?|embed\/)/);}).not('.nofancybox,li.nofancybox>a').addClass('fancybox-youtube'); jQuery('a.fancybox-youtube,area.fancybox-youtube,.fancybox-youtube>a').each(function(){jQuery(this).fancybox(jQuery.extend(true,{},fb_opts,{'type':'iframe','width':1050,'height':599,'keepRatio':1,'aspectRatio':1,'titleShow':false,'titlePosition':'float','titleFromAlt':false,'onStart':function(a,i,o){var splitOn=a[i].href.indexOf("?");var urlParms=(splitOn>-1)?a[i].href.substring(splitOn):"";o.allowfullscreen=(urlParms.indexOf("fs=0")>-1)?false:true;o.href=a[i].href.replace(/https?:\/\/(?:www\.)?youtu(?:\.be\/([^\?]+)\??|be\.com\/watch\?(.*(?=v=))v=([^&]+))(.*)/gi,"https://www.youtube.com/embed/$1$3?$2$4&autoplay=1");}}))}); /* Vimeo */ jQuery('a[href*="vimeo.com/" i],area[href*="vimeo.com/" i]' ).filter(function(){return this.href.match(/\/(?:[0-9]+|video\/)/);}).not('.nofancybox,li.nofancybox>a').addClass('fancybox-vimeo'); jQuery('a.fancybox-vimeo,area.fancybox-vimeo,.fancybox-vimeo>a').each(function(){jQuery(this).fancybox(jQuery.extend(true,{},fb_opts,{'type':'iframe','width':1050,'height':599,'keepRatio':1,'aspectRatio':1,'titleShow':false,'titlePosition':'float','titleFromAlt':false,'onStart':function(a,i,o){var splitOn=a[i].href.indexOf("?");var urlParms=(splitOn>-1)?a[i].href.substring(splitOn):"";o.allowfullscreen=(urlParms.indexOf("fullscreen=0")>-1)?false:true;o.href=a[i].href.replace(/https?:\/\/(?:www\.)?vimeo\.com\/([0-9]+)\??(.*)/gi,"https://player.vimeo.com/video/$1?$2&autoplay=1");}}))}); };}; var easy_fancybox_auto=function(){setTimeout(function(){jQuery('a#fancybox-auto,#fancybox-auto>a').first().trigger('click')},1000);}; jQuery(easy_fancybox_handler);jQuery(document).on('post-load',easy_fancybox_handler); jQuery(easy_fancybox_auto); /* ]]> */ </script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/easy-fancybox/vendor/jquery.easing.js?ver=1.4.1" id="jquery-easing-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/uploads/visualizer/customization.js" id="visualizer-customization-js" async></script> <script type="text/javascript" async src="//www.gstatic.com/charts/loader.js" id="google-jsapi-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/visualizer/js/lib/dom-to-image.min.js" id="dom-to-image-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/visualizer/js/render-google.js?ver=3.11.7" id="visualizer-render-google-lib-js" async></script> <script type="text/javascript" id="visualizer-render-google-js-extra"> /* <![CDATA[ */ var visualizer = {"charts":{"visualizer-19807-1030017306":{"type":"bar","series":[{"label":"Answer","type":"string"},{"label":"All financiers","type":"number"},{"label":"All shipowners","type":"number"}],"settings":{"title":"In your view, what are the biggest challenges for the maritime industry in the next five years?","titlePosition":"out","titleTextStyle":{"color":"#000"},"axisTitlesPosition":"","description":"","fontName":"Arial","fontSize":"12","legend":{"position":"bottom","alignment":"center","textStyle":{"color":"#000"}},"tooltip":{"trigger":"focus","showColorCode":""},"animation":{"duration":"3000","easing":"inAndOut"},"hAxis":{"title":"","textPosition":"","direction":"","textStyle":"#000","format":"#%","gridlines":{"count":"","color":"#ccc"},"viewWindow":{"max":"0.3","min":"0"},"baselineColor":"#000"},"vAxis":{"baselineColor":"#000","minorGridlines":{"count":"","color":""},"title":"","textPosition":"","direction":"","textStyle":"#000"},"focusTarget":"datum","isStacked":"","dataOpacity":"","series":[{"visibleInLegend":"","format":"#%","color":"#457883","role":""},{"visibleInLegend":"","format":"#%","color":"#3D4863","role":""},{"visibleInLegend":"","format":"#%","color":"#3D4863","role":""}],"width":"100%","height":"750","backgroundColor":{"strokeWidth":"","stroke":"#666","fill":"#fff"},"chartArea":{"left":"30%","top":"10%","width":"","height":""},"manual":"{ \"animation\": { \"duration\": 4000, \"easing\": \"inAndOut\", \"startup\": true } }","permissions":{"read":"all","edit":"roles"},"save":"1","internal_title":"In your view, what are the biggest challenges for the maritime industry in the next five years?"},"data":[["Military conflict \/ political instability",0.040000000000000000832667268468867405317723751068115234375,0.01000000000000000020816681711721685132943093776702880859375],["Regulatory (tax, governance, disclosure & transparency requirements)",0.070000000000000006661338147750939242541790008544921875,0.05000000000000000277555756156289135105907917022705078125],["Regulatory (IMO, health & safety, environmental regulation, crew welfare)",0.0899999999999999966693309261245303787291049957275390625,0.05000000000000000277555756156289135105907917022705078125],["Access to financing (availability of providers)",0.059999999999999997779553950749686919152736663818359375,0.040000000000000000832667268468867405317723751068115234375],["Access to financing (pricing)",0.05000000000000000277555756156289135105907917022705078125,0.05000000000000000277555756156289135105907917022705078125],["New technological requirements and developments",0.1499999999999999944488848768742172978818416595458984375,0.1000000000000000055511151231257827021181583404541015625],["Impact of Covid-19 \/ similar unknown 'black swan' events",0.1000000000000000055511151231257827021181583404541015625,0.2099999999999999922284388276239042170345783233642578125],["International trade tensions (including sanctions)",0.2099999999999999922284388276239042170345783233642578125,0.2099999999999999922284388276239042170345783233642578125],["Reducing emissions \/ carbon footprint",0.2399999999999999911182158029987476766109466552734375,0.289999999999999980015985556747182272374629974365234375]],"library":"google"}},"language":"en","map_api_key":"","rest_url":"https:\/\/www.wfw.com\/wp-json\/visualizer\/v1\/action\/#id#\/#type#\/","wp_nonce":"838c70cfa5","i10n":{"copied":"The data has been copied to your clipboard. Hit Ctrl-V\/Cmd-V in your spreadsheet editor to paste the data."},"page_type":"frontend","is_front":"1"}; /* ]]> */ </script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/visualizer/js/render-facade.js?ver=3.11.7" id="visualizer-render-google-js" async></script> <script type="text/javascript" id="hcaptcha-js-extra"> /* <![CDATA[ */ var HCaptchaMainObject = {"params":"{\"sitekey\":\"db9f24d6-4e76-45ab-bb43-4313064238e0\",\"theme\":\"light\",\"size\":\"invisible\",\"hl\":\"en\"}"}; /* ]]> */ </script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/hcaptcha-for-forms-and-more/assets/js/apps/hcaptcha.js?ver=4.6.0" id="hcaptcha-js"></script> <script type="text/javascript" src="https://www.wfw.com/wp-content/plugins/hcaptcha-for-forms-and-more/assets/js/hcaptcha-cf7.min.js?ver=4.6.0" id="hcaptcha-cf7-js"></script> </body> </html>