The ESG Shipping Awards 2024 THE CONFERENCE, a landmark event for the maritime industry’s ESG leaders, successfully concluded on October 18th, 2024, at the Ble Pavillon in Alimos, Athens. The conference brought together over 350 key industry leaders, experts, and stakeholders from around the world, serving as a vital platform for knowledge sharing and advancing sustainability efforts within the shipping sector.

Helena Athoussaki and Katerina Stathopoulou, principal organizers of the ESG Shipping Awards, opened the event by expressing gratitude to the award winners from last May’s Ceremony for participating and sharing their achievements. The conference fostered discussions on challenges, future opportunities, and essential partnerships, highlighting the importance of collaboration in advancing ESG principles within the shipping industry.

The event commenced with opening remarks from Mr. Manolis Koutoulakis, Secretary General of the Ministry of Maritime Affairs and Insular Policy, who highlighted the rapid transformation of ESG reporting and sustainability into concrete and essential components of the shipping industry’s new business model.

Dr. George Pateras, President of the Hellenic Chamber of Shipping (HCS), stressed the need to focus on feasible, science-based solutions instead of engaging in greenwashing. He noted that ESG has fortunately taken the right path, emerging as a valuable tool for genuine self-assessment and peer accountability.

In her keynote speech Mrs. Lillian Georgopoulou, Deputy Chief Listings Officer of the ATHEX Group, emphasized the importance of sustainable financing and identified green bonds as a key tool for investments in cleaner technologies and fleet retrofitting, allowing companies to access a broader pool of sustainability-focused investors and potentially lower their cost of capital. “At the Athens Stock Exchange, we remain firmly committed to supporting companies in financing their green transition. By providing access to sustainable capital and promoting ESG principles, we aim to play a pivotal role in helping businesses, including those in the maritime industry, achieve their sustainability goals while contributing to a more resilient and responsible global economy” she stated.

Insightful presentations and panel discussions:

Mr. Nikolaos Athanasoulis, Senior Manager of Climate Change and Sustainability Services (CCaSS) at EY Greece, presented a comprehensive overview of stakeholder perspectives on ESG performance, underscoring the vital importance of corporate sustainability reporting directives (CSRD) in integrating financial performance with environmental considerations.

Ms. Despoina Joanna Petsiou, Products Division Director at BPCO LTD Green Technologies, presented two key technologies for maritime decarbonization: rotor sail wind-assisted propulsion (WASP) and carbon capture systems (CCS) and how these technologies offer practical solutions for achieving future regulatory compliance and advancing maritime sustainability.

Mr. Filimon Antonopoulos, Managing Director Tallon Commodities Ltd., highlighted the importance of effective management of carbon emissions, advocating for forward-looking investment strategies in carbon allowances, especially given the belief that carbon prices will continue to rise.

Mr. Paul Tours, Senior Solution Consultant, Enablon, Wolters Kluwer EHS & ESG, delivered an insightful presentation on ESG reporting, highlighting key areas such as effective data collection, stakeholder engagement, and transparency. He emphasized that ESG reporting is not a short-term sprint but a long-term marathon, pointing out that sustainability has a direct impact on financial performance and global competitiveness.

The Conference featured Panels that showcased Best Practices and facilitated Dynamic Discussions on the Key Challenges confronting the maritime industry.

• The “Leading ESG Strategies” panel featured a fireside chat with Angela Stark, Senior Vice President at Norwegian Cruise Line Holdings Ltd., the Gold ESG Leader Award winner, who outlined the company’s decarbonization strategy focusing on efficiency, innovation, and collaboration. She highlighted the cruise line’s community impact program aimed at fostering meaningful guest interactions with local communities, emphasizing the importance of thoughtful engagement and conducting a double materiality assessment to address community concerns. Kitty Mok, Director of Risk at Pacific Basin Shipping Limited and Silver ESG Leader Award winner, shared insights into her company’s fleet renewal strategy, prioritizing dual-fuel and low-emission vessels. She underscored the significance of responsible governance, utilizing a three lines of defense model to ensure effective risk management across all levels of operations.
• Moderated by Mr. Ralf Garrn, Managing Director of OceanScore GmbH, the “Climate Change & Environmental Evolution” panel featured Mr. Stergios Stergiou, Capital Group, Dr. Vasileios Kosmas for Carnival Corporation & plc, Mr. Avraam Gelegenis, Diana Shipping Services S.A., Mr. Dimitris Solomonides, Lemissoler Navigation Co. Ltd., and Michael Blanding & Sylvain Julien representing Berge Bulk. The panelists shared insights into innovative decarbonization strategies, including the adoption of dual-fuel technologies, carbon capture initiatives, and sustainable fuel alternatives such as LNG, ammonia, and biofuels. Discussions focused on the challenges and opportunities in setting ambitious emissions reduction targets, navigating regulatory frameworks, and implementing energy-efficient technologies, highlighting the maritime industry’s commitment to achieving net-zero emissions through innovation, collaboration, and strategic investments.

• Moderated by Dr. Nikolaos Liapis, President of the Hellenic Institute of Marine Technology, the “Technology & Partnerships” panel featured distinguished experts from the shipping industry, including Vasileios G. Petousis, Seanergy Maritime Holdings Corp., Dr. Vasileios Kosmas for AIDA Cruises, and Gregory Spourdalakis, Columbia Group. The panelists discussed transformative projects such as the SafeCraft hydrogen retrofit initiative, aimed at reducing carbon emissions by retrofitting existing vessels to utilize hydrogen as a fuel source, and AIDA Cruises’ battery energy storage system, which enhances energy efficiency and supports sustainable operations. The panel illustrated the critical role of strategic partnerships in overcoming technological barriers and the importance of innovative digital tools like EngineLink for emissions reduction. The conversation emphasized that collaboration between academia, industry, and regulatory bodies is essential for the shipping industry to thrive in its sustainability journey and achieve ambitious net-zero targets by 2050.

• In the panel discussion titled “Social Leadership,” moderated by Mr. Konstantinos Oikonomou, CEO of Marine Tours, Cpt. Dimitris Agrimis, Navios Maritime Partners L.P. emphasized the company’s commitment to achieving zero incidents through a human-centric approach, highlighting comprehensive training programs and tailored mental health support for over 4,000 crew members. Mr. Artemios Alifragkis, Atlantic Bulk Carriers Management Ltd., reinforced the crucial role of the human element in shipping and advocated for upskilling and collaboration with industry partners. Dr. George Baltas, Chandris (Hellas) Inc., shared his vision for leaving a legacy of sustainable practices and ethical leadership through ESG initiatives, while Mr. Mike Bradshaw, Fleet Management Limited, introduced the behavioral-based safety (SafeR+) program, promoting proactive safety culture through gamification and rewards. Ms. Efi Smyrlaki, Laskaridis Shipping Co. Ltd., highlighted the company’s innovative use of an interactive wellness platform and advanced 3D scanning technology to enhance crew training effectiveness and retention rates, demonstrating a strong commitment to workforce wellbeing.

• The fifth panel discussion focused on “Diversity, Equity, and Inclusion (DEI)” in the maritime industry, featuring contributions from key figures like Mr. Stathis Theofilou, Bernhard Schulte Shipmanagement, who discussed initiatives such as cross-mentorship programs aimed at increasing female representation in leadership roles, resulting in a notable 31% representation on their management board. Mr. Evangelos Sfakiotakis, Diana Shipping Services S.A.  highlighted the All-Aboard Alliance initiative, emphasizing the need for equal opportunities for all genders onboard vessels and the company’s existing commitment to women in leadership roles, including a 40% female presence in their organization. Mr. Gregory Spourdalakis, Columbia Group, shared insights on their female cadet program, showcasing mentorship strategies that not only support women but also foster an inclusive culture for all employees, reflecting significant productivity and engagement benefits. Throughout the discussion, the moderator emphasized the challenges of overcoming male-dominated industry norms, advocating for greater awareness and support for female seafarers. The consensus among the panelists was that fostering an inclusive environment not only benefits individual careers but also enhances operational excellence and innovation within the shipping sector.

• An inspiring sixth panel discussion about Community Engagement and Youth Empowerment in Shipping featuring key industry leaders. Ms. Venetia Kallipolitou, Tsakos Energy Navigation Limited, shared her passion for nurturing young talent through initiatives like the Maria Tsakos Academy and the TEEN Nautical School, emphasizing their role in shaping the next generation of maritime leaders. Alongside her was Ms. Lydia Stathi, Latsco Shipping Limited, who highlighted her company’s dedication to fostering sustainable practices through internships, scholarships and community engagement. Moderated by Mr. Yofis Florentin Founder and CEO of Learning Seaman, the panel addressed the importance of mentorship and collaboration within the shipping industry, showcasing various successful initiatives designed to bridge the gap between education and employment opportunities. Together, they exemplified the collective effort required to build a robust maritime future, empowering the youth to take on leadership roles and innovate for a sustainable tomorrow.

• In the last panel discussion moderated by Mr. Costas Constantinou, Managing Partner, Global Shipping Leader at Moore Greece, Ms. Erifili Tsironi, Navios Maritime Partners L.P. emphasized the importance of a majority-independent board and dedicated committees for audit and compensation. Ms. Georgia Fardellou, Starbulk Carriers Corp. noted the establishment of an ESG committee and highlighted that “we have one KPI related to one of the environmental goals, which directly influences bonuses for board members and employees, encouraging performance.”  Ms. Korinna Tapaktsoglou, Pioneer Marine underscored the need for compliance with best practices and open communication to build trust within the organization.

The conference concluded with closing remarks from Mr. Jan Fransen, Chairman of the Judging Committee, who reflected on the pivotal role of the ESG Shipping Awards in promoting sustainability in the maritime industry.

The announcement of the ESG Shipping Awards 2025, scheduled for 23 May 2025, was made at the closing of the event, with applications set to open on 9 December 2024 and remain open until 7 March 2025.

Special thanks were given to the event planner, Stelina Markoulaki from Digital Shadows, her team, and partners for their efforts in making the conference a success.

Scholarship Initiative

Additionally, the Principal Organizers announced this year’s Community Contribution: Ten scholarships for an ESG executive seminar provided by the Institute of Chartered Shipbrokers (ICS) and the National & Kapodistrian University of Athens (EKPA). The aim is to foster industry professionals equipped with sustainability knowledge.

Sustainability Actions

Furthering its dedication to transparency and climate action, the ESG Shipping Awards partnered with Emicert to measure and verify the Awards Ceremony & Gala Dinner’s carbon footprint, ensuring accountability in its efforts towards meaningful climate action.

Live Polls

Throughout the conference, attendees participated in live polls that shed light on the maritime industry’s current landscape and future prospects. The results revealed mixed confidence in the shipping sector’s ability to achieve net-zero emissions by 2050, highlighting both significant challenges and emerging opportunities. There was a strong consensus around Liquefied Natural Gas (LNG) as the primary fuel for the future, with growing support for nuclear energy, while interest in biofuels and methanol also emerged. However, concerns regarding the lack of global infrastructure and supply chains were identified as major obstacles to adopting alternative fuels, compounded by high costs. Poll results indicated a predominant expectation for EUA prices to range between €75 and €90 in the coming year, with many anticipating a drop to €60 to €75. Attendees expressed strong skepticism about unmanned vessels becoming the norm within the next decade. Finally, there was an overwhelming agreement that transparency and accountability are the foremost challenges facing governance in the shipping industry today.

Testimonials from Speakers

“We were thrilled to have the opportunity to share NCLH’s Sail & Sustain sustainability journey at the ESG Shipping Awards 2024 International Conference. Collaboration will be the key to accomplishing our sustainability goals and this opportunity to connect with others in the shipping industry, celebrate our successes and communicate our challenges was invaluable.”

Angela Start, SVP, Assistant General Counsel, Securities, Sustainability & Compliance at Norwegian Cruise Line Holdings Ltd.

‘‘At the Athens Stock Exchange, we remain firmly committed to supporting companies in financing their green transition. By providing access to sustainable capital and promoting ESG principles, we aim to play a pivotal role in helping businesses, including those in the maritime industry, achieve their sustainability goals while contributing to a more resilient and responsible global economy.”

Lillian Georgopoulou, ATHEX Group, Deputy Chief Listings Officer

‘‘Who says shipping is a male-dominated industry? ESG is clearly changing the landscape, with around 50% of the attendees being women. I had the pleasure of meeting many young, passionate leaders who view shipping as a career path and see ESG as an essential part of its future.”

Ralf Garrn, Managing Director, OceanScore GmbH

‘‘Extremely interesting ESG topics for discussion organized with excellence!”

Dimitris Solomonides, Chief Technical Officer, Lemissoler Navigation Co. Ltd.

‘‘Our participation in the ESG Shipping Awards 2024 International Conference give us a firsthand opportunity to engage with industry leaders, share best practices, and showcase our unwavering commitment to ESG Principles.”

Korinna Tapaktsoglou, Managing Director / CFO, Pioneer Marine

“It’s been a great honor to have participated in the ESG Shipping Awards 2024 – THE CONFERENCE and to moderate the panel on Social Leadership. This event is a vital platform for the shipping industry, driving meaningful discussions on sustainability and responsible leadership.”

Konstantinos Oikonomou – CEO Marine Tours