The tide is turning on environmental responsibility and reporting within the boating industry.
At Boatbookings, we have seen various greener developments and positive change showcased through technological and mindset shifts in recent years. But, industry stakeholders must measure and track progress with non-financial and transparent reporting to continue on this better path.
What is Sustainability Reporting?
Sustainability reporting is a form of non-financial reporting that enables stakeholders to measure and track their progress toward goals on various parameters. These include environmental, social, and governance metrics (ESG).
Shipyards and builders have made a concerted effort over the past few years to do so, with more releasing reports. Many yachting companies have also appointed sustainability and ESG officers to focus on the matter to develop more sustainable practices. The Beneteau Group is one example showcased by its certified environmental policy and a stronger focus on transparency within its Sustainability Performance Report.
Quite simply, the industry cannot change what it doesn’t measure; therefore, sustainability reporting is vital. Here are some of the reasons why we believe there should be increased reporting across the industry:
Better Accountability
The industry and the wider world cannot afford to disregard the environmental consequences of our actions. This awareness is leading to greater calls for accountability. All stakeholders within the industry are facing increasing pressure to account for environmental impact, and the need for transparent reporting is evident. Reporting allows for better accountability and creates a system enabling stakeholders to measure, track, and communicate sustainability efforts. Our carbon emissions calculator is one way we help facilitate accountability.
Greener Decisions
The more data there is, the more it enables clients and stakeholders to make better, informed choices. With an increased demand for greener options, transparent reporting allows choices to be made that align with a greener ethos and responsibility. We have seen increased demand for our greener crewed charter catamarans and consistently strive to keep adding better options to our fleet.
Setting a Better Benchmark
Reporting promotes healthy competition across the whole industry. When companies share sustainability efforts and achievements, they set a benchmark for others to aspire to. This creates a positive cycle of continuous improvement and enables others to see what level their practices should reach.
Regulation On The Horizon
The global market is already shifting toward a more sustainable future. Boating companies that proactively embrace sustainability reporting will be better prepared to adapt to these changing market dynamics. Financial companies are already beginning to pull back on lending to those if the assets do not show evidence of sustainability. The market will slowly become a place where eco-consciousness and responsible practices are not just preferred but expected by clients and regulators. Transparent reporting can help companies stay compliant with the increasing regulations that will begin to appear.
Meeting the Demand
More and more clients are conscious of their environmental impact, seeking eco-friendly and greener chartering for responsible boating. Reporting enables companies to demonstrate their commitment to principles. This ensures that clients can select the companies that align with their values, driving more demand for these greener options.
By openly sharing data, initiatives, and progress, companies within the boating industry can contribute to the global effort while positioning themselves as responsible and forward-thinking leaders.
Contact one of the Boatbookings team today to discuss how we are working to improve our impact and to enquire about one of our greener crewed charter catamarans.