Greenwashing issues in the superyacht industry

February 25, 2021
By CSE

Like many industries, the superyacht industry is prone to greenwashing issues. Yachting journalists tend to refer to “green” developments in the industry, but the word “green” itself does not mean sustainable. Sustainability does not only represent environmental practices, but should also be approached from a social and economic perspective.

 

There is no doubt that the superyacht industry is directly related to the marine environment and the optimization of the manufacturing supply chain towards energy use and wastage is very important. The industry needs to move away from diesel and lithium batteries, while maintaining low greenhouse gas emissions. Moreover, yachts cast aside a lot of raw materials that should be managed with an appropriate way. However, these practices are not enough.

 

Superyacht industry has a great contribution to society, such as the creation of jobs, but it can also affect the employees and local communities. In order to be sustainable, issues, such as safety through the manufacturing process or noise pollution during the use of the yachts should be addressed.

 

As new regulations demand greater transparency and non-financial reporting across different industries, it is very important to create a sustainability strategy and set methods for reporting. Reports are not only tools for effective communication, but they can be fact based tools, too. Sustainability reporting can increase a company’s transparency and competitiveness, attracting more investments. While most industries and investors tend to focus more on ESG frameworks and ratings, the superyacht industry cannot fall behind.

 

Ferretti Group released in January its first sustainability report, introducing its environmental and social performance, innovating in technologies that can increase efficiency. Furthermore, the Group has given great emphasis in the entire supply chain and human capital. On the other hand, Bénéteau Group ensures sustainability growth with certified environmental policy and stronger focus on transparency.

 

 The Center for Sustainability and Excellence celebrates more than 12 years of trust from global FT 500 corporations and executives to provide Sustainability Education in the US, Canada and Europe.

CSE’s specialized consulting services, such as Sustainability Reporting, Sustainable Communications and compliance with the most important standards in the field (e.g GRI), can provide you a comparative advantage in the superyacht industry.

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