How circular economy applies to superyacht industry

April 1, 2021
By CSE

Marine environmental concerns are being addressed both by international and EU legislation, challenging the superyacht industry to combine luxury with sustainability. The concept of circular economy is gaining popularity in most industries, finding innovative ways to maintain the value of products, materials and resources for as long as possible.

 

 

The EU Circular Economy Action Plan is one of the core pillars of the European Green Deal, demanding climate-neutrality by 2050. The plan establishes a strong policy framework, which can be applied across the entire value chain. Taking into account that a significant number of superyacht charter companies are based in Europe, superyacht industry is gaining attention, accelerating the pace to a more sustainable future.

 

 

From the yacht perspective, circular economy relates to the whole life cycle from design to maintenance, reuse of materials, waste management and recycling. Reuse and remanufacturing prolong the lifetime and delay recycling, contributing to significant material resource savings in the form of labour and energy. Main goals also include the reduction of fuel consumption and the elimination of plastic.

 

 

If the above seem distant targets, note that the superyacht industry is already on track with circular economy plans. The Dutch shipyard Oceano wants to achieve 100% renewable energy for its electricity usage and be 100% waste-free or circular across the entire supply change by 2050. Moreover, UK Sailmakers introduced new membrane sails, which do not use petroleum based film as their skin material. Instead, they use organically-derived, cellulous-based films, making the sails recyclable.

 

The new EU action plan must be taken seriously.

 

Are you ready to implement a more circular framework?

 

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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.

Prepare your corporate response to the challenge of achieving the maximum ESG – Sustainability performance potential, by better aligning with all the latest international non-financial reporting recommendations and standards, including GRI and SASB, and TCFD.

 

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