Chowgule & Co partners with Lloyd’s Register for ESG strategy

The report draws on 2023 operational data from Chowgule’s four shipyards in India, which include three owned and one leased facility, as well as its EPC division.

Developed in line with the Global Reporting Initiative (GRI) Standards, the report offers a transparent framework for evaluating and communicating the company’s sustainability performance. It also incorporates Sustainability Accounting Standards Board (SASB) standards relevant to the marine transportation and industrial machinery sectors.

The report reflects the outcomes of a materiality assessment conducted by Lloyd’s Register, which engaged both internal and external stakeholders to identify Chowgule & Co.’s most significant ESG issues. This approach ensures the report addresses stakeholder priorities and expectations.

Chowgule & Co plans to use the report’s findings to integrate ESG principles into its core business strategy and decision-making processes. The company aims to enhance stakeholder engagement, establish measurable ESG targets, monitor progress, and adopt emerging technologies and best practices to improve its environmental and social footprint.

Ambrish Bansal, senior vice president and global l#]ead for management consulting at Lloyd’s Register, commented on the initiative: “Chowgule’s first ESG report demonstrates its forward-looking approach to sustainability. By embedding ESG principles, the company is not only strengthening its operational resilience but also setting a benchmark for the maritime industry.

“Lloyd’s Register is dedicated to supporting businesses in their sustainability transitions. Through this collaboration, we have developed a comprehensive ESG programme tailored to Chowgule’s needs, helping drive positive change across the maritime sector.”

Arjun Chowgule (pictured), executive director of Chowgule & Co, emphasised the alignment of this initiative with the company’s vision: “Sustainability is central to our mission. Our partnership with Lloyd’s Register allows us to amplify our environmental and social impact while enhancing governance frameworks.

“This initiative reflects global sustainability trends, supports compliance with evolving regulations, and reinforces Chowgule’s commitment to reducing environmental impacts, fostering community well-being, and upholding ethical business practices.”