In this first episode of ESG in the Arctic, we will explore Ocean Conservancy’s Arctic Corporate Shipping Pledge. With the Arctic warming three times faster than the rest of the world, the melting ice opens up new pathways for trans-shipment routes. According to Ocean Conservancy, increased shipping traffic poses threats to marine ecosystems. In response, the pledge asks corporations to avoid Arctic Trans-Shipment routes and promote precautionary Arctic shipping practices.
The pledge has been signed by several corporations, including Nike, H&M Group, Li & Fung. Hapag-Lloyd, and Mediterranean Shipping Company.
However, what kinds of implications could such a pledge have, especially concerning the communities living in the Arctic? How might it affect the Arctic’s future investment opportunities? Today we’re pleased to welcome Whit Sheard to Breaking the Ice. Whit is the Senior Director of Shipping Emissions at Ocean Conservancy and the lead for Ocean Conservancy’s International Arctic Program. Together, we discuss the origins and aims of the pledge, Ocean Conservancy’s collaboration with Nike, and the possible implications of the pledge.