Chowgule, Lloyd’s Register collaborate to enhance first ESG report

Chowgule & Co., India’s premier shipbuilding and engineering

strategy.

The report, which to be released this month, will draw on 2023 operating

data from Chowgule’s four Indian shipyards (three owned and one leased), as well

as its EPC division.

It was created in line with the Global Reporting Initiative (GRI)

Standards, which provide a clear and reliable framework for evaluating and

disclosing the company’s sustainability performance.

It additionally includes Sustainability Accounting guidelines Board (SASB)

guidelines designed expressly for maritime transportation, industrial machines,

and products industries.

This initial report outlines the findings of a comprehensive materiality

evaluation undertaken by LR, which included both internal and external

stakeholders.

This methodology identified Chowgule & Co.’s most critical ESG issues,

ensuring that the report fulfills its stakeholders’ concerns and

expectations.

Building on the report’s suggestions, the company intends to completely

incorporate ESG factors into its whole business strategy and decision-making

processes.

Ambrish Bansal, Senior VP and Global lead Management Consulting at Lloyd’s

Register, said: “By integrating ESG principles, the company is not only

enhancing its operational resilience but also setting a benchmark for the

maritime industry.”

Arjun Chowgule, Executive Director, Chowgule & Co., stated: “This

initiative aligns with global sustainability trends, ensuring compliance with

evolving regulations and reinforcing Chowgule’s dedication to reducing

environmental impact, promoting community well-being, and maintaining ethical

business practices.”

In October 2024, LR and HD Hyundai Heavy Industries (HHI) signed an

approval in principle (AiP) for a 15,300 TEU Class ammonia-powered dual-fuel

containership under a joint development project (JDP).