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Social Change Is Central To Economic Growth, First ‘London Talks’ Hears

Shipping is a critical part of global trade and drives an almost unquantifiable level of positive social change which the maritime community should all be proud to be part of, according to dry bulk specialist Steve Davies.

But an appreciation of the full scope of the ‘social’ element of corporate governance is crucial in order to effect that change and drive growth in a changing world, he advises.

Presenting the first in an informative series of London Talks videos which herald the start of the run up to London International Shipping Week 2021 (LISW21), Mr Davies, Chief Executive Officer of London and Cardiff-based dry bulk ship owner Anglo International, gave a thought-provoking insight into the ideas he aims to explore this September.

Mr Davies is set to chair a panel discussion on the ‘social’ aspect of environmental, social and corporate governance (ESG) during LISW21’s Headline Conference on Wednesday September 15. Taking place in person at the London headquarters of the International Maritime Organization, and incorporating a strong virtual element for delegates unable to travel, the Headline Conference takes the theme: Driving Growth and Recovery in a Disrupted World.

Driving growth is about challenging ourselves and listening to others along the way, says Mr Davies who believes that “almost everyone along the supply chain would like to know that what they are doing is driving positive social change in a sustainable way,” including capital markets, charterers, owners, employees and suppliers.

He points to Covid-19 as a tremendous test faced by the world and the international shipping industry. “The Covid-19 pandemic has lifted the groundswell of ESG to a new level because a complex combination of political, economic and social drivers have each faced significant additional disruption as a result,” he said.

Explaining that the pandemic has acted as a catalyst around the globe he advised that social disruption is building opportunities to effect positive change and generate business value. “Social, as one of shipping week’s sub-themes, is currently stepping up its prevalence in the ESG mix as we look to shape growth and recovery,” he stated.

Anglo International Shipping Group is a provider of tonnage in the panamax and post-panamax dry bulk segment and Mr Davies peppered his talk with a number of shipping analogies such as outlining that, in order to make meaningful progress on ESG objectives, “we need the certainty of a long-term time charter not the volatility of the spot market”.

Looking forward to discussing these issues further with his fellow panellists at LISW21, Mr Davies concludes: “If social values are seeing a significant disruption, we as business leaders should see the opportunity. We’d better take note and drive growth accordingly because resistance is not only futile, it’s arguably immoral.”

London Talks can be viewed by clicking https://londoninternationalshippingweek.com/london-talks/

London International Shipping Week 2021 runs from September 13 to 17, 2021. For more information see the dedicated event website: www.londoninternationalshippingweek.com
Source: London International Shipping Week 2021

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