ESG data software company Diginex Solutions announced a new partnership with leading oil product tanker owner and operator Hafnia for the development of an ESG reporting tool for the shipping industry.

The partners are kicking off their collaboration with a joint study aimed at creating an ESG reporting framework tailored to the nuances of the industry, helping organisations easily benchmark and measure their performance against peers. The study will examine the key disclosures relevant to the maritime industry, selecting from best-practice frameworks, including the United Nations Sustainable Development Goals (SDGs), Sustainability Accounting Standards Board (SASB), the Task Force on Climate-related Disclosures (TCFD), as well as bespoke indicators specific to maritime trade.

Shanker Pillai, Head of Innovation & Change at Hafnia, said:

“As ESG reporting is becoming more common among listed companies, it is also becoming increasingly difficult to stay on top of all the changing regulatory frameworks. Moreover, the challenge of collecting and reporting data manually loom large. By partnering with Diginex Solutions it will be easier to track and measure our progress on our sustainability commitments.”

The initiative follows the recent launch by Diginex of DiginexESG, a blockchain-enabled ESG reporting platform, aimed at facilitating the reporting process, and providing a single resource for an organisation to record, report and verify its data with full transparency and security. Hafnia stated that it hopes to automate and improve its ESG data management and reporting using DiginexESG

Mark Blick, CEO at Diginex Solutions, said:

“Organisations are under increasing pressure to provide investors more ESG-related details. For the maritime industry, this process often take a considerable amount of time, huge consultancy fees, and extensive resources, making ESG documentation incredibly expensive. Our plans to launch a maritime focused version of the platform will further remove the burden of manual reporting while providing a cost-effective solution for industry players. It is our mission to improve tracking and reporting of ESG data, making processes 6 times faster and 90% cheaper than existing tools.”