Taking Action

West strives to embed ESG & Sustainability into every aspect of its business. Some of the key elements already shaping our strategy are:

1. Committing to the UN Sustainability Development Goals

West has committed to seven of the Sustainability Development Goals (SDGs), which will act as guiding principles for how we conduct business in a sustainable and responsible way, as well as providing us with a framework to develop, communicate and deliver on our sustainability strategy and goals within our sphere of influence. They help us measure and manage our performance.

Ensure the healthy
lives and promote
well-being for all
at all ages.

Why

How

The key targets of this goal is to facilitate equal right to healthcare, universal health coverage, reduced deaths from hazardous chemicals/pollution and it is the only SDG which deals with mental health.

Mental health and well-being is very important to us. We are striving to support initiatives that promote the overall wellbeing of seafarers, as well as continuously enhancing our support of our staff in this regard.

West, along with all other IG Clubs, has been supporting seafarer physical and mental wellbeing for many years. The importance of these efforts was highlighted during Covid. Ensuring all seafarers were vaccinated became a top priority and we sought to play an active role in returning seafarers safely home during the crew change crisis.’

It is also important for us to provide our Members with the necessary resources to support the physical and mental wellbeing of their seafarers. In light of this our Loss Prevention team has released a series of bulletins called “REACT”, which raise awareness of mental health matters and we have recently launched a YouTube series of short videos “Learn the Ropes” providing guidance on preventing and mitigating the exposure of crew and the environment to pollutants such as hazardous chemicals.

Internally, there is a strong focus on employee wellbeing, with benefits ranging from flexible working arrangements, gym facilities, group social sports activities and mental health first-aiders who have been trained to support employees.

Achieve gender equality and empower all women
and girls.

Why		How
Gender Equality continues to gain prominence in shipping and insurance. Whilst there is still more to be done, West has a strong focus in empowering women and girls for greater gender equality within the sector and internally we look to build on our current positive position.		West is committed to building infrastructure, support and communications channels which enable the acceleration of gender equality within the organisation. Our HR and recruitment processes facilitate a transition to more women in senior leadership. Across all offices, female employees are encouraged to be a part of the Women’s International Shipping & Trading Association (WISTA), an NGO which aims to train, support and encourage more women to join the sector. We have recently launched the West Mentorship Programme, which is open to all employees.

Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.

Why

How

We are fully focused on promoting decent work and economic growth in the marine industry, by providing our staff with a working environment that is characterised by dignity and respect and supporting the work of seafarers via our Members and strategic partnerships.

Our HR policies reflect this focus, providing employees with opportunities for flexible working and life-long learning. Regular in-house training is delivered on a wide variety of current matters in the sector.

Annually, we also host a Member Training Week, offering the more junior staff at our Members a comprehensive insight into the Club’s structure, operations and the risks we underwrite.

Take urgent action to combat climate change and its impacts.

Why

How

We have an important part to play in reducing our own operational carbon footprint and helping our Members to take steps to reduce negative impacts on the environment.

In 2019 we moved our London office into sustainable premises, which monitors the contributors to our carbon footprint.

Following the pandemic, we have continued to offer hybrid working arrangements, which support a transition to a lower operational carbon footprint. We are in the process of adapting our travel policies accordingly.

We also ensure our that teams are fully briefed and receive any required training to enable them to help guide our Members through their transition to decarbonised operations, whether it be the use of new fuel, new technologies or other solutions.

Conserve and sustainably use the oceans, seas and marine resources for sustainable development.

Why

How

By continuing to provide our support, expertise and advice to our Members, we are promoting the protection of our marine environment and reducing marine casualties and pollution.

Healthy oceans are crucial for the sustainability of our planet, and this is also reflected in the charity partners we support.

From wreck removals to oil pollution management, we have the experience and knowledge, delivered through our skilled staff, to help guide our Members through the process.

Furthermore, our partners and correspondents globally work at a local level with the relevant authorities in the event of an incident to assist the Club and our Member in protecting the seafarers on board, the ocean and the local communities.

Two of our strategic partners are the Blue Marine Foundation and the National Oceanography centre. Both NGOs pursue initiatives aligned with ocean health.

Promote peaceful and inclusive societies for sustainable development, provide access to justice
for all and build effective, accountable and inclusive institutions at all levels.

Why

How

We are committed to the promotion of ethical corporate governance and anti-corruption business practices and transparent reporting.

West is an active member of various committees and organisations, including the IG, ITOPF, BIMCO, the UK Chamber of Shipping, UN Global Compact working collectively to add value and strengthen these partnerships.

A successful development agenda requires
inclusive partnerships - at global, regional,
national and local levels - built upon principles
and values, and upon a shared vision and shared goals, placing people and the planet at the centre.

Why

How

At West we believe in the power of building strong partnerships.

With the constantly evolving maritime landscape in which shipowners must operate, greater collaboration is important to be capable of addressing our Members’ needs.

2. The Creation of an ESG Department
& ESG Committee

An ESG Manager has been appointed to lead the Club’s strategy, looking at both the way in which the organisation can move towards becoming more sustainable and widening ESG practices, as well as the role we can play in supporting our Members and other stakeholders.

To support this role, West has also created an ESG Committee from across our business with a broad geographical, gender and hierarchical representation, who help develop our framework and policies.

3. Reduction of Operational Carbon Footprint

West has initiated the process of performing an assessment to produce a carbon emission report for all our offices, which will be used as a benchmark to explore further options and solutions to move towards reducing our carbon footprint further.

4. West Mentoring Programme

West has launched a mentorship programme, which is open to all employees across our offices. The primary objectives of the West Mentoring programme will be to:

support induction of new members of staff and the
transition of existing members of staff into new roles
foster collaboration across the Club and knowledge
sharing between departments
better support succession planning
promote the development of new skills
enable staff to realise career development plans

The mentorship programme has been formulated as an effort to invest further in our people and empower all employees through their career progression. We also hope to use this initiative to empower the younger generation and create the opportunity to build a better infrastructure for gender equality.

5. Zero Tolerance to Greenwashing

UN Secretary General Antonio Guterres stated in the report launch at COP27 in Egypt: “We must have zero tolerance for net-zero greenwashing.”

At West, we commit to the accuracy of our sustainability and ESG communications and by leading by example, we hope to encourage our Members to do likewise.

In alignment with the UN panel’s recommendation to avoid greenwashing, we are working on a transition plan with targets, as well as increased transparency and accountability across our operations.

6. ESG Investing

As a long-term institutional investor, the Club’s acknowledges it can contribute to transitioning to a more sustainable world by deciding how to invest its financial assets.

While ESG considerations were historically factored by the Club and its investment managers from a risk management perspective, the Board of the Club agreed a dedicated ESG strategy in April 2022 aiming at improving the ESG profile of the Club’s Investment Portfolio, while preserving the potential for return.

The following actions with regards to its investments have been in place since July 2022:

The appointment of investment managers is restricted to those who are signatories of the UN Principles for Responsible Investing (“PRI”).
Dedicated ESG guidelines have been included into discretionary mandates and within the Club's Equity investments. These guidelines combine sectors' exclusion and ESG rating objectives.
When investing in investment funds, the Club will select strategies with dedicated ESG guidelines consistent with the Club’s ESG implementation (except if not relevant or available).

7. Governance Matters

West is committed to the promotion of ethical business practices and to providing a working environment that is characterised by dignity and respect for all its staff.

The Manager’s Employment Handbook and its Diversity and Inclusion Policy illustrates its commitment to ethical and legal employment practices and its staff are fully informed as to the rights and protections afforded them by the law. Staff are also provided with training on key compliance issues and advised of the code of conduct that they are expected to adhere to. Additionally, there is a Whistleblowing Policy which affords staff the opportunity to report any concerns they might have with the business’s compliance with applicable laws and ethical standards.

The Manager’s policies and procedures relating to recruitment, money-laundering, bribery and corruption, sanctions, conflicts of interest and whistleblowing are designed to ensure that its business and those of its suppliers are conducted ethically and in accordance with all applicable laws.

West’s key suppliers are firms providing professional services and these firms, as with all of its suppliers, are carefully checked and screened to ascertain whether there is any record of their involvement in unacceptable business practices which would prevent West from doing business with them. The Managers will continue to review and monitor its suppliers and update and improve its policies and procedures to ensure that both its business and those of its suppliers are not implicated in modern slavery or human trafficking in any way.

Additionally, West has become a partner of the Maritime Anti-Corruption Network (MACN), highlighting our ongoing commitment to the highest standards of ethical behaviour and being part of a collective initiative to eliminate maritime corruption.