MPA to co-fund SGX-listed maritime companies to encourage the maritime sector on becoming early adopters of sustainability reporting.

Maritime and Port Authority of Singapore (MPA) organised a Maritime Sustainability Workshop in M Hotel on Monday 22nd August 2016 where Paia was proud to showcase its work. The purpose of the workshop was to assist and encourage the maritime sector to embrace the new SGX requirement for Sustainability Reporting. SGX’s new sustainability reporting rules require listed companies to publish sustainability reports. Ms Yvonne Chan, MPA’s Director of Corporate Development and Chief Financial Officer, announced a new co-funding initiative to assist SGX-listed maritime companies in Singapore with the production of their Sustainability Report.

MPA will co-fund 50% of the qualifying costs, up to a cap of $50,000 per company.  The funding to the first 10 approved applications is on a reimbursement basis.

Mr Andrew Tan, Chief Executive of MPA, said, “MPA is the first local maritime organisation to publish both an Integrated Report and Sustainability Report last year, and we hope to encourage the rest of the maritime industry to adopt the best practices and mitigate any risks to the environment arising from their operations. The so-called triple bottomline – people, planet and profits – will enhance their shareholder value.”

Source: Maritime and Port Authority of Singapore encourages SGX-listed maritime companies to adopt Sustainability / Integrated Reporting