Transworld Group has recently unveiled its sustainability report (SR) for the fiscal year 2022-2023. Entitled “Leading by Values, Built on Trust,” this marks the company’s second SR and details its initiatives in the Environmental, Social, and Governance (ESG) domains.
Transworld Group stands as one of the leading global providers of Shipping & Logistics Solutions, boasting a robust presence through a network exceeding 40 offices worldwide and a team of over 1,000 experienced professionals. Since its establishment in 1977, Transworld Group has been headquartered in the Jebel Ali Free Zone (Dubai, UAE).
The group’s activities encompass Ship Owning & Management (Container, MPP, Bulk Carriers & Tankers), Supply Chain Management, Warehousing, Road Transportation, Air Freight, Freight Forwarding, Feeder Services, as well as Liner and Shipping Agencies (Container, Bulk, Tankers, Break Bulk, Project Cargo, etc.).
Following GRI and SASB standards, the sustainability report aligns the company’s key issues with the United Nations’ SDGs. Highlighted in the report are significant initiatives, including the implementation of ESG KPIs using a balanced scorecard and a sustainability survey for suppliers. Compared to the previous fiscal year, the Group reported a 6.45% reduction in Scope 1 emission intensity and a 5.4% decrease in energy consumption.
The company has also pledged to achieve carbon neutrality by 2043 and will conduct Carbon Intensity Indicator (CII) assessments for all its vessels. The Group’s five-year vision for 2023-2027 aims to empower a minimum of 250,000 individuals through its CSR programs and volunteering efforts in areas such as marine environment stewardship, health, food, and water security, arts, education, civic engagement, as well as gender diversity and equity.
“This report stands as a testament to our steadfast commitment to our ESG roadmap, showcasing the combined efforts of every member of our organization. As we introduce this report, we recognize the importance of integrating sustainability and ESG considerations into every aspect of our organization, from our core purpose to governance, strategy, decision-making, risk management, key performance indicators, and accountability reporting,” stated Ramesh S. Ramakrishnan, Chairman, Transworld Group.
“Our second Sustainability Report, aligning with global standards such as the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), United Nations Global Compact (UNGC), and United Nations Sustainable Development Goals (UNSDGs), meticulously assesses our progress across various critical indicators, including greenhouse gas emissions, employee diversity, community engagement, and governance structures,” added Ramesh S. Ramakrishnan.
“We’ve made notable progress by completing the Vendor Sustainability Survey, a key initiative to assess the sustainability efforts of our value chain partners. Through this collaborative effort to gather insights, we’re developing a strong strategy to achieve common sustainability objectives. This initiative demonstrates our dedication to promoting sustainability throughout our entire network,” he elaborated.
