PBS International Celebrates International Shipping Week
From 13 to 17 September, global shipping industry leaders and high-level government members are gathering in London and virtually to celebrate London International Shipping Week 2021 (LISW21).
The week has seen a number of events, with speakers at the Headline Conference discussing topics in shipping and maritime, including government and academia. The conference also has a special gala and reception dinner held at the Royal Museums Greenwich.
As a leading international freight forwarder, PBS International has been closely following the happenings of the conference.
What Are the themes for LISW21?
The theme for the conference this year is “Driving growth and recovery in a disrupted world”. Events will be focused on how factors around environment, social, and governance have come together to propel trade, even when the world has been shocked by the Covid-19 pandemic. There will be a focus on trade, finance, technology and people throughout the week’s events.
Environment
The shipping industry is looking towards COP26, the 26th UN Climate Change Conference of the Parties, which will be held in Glasgow later in the year. With this, industry leaders must look at how climate-aligned finance, government policy and technology can create a sustainable and economically viable future for the shipping industry. There is currently a spotlight on decarbonisation and digitisation for all industries, and shipping must do its part or get left behind.
With these changes, the regulations and legislation around shipping will have to be revised and rewritten. The conference is aiming to look into who will be setting these new targets and how they will be financed and measured.
Social
When the world paused as a result of the Covid-19 pandemic, we saw how vital shipping and our crews were in the global supply chain. We learned how important it is for businesses to be agile and flexible, and the changes the shipping industry needs to make for the future.
We’re seeing how changes in cultural, demographic, and wealth trends are affecting global trade more and more. The conference is looking into how these drivers will determine growth and recovery as the market moves forward.
We’re seeing how the pandemic highlighted issues and shortcomings in all sorts of industries and shipping is no different. Innovation will be the key to solving these problems.
Governance
The conference will be looking at how transparent governance may be the new necessity for shipping. Investors are increasingly looking for clear policies which support the required environmental and social changes in the industry and without it, they may look elsewhere. The conference will also be investigating who exactly can settle the debate of what constitutes “better governance”, and when we can expect poor governance to no longer be accepted.
Speakers will delve into whether shipping will be able to adapt to deliver the new governance standards that investors expect. Or, whether the regulation within the industry will need to change to achieve this.
Who is speaking at LISW21?
With the emphasis on environment, it’s no surprise that the conference will be attended by global experts in sustainability and climate change. Speakers include individuals from the Environmental Defense Fund, Climate Champions, and COP26.
To discuss matters around sociological challenges, speakers include individuals from Social Enterprise UK, the International Transport Workers’ Federation, and the international Chamber of Shipping.
Issues around governance, investments and finances will be discussed with speakers from Taylor Maritime Investments, Marine Capital and the global investment bank Citi.
Roundtables and networking events have also been held by Government representatives. These include the HMG Ministerial Roundtable with Industry Leaders held by the Department of Transport, and the drinks reception held by the Secretary of State for Wales to discuss how the maritime sector is working towards net zero in Wales.
Why is LISW21 important?
A new study has recently revealed that the maritime industry contributes £56.4 billion per year to the economy. These figures from 2019 showed a 19% increase from the previous figures from 2017. The study reveals just how important the maritime and shipping industries are to the economy.
The LISW21 is an opportunity for global shipping and maritime industry leaders and government officials to come together to discuss the future of the sector, as well as promoting Britain’s place as a natural home for maritime. From these discussions, the shipping industry can grow economically, become more sustainable, and improve policy.
PBS International is proud to be an international freight forwarder based in Britain, the global heart of maritime. We go the extra mile to care for our customers and our team members are trained to the highest standard with the most up-to-date industry knowledge. The world is changing and PBS will always adapt to match the world.