Our approach to governing sustainability

The six pillars are mutually reinforcing. Internal sustainability projects and ESG risk assessments feed into our broader partnerships with industry organisations, ensuring Skuld remains aligned with both regulatory expectations and recognised best practice in the maritime sector.

1. Selected UN Sustainable Development Goals 

The 17 UN SDGs constitute a universal call to action to end poverty, protect the planet, and improve the lives and prospects of everyone, everywhere. As part of Skuld’s commitment to sustainability, Skuld places particular emphasis on five key SDGs:

2. Stakeholder co-operation

In co-operation with employees, members, clients, brokers, correspondents, authorities, industry organisations, and suppliers, Skuld contributes to multiple sustainability initiatives.

3. Skuld sustainability projects and initiatives

Skuld’s sustainability working group spans all departments and key organisational functions and is dedicated to a range of sustainability projects and activities, both internal and external.

4. Continuous ESG risk assessment

Skuld leverages data and analytics to enhance its understanding of physical and transition climate risks, key social impacts, and the governance structures and processes that support effective risk management.

5. Global ESG regulations and requirements

Skuld closely monitors developments in the regulatory landscape for environmental, social and governance (ESG) risk assessment and reporting, and continuously adapts its approach to remain aligned with emerging expectations and recognised best practice.

6. Partnerships

Skuld participates in several voluntary initiatives relevant to its role as a marine insurer and to the challenges facing the maritime industry. These engagements support work on climate-related risk, safety, operational standards, and social responsibility, and provide platforms for collaboration, learning, and the sharing of practical experience with industry peers and stakeholders.

Together, these governing elements form a platform that guides decision-making and creates a coherent foundation for our sustainability commitments to stakeholders.

Skuld is committed to transparent and consistent reporting on sustainability matters, reflecting both regulatory expectations and the needs of our stakeholders.

We report annually through our integrated report, where sustainability is presented alongside financial performance to provide a holistic view of our activities, risks, and long-term value creation. Our disclosures are aligned with the Global Reporting Initiative (GRI), supporting comparability and transparency across environmental, social, and governance topics.

As a participant in the UN Global Compact, we publish an annual Communication on Progress (COP) that outlines how we implement the 10 UNGC principles on human rights, labour, environment, and anti-corruption.

We also align our reporting with the Voluntary Sustainability Reporting Standard for SMEs (VSME), ensuring a structured and proportionate approach that reflects our size and complexity while supporting readiness for evolving regulatory requirements.

Through these frameworks and reporting standards, we aim to provide clear, reliable, and decision-useful information on our sustainability performance and priorities.

Maintaining open communication and fostering transparent relationships with key stakeholders is essential to Skuld. Their feedback and insights provide valuable guidance for strategic decisions and continuous operational improvement. Skuld engages with ten stakeholder groups across five categories, each with structured engagement formats tailored to the nature of the relationship.

Members, clients and brokers

We stay close to our members, clients and brokers through regular communication, meetings and events, supported by annual, half-year and quarterly reporting.

Industry organisations

Through memberships in international and Nordic marine insurance organisations, we contribute to committees, forums, and expert groups that shape the industry.

Reinsurers

We maintain strong relationships with our reinsurers through regular communication, contracts, meetings and declarations.

State and regulatory authorities

We work with state and regulatory authorities through regular reporting, auditing and close cooperation in the event of casualties.

Executive management and governing bodies

We engage our executive management and governing bodies through annual general and board meetings, committee and information meetings, and our internal platform, Skuld Port.

Skuld sustainability working group

Our sustainability working group comes together through regular meetings and workshops.

Employees

We stay connected with our employees through everyday communication, surveys, regular meetings and performance reviews, employee representation, work environment committees and risk assessments.

New professionals

We invest in new professionals through talent and trainee programmes, mentorship and collaboration with YoungShip.

Suppliers and correspondents

We work with our suppliers and correspondents through contracts, a suppliers' code of conduct, due diligence and sustainable casualty handling.

Affected communities

When incidents occur, we communicate directly with the governments and private parties affected.

Nature/ocean

Our engagement with nature and the ocean runs through several partnerships and initiatives.