Sustainability

Skuld's purpose statement 'Protecting ocean industries' underlines our role in society and our commitment to members and clients and to the global ocean industries. Our compliance and expertise ensure a caring approach to environmental, social and governance risks in the marine world. Today, our commitment also includes an awareness of climate challenges and the need for sustainable development. We support decarbonisation initiatives, and continuously build knowledge within the organisation, partnering with our members and clients on these matters.

Our Sustainability focus areas

Environment

Environment

Skuld supports shipowners and charterers in the transition to net zero carbon emissions.

Social

Social

Achieving and sustaining an inclusive and diverse culture is one of Skuld's four strategic objectives.

Governance

Governance

Good corporate governance and a solid internal framework is firmly embedded throughout our organisation.

Annual report 2023/24

Annual report 2023/24

Our annual report includes both financial- and sustainability reporting. This is the fifth year we report in accordance with core GRI (Global Reporting Initiative) standards, underlining our commitment to sustainability. Our report covers activities and initiatives during our reporting year 2023/24, referring to areas of material importance to Skuld and our stakeholders.

Our commitments

                  Skuld has signed the Poseidon Principles for Marine Insurance, a global framework for assessing and disclosing the climate alignment of insurers’ hull and machinery portfolios. They enable the insurance sector to implement transparency and they establish a common, global baseline to quantitatively assess and disclose the alignment of the insurers’ shipping portfolios with climate goals.
           
          Skuld is a mission ambassador for Maersk Mc-Kinney Moller Center for Zero Carbon Shipping. The partnership will further support and promote our common goal of securing and providing tomorrow’s zero carbon shipping solutions.

           

 

       
Skuld is partner to The Green Shipping Programme (GSP), a public-private partnership, aiming to advance the Norwegian government’s maritime strategies and plans. The programme’s vision is to develop and strengthen Norway’s goal to establish the world’s most efficient and environmentally friendly shipping.Since becoming a partner in 2021, Skuld has participated in two ammonia related pilots; Green Ammonia Powered Bulk Carrier and Ammonia powered tanker.
           
         
Skuld is committed to the initiative ‘Getting to Zero 2030 Coalition’ that was launched at the UN climate action summit 2019 in New York.The coalition is a partnership between the Global Maritime Forum, the Friends of Ocean action, and the World Economic Forum with over 160 member companies (as of August 2022).By 2030, the coalition is committed to launch commercially viable deep sea zero emission vessels powered by zero emission fuels.
           
          Skuld’s membership of the Maritime Anti-Corruption Network (MACN) acknowledges the importance of contributing to the elimination of corruption. We believe that the collective action of the MACN network will have a positive impact for the maritime industry. The network has more than 180 member companies who own or operate commercial vessels or are part of the maritime value chain.
           
          Skuld is a signatory to the Neptune Declaration on Seafarer Wellbeing and Crew Change. This important declaration defines four main actions to facilitate crew changes and keep global supply chains functioning, contributing to the well-being of seafarers.

ESG in practice

ESG in practice' is a new series of articles where Skuld colleagues focus on how Skuld meets the industry's transition to a more sustainable future. In an increasingly complex world, Skuld is dedicated to delivering on activities and initiatives that unlock Environmental, Social and Governance value for ocean businesses.

The evolution of underwriting

The evolution of underwriting

Skuld's Senior Executive, Underwriter and Decarbonisation Coordinator, Matias Bøe Olsen assesses how underwriters can help create certainty and trust in tomorrow in uncertain times.

Sustainable casualty handling in Skuld

Sustainable casualty handling in Skuld

Skuld's Vice President, Casualty and Major Claims Nina Hanevold-Sandvik has her sights set on a journey of continual improvement in the context of sustainable casualty handling.

Mental health and well-being at sea

Mental health and well-being at sea

Skuld's Global Head of Loss Prevention, Geir Hudø Jørgensen, discusses mental health and well-being at sea. How can Skuld members safeguard the well-being of the seafarers?

Transparent benefits – putting human rights on the radar

Transparent benefits – putting human rights on the radar

Skuld's Chief Compliance Officer Vincent Gustavi explains how The Norwegian Transparency Act gives the entire industry "a taste of things to come", shining the regulatory spotlight on the S in ESG and the crucial issue of safeguarding human rights.

"This is a clear commitment to the future from Skuld. The world needs a healthy ocean – but also a productive, responsible utilisation of its resources – if it is to survive and prosper. I believe the maritime and ocean industries have a pivotal role to play, and the insurance segment, with its data, experience and expertise, can help them deliver upon that potential."

Ståle Hansen, President and CEO

A strategic initiative

Sustainability is one of Skuld’s strategic initiatives and we are running a programme which includes development targets and activities within relevant Skuld areas. The programme, is supported by Skuld’s Board and management, and is integrated in core business processes; Claims, Loss Prevention, Underwriting, Legal, Finance and HR and Communication. We have established robust KPIs and targets which will be followed up and reported on.

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 our commitment to sustainability, Skuld focuses on five key SDGs:

Skuld works to improve the health and safety of crew and employees during their working hours and beyond.

Reduced inequalities
Reduced inequalities

Skuld promotes diversity and gender equality, internally and externally.

Climate action
Climate action

Skuld integrates climate-change measures into our strategy, decision-making, underwriting, and investment practices.

Life below water
Life below water

Skuld encourages resource-sensitive behaviours.

Peace, justice and strong institutions
Peace, justice and strong institutions

Skuld acts against corruption and bribery in all their forms.

Contacts
Skuld’s Sustainability Working Group (SWG) is represented by members from all our main functional and business areas. The group ensures Skuld contributes to the UN SDGs through a wide range of activities. This way, sustainability has been fully integrated into Skuld’s core business approach, daily operations, and organizational ethos. Additionally, we ensure a robust awareness of sustainability among all members of the Skuld family. These are our main points of contact:
  • Anna Erlandsen

    Chief Strategy and Sustainability Officer

    Office phone +47 22 00 22 16
    Mobile phone +47 970 04 213
  • Admir Mesic

    Vice President, Head of Sustainability

    Office phone +47 22 00 24 99
    Mobile phone +47 908 39 758
  • Matias Bøe Olsen

    Senior Executive, Underwriter and Decarbonisation Coordinator