NIBC supports improved standards for responsible ship recycling

New and improved standards have recently been adopted by the Responsible Ship Recycling Standards (RSRS) initiative. Recycling of a ship at the end of its lifecycle poses the largest social and environmental risk challenges for the industry. Therefore the RSRS aim to promote responsible ship recycling and minimise the dangers associated with hazardous materials on board of ships.

The new standards build on existing international regulations and accepted standards. One of the main changes is the expansion of the scope of the RSRS with mobile offshore units, such as oil and gas platforms. Also, promoting and respecting human rights, including labour rights, is better reflected in the standards.

RSRS members

NIBC was involved from the start when RSRS was founded, together with several other financial institutions. The RSRS has grown to twelve members since, together representing major European ship financiers. These RSRS members commit on a best efforts basis to implement RSRS into their internal ESG policies, procedures and standards for the financing of shipping assets.

Michael de Visser, Head of Shipping at NIBC:

“As one of the founders we are very pleased that the new and improved standards have been adopted by the RSRS initiative. We welcome new members to this initiative as its success depends on the adoption of these standards by the financial industry when financing shipping assets. It creates a level playing field in which financiers are increasingly able to make an positive impact on the shipping industry and the environment.”

To learn more about the Responsible Ship Recycling Standards for banks, download the document on the right on this page or the RSRS Linkedin page.