Taking a full ESG lens approach to this answer, I would say that, on the E side, you will see more vessels on the water in 10 years powered by alternative fuels such as methanol, hydrogen, ammonia, renewable natural gas and blends of bio or renewable diesel, for example. These zero or low-emissions vessels will be transporting people and goods into increasingly electrified and automated ports.

I would also add autonomous vessels to fleet, operating on designated shipping routes across the globe, and moving cargoes and passengers to and from the world’s busiest ports. On the Social side, you will see a more diverse, equitable and inclusive workforce using the latest technologies to make their jobs more efficient with real-time metrics reporting back to data centers for both customers and decision makers within the company.

As far as Governance is concerned, you will see robust climate risk modeling and fully mature operational resilience plans to make sure key business operations continue to function smoothly and efficiently. Physical and transitional climate risk will only continue to increase dramatically in the next decade. To keep the world’s goods and commodities moving and preserve international economic stability, our industry will need to be ready.

In the short term, Crowley’s primary challenge will be data – both automation and digitization. As a portfolio-based, global company operating in more than 36 countries and island territories with more than 5,600 full-time employees as well as hundreds of vessels, trucks and facilities, we must digitally transform and automate our ESG data. Rather than getting bogged down in manual compilation of ESG data year after year, Crowley will need substantial investment in both our people and in technology.

This is why Crowley is leveraging automation tools such as the Salesforce Net Zero Cloud, establishing deep partnerships across our entire value chain and investing in our people to build a workforce that is well-versed in data science, analytics and cloud computing. Ultimately, Crowley needs to produce real-time ESG data to drive decision making and accurately gauge our progress.

Crowley is investing heavily in its workforce, including those we hope to recruit in the future. This is why Crowley has established a world-class partnership and endowment with the University of North Florida’s Coggin School of Business to create the Crowley Center for Transportation and Logistics. To establish talent pipelines as far upstream as possible. While investing heavily in upskilling our workforce in the digital skills of the future, Crowley can’t afford to neglect equally important skills and knowledge – especially as they apply to such crucial concerns as emerging climate-related environmental and financial regulations, greenhouse gas accounting, ESG reporting, zero or low-emission alternative fuels and the latest marine propulsion technologies.

The lines between ESG expectations for public and private companies are becoming increasingly blurred. Crowley should expect to be held to the same standard when it comes to ESG, whether by investors, insurers, customers or employees. This means taking a fresh look at our governance structure and how Crowley manages enterprise risk. With our topmost issues focused around GHG reductions, talent, diversity, employee safety and innovative customer solutions, Crowley will need to implement strong governance structures to provide strategic direction and instill accountability. For this reason, in 2021 Crowley established a Sustainability Steering Committee (SSC) whose membership includes the company’s most senior leaders.

The SSC is committed to taking action and instilling accountability across the entire enterprise to include our foremost material ESG issues. Looking to the future, Crowley will foster a broader and more structured organization around enterprise risk that will incorporate emerging threats such as cyber, far-reaching regulations and the physical and transitional elements of climate risk.

Crowley has set forth a goal of net zero by 2050 across all emission scopes aligned with 1.5 °C science-based target goal. This commitment must be met with equal action and ambition from our stakeholders and customers. Reducing our Scope 1 emissions will result in direct Scope 3 emission reductions attributable from our customers’ supply chains.

Crowley is also committed to deep engagement with our vendors and suppliers throughout our entire value chain. The company wants to work closely with them to determine where mutual goals around ESG can be met. This will include globally recognized value chain evaluation tools, as well as a review of Crowley’s Supplier Code of Conduct and other terms and conditions, to foster better alignment around sustainability and inform vendor selection in the future. I overheard at a national shipping conference recently that “collaboration is the new fuel.” I couldn’t agree more.