Pratik Bijlani –
On August 8th, the Company of Master Mariners of India (CMMI) held its monthly meeting in its Mumbai office. These CMMI Monthly Meetings are crucial for India’s maritime industry, providing a forum for master mariners, maritime professionals, and industry stakeholders to address current challenges, share insights, and encourage professional networking. The August meeting was an important event, with a presentation by Ms. Smita Shetty, Achilles’ Regional Director APAC and a founder member of the India branch. Her lecture focused on how Achilles helps maritime firms fulfil their Environmental, Social, and Governance (ESG) objectives.
Achilles, a global pioneer in supply chain risk management and procurement, provides services that help companies, especially those in the shipping industry, achieve their ESG objectives. Ms. Shetty’s talk described how Achilles supports ethical and sustainable supply chains by linking customers and providers via its platform. Achilles provides rigorous sustainability assessments that consider environmental effect, social responsibility, and governance procedures. This enables shipping businesses to select suppliers who share their ESG objectives and assure compliance with international legislation and standards.
Achilles also encourages transparency by giving transportation businesses detailed information about their suppliers. Transparency is critical for boosting ESG performance because it allows firms to properly monitor and manage risks throughout their supply chains. The software also helps organisations prevent potential ESG issues by verifying compliance with international norms and legislation. Achilles also promotes industry collaboration by encouraging the sharing of best practices in ESG, allowing organisations to learn from one another and execute effective ways to meet their ESG targets.
Ms. Shetty emphasized the growing importance of ESG, noting that it has evolved from an investment-led decision-making process to a broader concern driven by consumers and regulators. She emphasised the growing desire for organisations, particularly in India, to assess their own ESG performance and that of their supply networks. She highlighted that global supply chains are under heavy examination, particularly in the Asia-Pacific region, with governments implementing new transparency and due diligence regulatory frameworks, such as India’s BRSR Core.
During her speech, Ms Shetty stated, “Historically, for customers who have signed up with us, have actually seen that they’ve recovered much more than they’ve invested,” referring to a 2024 study by Wharton Business that found a 9.2% year-on-year increase in sales for companies that have adopted ESG. She also emphasised the necessity of firms reaching their ESG targets before legislation catches up, highlighting Achilles’ proactive approach.
The event concluded with a Q&A session, which allowed attendees, both online and offline, to interact directly with Ms Shetty and other maritime experts in attendance. The seminar emphasised the importance of ESG in the marine sector, as well as Achilles’ role in assisting companies in navigating this increasingly vital area.
Marex Media