GT-based reinvestment programme launched to aid ocean conversation

Several of the industry’s most renowned shipyards have committed to a structural approach for reinvestment into the protection and regeneration of the oceans. The 16 shipyards will be contributing €1 per gross ton that they deliver in 2021.

Abeking & Rasmussen, Ameryachts, Baglietto, Feadship, Gulf Craft, Heesen Yachts, Horizon Yachts, Lürssen Yachts, Oceanco, Royal Huisman, Sanlorenzo, Silveryachts, Southern Wind, Tankoa, Turquoise Yachts, and Vitters are the first shipyards that will be reinvesting based on the Gross Tonnage (GT) of yachts they deliver.

Water Revolution Foundation stated that in order for the superyacht industry to prosper, real investment in the environment is required. This commitment represents a first step in the market’s evolution from PR-based sustainability to sufficient change.

Dr Vienna Eleuteri, initiator and sustainability scientist at Water Revolution Foundation, said, “We need to stop speaking about philanthropy or compensation because it is reductive. This commitment is designed to protect our reason why. The superyacht industry’s future is reliant on a healthy ocean, if we don’t protect our most important resource, the natural capital, businesses will fail.”

For each new yacht delivered, the shipyards involved in the programme will match the gross tonnage in euros and reinvest this via Water Revolution Foundation into Important Marine Mammal Areas (IMMA) for its North Atlantic project which starts in early 2022. The amount of €1 per GT is based on the €555,000 target funding needed to start the two-year North Atlantic IMMA project.

Eleuteri continued, “When money is invested through charity or philanthropy it is often lost. How has this money been invested? This commitment is not only tangible and sustainable, it is part of a business plan. The commitment on the part of the shipyards represents a measurable and tangible investment in natural capital.”

According to Eleuteri, this commitment represents a revolutionary step, as it is the first time an entire industry class or business community has committed to the protection of natural capital. The target is that the tangible good created by this commitment becomes a springboard for future investment and sustainable projects.

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Source: SuperyachtNews


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