The superyacht industry is flying blind on sustainability: MB92 report
The superyacht industry is “flying a little blind with insufficient data on sustainability”, according to a new report from refit specialists MB92 Group. The report, A Joint Effort for the Oceans – Driving Sustainability Across the Supply Chain, highlights need for increased regulation and environmental assessment across the superyacht supply chain.
MB92 Group surveyed its supply network and industry stakeholders and environmental non-governmental organisations (NGOs) to discuss the future of the yacht sector. Topics discussed included: the challenges for refit shipyards, suppliers proposing sustainable solutions to clients, material sourcing and manufacturing processes, research and development and innovation.
“For all the spectacular growth seen in recent decades, the yachting industry is today faced with a daunting challenge” says Jean-Marc Bolinger, CEO, MB92 Group. “Either it becomes truly sustainable, or it risks disappearing.”
Within MB92’s network of suppliers, 82% of companies surveyed already have a sustainability plan in place. However, without enough data, many feel they are flying blind.
The survey of MB92 suppliers showed that 44% of respondents considered the data available to support sustainable development either insufficient or non-existent. Only 39% had a device in place to measure their emissions and just 14% had a mechanism to evaluate their suppliers’ emissions.
MB92 said that a lack of reliable data to judge the credentials of alternative products and solutions was one of the main obstacles for implementing sustainable upgrades on the superyacht fleet.
Survey respondents said they often find themselves ill-equipped to convince decision makers. They also underlined the importance of regulation and public scrutiny in convincing owners to invest in sustainable upgrades.
Philippe Bernard, procurement director, MB92 Group explained : “We need to be able to offer a catalogue of solutions and to be able to recommend the right solution for the right boat. This is really where, as a refit shipyard, we can bring something to the table together with our network of suppliers.”
MB92 plans to present the report to industry executives as part of the Monaco Smart Yacht Rendez-Vous today, Friday March 24th, at the Monaco Ocean Week.