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Sustainability and decarbonisation are key themes

Sustainability and the decarbonisation of the recreational marine industry were the key themes of the inaugural ICOMIA Boating Industry Conference.

The conference took place at the Singapore Yachting Festival with ICOMIA’s ongoing Propelling our Future campaign shaping much of the dialogue.

ICOMIA president Darren Vaux delivered the conference keynote speech discussing ICOMIA’s research Pathways into Propulsion Decarbonisation in the Recreational Marine Industry and the further research being undertaken by the continuing #propellingourfuture campaign.

Bingrong Ng, director of the Maritime Decarbonisation Division of MPA Singapore provided delegates with an overview of Singapore’s initiatives in decarbonisation and sustainability. These include the planned electrification of harbour crafts as well as increasing engagement with the recreational sector to ensure collaboration in implementation.

Oscar Siches, partner and manager of two marinas in Mallorca, led a panel discussion on the Pivot Towards Sustainability, together with panellists Stephen Beng of Phillip Capital and Peter Jacops of WAWA Creations.

Multi-faceted and pragmatic

Their discussion showed that best practices in sustainability need to be multi-faceted and pragmatic, incorporating environmental and social factors as well as financial and economic considerations.

The investment community is increasingly making decisions based on sustainability criteria.

The issues of sustainability in industry growth and business practices were discussed on the second day looking at collaborations can take place with governments and regulators to secure the best possible legislative, tax and investment.

A further discussion on changing consumer expectations and how the marine industry can work towards making boating more affordable and accessible, acknowledged shared ownership schemes are proving to be transformational in this respect and good for the environment.

“Collectively we are responsible for a huge industry that benefits the health and well-being of our participants and local host communities alike and when we collaborate, we create a sustainable, successful and safe industry to pass on to the next generation,” said ICOMIA CEO Joe Lynch.

The conference was organised and held in association with ICOMIA member Singapore Boating Industry Association and in conjunction with the Singapore Yachting Festival.

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