CNCo developed the Strategic Scorecard in 2012 as a pathway for the Company to ensure it was fit for the future. We had a set of 2020 KPIs on which we delivered and presented results at the annual internal Sustainability Conference. The Strategy also included broad goals to 2030. However, in a volatile world, CNCo management felt the need to revisit our 2030 goals, sense-checking them against a backdrop of the accelerating urgency and scale of challenges the shipping sector is expected to respond to – from climate change to ocean health to modern slavery. We also wanted to align our Strategic Scorecard with our CNCoTHRIVE Strategy and assign objectives and goals across the three pillars.
At the end of the reporting period CNCo had made good progress against goals set in our 2012 Strategic Scorecard which, going forward, will be replaced with a fully updated 2030 Sustainability Strategy with revised set goals and KPIs.
CNCoTHRIVE Sustainable Development strategy (introduced in 2016) can be found here. It covers areas which were identified as material to our Company across three pillars:
In our new Sustainability Strategy, we will make a change from a "Communities" pillar to a "Partners" pillar, so as to broaden the list of stakeholders with whom we work. The new strategy will be finalised and launched in 2020. We will report on it in our 2020 SD Report.
The strategy session was facilitated by CNCo's long term partner, Forum for the Future, during the SD Conference.
Our progress against CNCoTHRIVE for 2019 and relevant Sustainable Development Goals is detailed here (SDGs and with Links to CNCoTHRIVE strategy and Material Issues with progress).
Our Value Chain Analysis has not changed and can be found here. It will be an integral part of our new strategy.