for seafarers brought on by the global restrictions enacted
to control the coronavirus. In an open letter to the UN Secretary-General, the
investors in consultation with key marine organizations such as the
International Labor Organisation and the International Transport Workers’
Federation added their voice to the call to recognize seafarers as key workers
and specific actions to ensure crews’ health and safety while maintaining
global trade.
“As investors, it is clear that this is no longer solely a
shipping industry problem nor a crisis that the shipping industry can resolve
on their own,” said Jenn-Hui Tan, Global Head of Stewardship & Sustainable
Investing at London-based Fidelity International, which is leading this latest
effort. “Shipping is responsible for 90 percent of global trade and holds the
key not just to a global economic recovery from the devastation of COVID-19,
but to maintaining our current way of life.”
In the letter to Secretary-General Guterres, the investors
write, “We recognize that any solution here has to be premised on a
multi-lateral approach aimed at facilitating seafarers' movement while
protecting local communities from re-infection risk. As investors, we
acknowledge our responsibility with regard to the companies of which we are
lenders or owners to raise our concerns and seek constructive responses.”
The signatories to the letter, which include leading global
investment firms Achmea Investment Management, ACTIAM, Ethos Foundation,
Lombard Odier Investment Management, and MFS Investment Management, identify
what they call the clear need for action. They support the ongoing call to
designate seafarers as key workers and the establishment of systematic
processes to enable safe crew changes such as safe corridors and testing
regimes.
As Covid-19 vaccines are being rolled out, the group also
says that it is looking to the leadership of the UN to ensure key workers
including seafarers are included in the priority groups by their respective
governments and that a complementary arrangement can be made by the UN or the
IMO to secure a reasonable supply of vaccines for seafarers to effect immediate
crew change where it is (over)due.
“We believe vaccinating a critical mass of the seafarer
population is the most effective way of resolving the crisis,” the group writes
in its letter while also calling for other actions. They also call for a
publicity campaign to raise awareness as well as sharing the IMO’s 12-step
protocol with relevant entities to facilitate universal implementation.
They conclude by highlighting the role that they believe
seafarers will play in maintaining global supply lines and economic recovery.
“We believe that the sustainability of the maritime industry and the humane
treatment of seafarers affects all investors as well as our portfolio companies
that depend on these workers.”