Global Value Chains are greatly boosting the productivity and incomes in both developed and developing countries, shows the World Bank’s latest World Development Report. But we need to make sure we create the conditions for inclusive and sustainable development.

The next wave of the maritime industry’s young talent overwhelmingly supports adopting clean and sustainable business practices, moving towards the digital age, improving conditions and opportunities for workers and increasing industry resilience and cooperation in the face of tumultuous geopolitics.

Iorliam Simon Tersoo, a Maritime Safety Officer from Nigeria and winner of the Future Maritime Leaders essay competition, addresses the need for preparing the next generation of seafarers to a more digitalized future due to the automation of the maritime industry.

In the light of the forthcoming environmental and climate related regulations, Yiqi Zhang, PhD student at Hong Kong University of Science and Technology, argues how a trading scheme will offer flexibility for regulation compliance during a policy transition period and provide financial incentives for the industry to upgrade to a greener business.

By finding new ways to leverage its role and impact in the ecosystem of trade, the maritime industry can have a long-term impact on the broader sustainability agenda. Line Fryd Hofmansen, a Management Consultant from Denmark, envisions how the maritime industry can become an enabler of the circular economy in global supply chains.

Together with the World Economic Forum and Friends of Ocean Action, the Global Maritime Forum is collaborating on the Getting to Zero Coalition, with the goal of speeding the development of zero-emission vessels by 2030 as a key step towards decarbonizing shipping.

On World Maritime Day 2019, with its theme “Empowering Women in the Maritime Community”, Despina Panayiotou Theodosiou, WISTA International President examines how the maritime industry can commit to building a workforce that is diverse and equal.

The necessary technologies exist but the maritime industry must find ways to overcome its competitive mindset and increase collaboration if it wants to fully realize the operational benefits of digitalization.

Today, all oceans related activities, in particular the maritime industries, both seagoing and shore-based, are facing many challenges. To successfully meet all these needs there is a pressing demand for skilled workers and competent innovative leaders in all areas of marine activity. We are an in era of immense change and any institution or company that does not invite diversity and support the potential contribution and leadership of qualified women will be left behind.

The Poseidon Principles are the world’s first sector-specific, self-governing climate alignment agreement amongst financial institutions.