SuperYacht Times logo Market intelligence promo small
Market Intelligence
Latest news
Advertisement

Credit Suisse and Yacht Club de Monaco launch SEA Index

Business
Written by
Louis Parkes-Talbot

As Part of Planetary Health Week which took place earlier this month, Credit Suisse and the Yacht Club de Monaco have announced the launch of the Superyacht Eco Association (SEA) Index. The SEA Index aims to measure the environmental impact of yacht design and use. Developed in collaboration with Nobiskrug with the aim of becoming the leading air pollution rating system for yachts, the Index aspires to evolve over time into a global industry standard providing transparent ecological ratings for superyachts in the areas of propulsion systems, energy recovery chemicals, waste and water.Seven sins swimming pool in St Lucia Photo: Charl van Rooy / SuperYacht TimesThe SEA Index is a customised tool which will be made available online for industry participants to carry out their own ‘no obligation’ assessment of their emissions. If their results satisfy the relevant criteria, they will be able to request an audit with a view to obtaining a SEA Flag and an SEA rating. In the absence of a global standard for superyacht emissions, Credit Suisse and Yacht Club de Monaco feel that the SEA Index is a step in the right direction for the environmentalism of the industry as it “moves towards a climate friendlier future.”Prince Albert II of Monaco and Mike HornPhoto: Yacht Club de Monaco “The next decade will be decisive for the future of our planet. Climate change is one of our biggest challenges. In line with the United Nations Sustainable Development Goals for 2030, the next ten years must focus on oceanography to underpin our scientific knowledge, encourage technical innovation and promote the emergence of new solutions to reverse - we hope - the cycle of decline in ocean health,” says Prince Albert II, Prince of Monaco and President of the Yacht Club de Monaco.SEA Index launch event Photo: Yacht Club de Monaco “The climate emergency is a reality. Our industry knows that it has to reinvent itself as the automobile sector has done. If we aspire to position ourselves as a center of excellence, it is up to us to take initiative and lead by example. I would like to thank all these Monegasque players, federated by the Cluster Yachting Monaco, who have joined forces with us on this project with such enthusiasm. It is only by acting together we will succeed in making our contribution to a more climate-friendly yachting sector that will do everything in its power to reduce the effects  of air and sea pollution on health and the climate, and encourage good practices across the board, ashore as well as on board," comments Bernard d´Alessandri, Secretary General of the Y.C.M. and President of the Monaco Yachting Cluster.SEA Index launch event Photo: Yacht Club de Monaco "It is a pleasure for us to partner with so many key international boating organizations to develop a first of its kind index to measure and rate the ecological efficiency of international yacht design. There has been a strong demand from owners, keen to be able to contribute to the sustainability of the industry as it moves towards a climate friendlier future. More and more owners are adopting a sustainable approach as they align their enthusiasm for the oceans with their passion for yachting. As an organization which puts sustainability centrally to its operations, it was a natural step for us to partner with the Y.C.M. on this very important initiative, in the interest of our clients," says Michel Buffat, Head Aviation & Yacht Finance, Credit Suisse.

The SuperYacht Times iQ Report

SuperYacht Times - The State of Yachting 2020

Being the intelligence partner for the top shipyards and yacht brokers in the world, we have learned to analyse and track the market in great detail. Each year our leading market report is used by investors, CEOs, owners and other key decision makers to inform themselves on the state of the market and future developments. Find all the information you need on the market, fleet, construction book, ownership nationalities and much more in our report.


#weknow - do you want to know? Buy the report now for only €299!

Advertisement

Related articles