We uphold the highest standards of ethics and integrity in all our business dealings and strictly adheres to applicable laws, regulations, and industry best practices. 

LR believes in open and transparent communication with our stakeholders, including customers, employees, industry, and the wider community and actively seeks feedback and collaboration to drive sustainable innovation. 

LR works to empower communities by engaging with various stakeholders, including local communities, NGOs, government agencies and industry partners. By collaborating with these groups, LR can identify shared goals and work together to address sustainability challenges.

We play a major part in the industry collaborations:

  • Sustainable Shipping Initiative (SSI)
  • Getting to Zero coalition
  • Global Maritime Forum
  • United Nations Global Compact

We helped found the Sustainable Shipping Initiative (SSI) in 2010. Through this initiative we collaborate with partners including Maersk, Bunge, Forum for the Future, IMC Industrial Group, IHRB, Jotun, Klaveness Combination Carriers, Priya Blue, RightShip, South32, Wilhelmsen Ship Management, WWF and The Mission to Seafarers. The roadmap that the SSI created has helped guide us and prioritise our areas of action within our sustainability programme.

Ship Lifecycle Report

The SSI produced a report exploring shipping’s transition to a circular industry, which highlighted the significance of steel within the lifecycle and recycling of a vessel, pressure on recycling capacity and capability, and the need for regulatory actions and frameworks in order to apply circular economy principles throughout the ship lifecycle.

Read the report

Green steel and shipping

This SSI report discusses current steel production and decarbonisation efforts, the potential of closing the loop in shipping, and identifies a number of drivers and barriers to achieving greater circularity for the maritime sector. Among others, the need for greater traceability across the ship lifecycle, as well as increasing regulation around sustainability and emissions reporting, are discussed.

Read the report


We’ve been part of the Getting to Zero Coalition, which is a partnership between the Global Maritime Forum and the World Economic Forum, since its founding. It brings together senior leaders from maritime, energy, infrastructure and finance, who are committed to getting commercially viable ZEVs into operation by 2030.

Being part of this coalition brought together the actors to be able to form the Castor Initiative and generate the concept of Green Corridors – catalysing action around these projects.

Our strategic partnership with the Global Maritime Forum has brought together senior stakeholders and leading experts to shape the future of global seaborne trade for sustainable long-term economic development and human wellbeing.

We’ve also signed the Neptune Declaration on Seafarer Wellbeing and Crew Change, along with more than 300 organisations, to ensure resilience across workforces in our industries. More recently, we joined the All Aboard Alliance to collaboratively drive towards increasing diversity, equity, and inclusion in maritime organisations.

We want our people to be in places where they can share their deep sector knowledge and technical expertise. That’s why we use secondments to bridge the understanding between partners, stakeholders and teams to create the greatest impact. By providing resource-light organisations with this support, we can offer value while also staying updated with the industry.

In our partnership with United Nations Global Compact (UNGC), we currently have UNGC secondments in blue finance and blue food – looking at how to scale up the seaweed industry safely and sustainably; and as the UNFCCC’s High Level Climate Champions shipping lead, we’re supporting the shipping industry’s drive to decarbonisation.

Monitoring our progress 

There is ongoing work to establish key performance indicators (KPIs) to monitor LR’s progress in each pillar of the sustainability strategy ensuring transparent progress on LR’s sustainability journey is available. LR are committed to reporting on sustainability performance, sharing achievements, challenges and future goals through regular sustainability reports and public disclosures such as the United Nations Global Compact (UNGC) and the Science Based Targets Initiative (SBTi).

LR will review and update the sustainability strategy periodically to ensure its alignment with emerging sustainability trends, global frameworks and the evolving needs of our stakeholders.