Contributing to a restorative and regenerative economy
A growing population and concerns about resource scarcity and environmental pressures have led industries and policymakers to explore the switch from a linear to circular economy.
A circular economy is one based on the principles of reducing waste and pollution, keeping products and materials in use, and regenerating natural systems. As a result, the economy is restorative and regenerative by design. A circular economy also leverages the Waste-to-Value concept, which processes waste into a valuable product.
Learn more about the different ways we’re contributing to the circular economy at MISC.
Building a Better World
MISC's circular economy commitment
At MISC we are committed to contributing to a circular economy and playing our part to build a better world. We aim to keep products, materials, equipment, and infrastructure in use for longer periods across the entire business. Collaboration with our suppliers across value chains is also crucial as recovered materials are distributed as input raw materials for other products.
Circular economy practices at MISC: creating a sustainable future
MISC is committed to circular economy practices for a sustainable future. We minimize waste, maximize resources, and collaborate with suppliers for recycling and reuse. Together, we create a better world.
- To promote the elimination of waste and the continual use of resources
- To increase the usage of renewable resources
- Practice 4R - Refuse, Reduce, Reuse and Recycle (Waste-to-Value Concept)
- Practising Green Ship Recycling
- Greater Renewable Resource Utilisation
Our contribution to UNSDG
- Ensure sustainable consumption by promoting circular economy (eliminating waste and the continual use of renewable resources) and sustainable procurement practices.
Our 4R (Refuse, Reuse, Reduce and Recycle) practices
We are committed to eliminating waste by continually using resources and practising 4R throughout our operations. We have introduced various programs that support this commitment.
At MISC, we take complete ‘cradle-to-grave’ accountability for our assets as a responsible shipowner. We prefer responsible redeployment to recycling and actively seek viable opportunities for assets that have reached the end of their life cycles. Several stringent processes precede redeployment, such as selecting facilities based of a strict audit and inspection regime in compliance with the BIMCO RecycleCON and Hong Kong Convention 2009.
Since 2018, we have banned single use plastics at all our events, which has since been applied to our operations globally. Various campaigns were led with the aim of reducing the generation of plastic waste and promoting the zero-waste lifestyle amongst our employees whilst increasing their awareness and knowledge on environmental matters. We now have many reusable containers and bags being used by employees to pack their food and items.
View our sustainability report
Gain an in-depth understanding of how we are building a better and more sustainable world through our business operations. This Sustainability Report outlines our material environmental, social and governance (ESG) performance and our forward-looking commitments within the context of the maritime industry.