Cochin Shipyard Ltd (CSL) has become the first company in shipping sector to be certified by Confederation of Indian Industry (CII) for GreenCo silver rating.

CSL has now joined a handful of companies like IndianOil Corporation, Hindustan Petroleum Corporation, Bharat Petroleum Corporation, ONGC, GAIL, Indian Railway which have already been certified.

GreenCo rating is based on performance evaluation of a company under various parameters like energy efficiency, water conservation, renewable energy, greenhouse gas emission, waste management, material conservation, recycling and recyclability, green supply chain, product stewardship and life cycle assessment, innovation for environment, green infrastructure and ecology.

“The GreenCo silver rating will pave way for CSL to draw a long-term roadmap for ecologically sustainable business growth,” it said in a statement.

he largest commercial shipbuilder in India is presently building a prestigious indigenous aircraft carrier for Indian Navy.

Industry experts say that shipbuilding can contribute immensely to the vision of making India a five trillion dollar economy by 2024.