Investors should shun shipowners who remain indifferent to climate change, and prioritise those who are actively cutting carbon emissions, an influential voice has urged.

Former Lauritzen chief executive Mads Peter Zacho said shipowners who are hesitating about taking action should now get off the fence and set ambitious targets.

“For the investors here today, if you are looking at a company that doesn’t measure and disclose their carbon footprint I think that is a red flag,” he told the Marine Money conference in London.