Shipping-specific ESG rating and reporting framework

Michael Tsatsaronis*, Theodore Syriopoulos, Stavros Karamperidis, Georgia Boura

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

Strict regulatory requirements supporting environmental sustainability are consistently promoted for the shipping sector, including the IMO 2050 framework to reduce greenhouse gas implications by 50% and CO2 emissions by 70% compared to respective 2008 levels. These requirements bear critical implications for vital investment, financing, and operational decisions of shipping company management teams. Empirical evidence, furthermore, indicates growing investor preferences in favor of companies promoting ESG (environmental, social, governance) good practices. This study develops an innovative methodology to construct an integrated ESG Index tailormade to shipping idiosyncrasies. The ESG Index offers support to shipping company sustainable policies, standardizes and facilitates materially the ESG reporting process, and promotes the comparative evaluation of ESG rating between companies as well as market segments. ESG reporting and rating are constructed in a robust dynamic framework to deliver useful feedback to shipping company sustainability prospects, promoting informed managerial, stakeholder, financier, and regulatory decisions.

Original languageEnglish
Pages (from-to)698-716
Number of pages19
JournalMaritime Policy and Management
Volume51
Issue number5
DOIs
Publication statusPublished - 26 Apr 2024

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Transportation
  • Ocean Engineering
  • Management, Monitoring, Policy and Law

Keywords

  • ESG index
  • ESG rating
  • ESG reporting
  • shipping sustainability

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