Leading maritime academic institutions, the University of Plymouth, UK and the National and Kapodistrian University of Athens, Greece, alongside an advisory committee of industry experts, have developed a unique ESG reporting methodological framework and index, catered to the individualities of the maritime sector.
The first ESG index for the maritime sector will be officially launched during London International Shipping Week 2023 and is based on independent academic research with extensive data gathered and analysed from across the globe, over the course of 3 years.
Formulated with the intent to breach the existing gap in credible benchmarking within the maritime sector, the ESG Index serves the purpose of assisting the shipping industry to align with upcoming stricter ESG reporting requirements, on a global and more unified basis.
The ESG Index is based on an assessment of 70 plus shipping companies, while the academic and research team is composed by Dr. Michael Tsatsaronis, Assistant Professor in Quantitative Methods in Shipping, Ports Management and Shipping Department, National and Kapodistrian University of Athens, Greece, Dr. Stavros Karamperidis, Head of Maritime Transport Research Group, University of Plymouth, UK, Prof. Theodoros Syriopoulos, Professor of Shipping Finance, Head of Ports Management and Shipping Department, National and Kapodistrian University of Athens, Greece and Ms Georgia Boura, Ph.D. Candidate, Ports Management and Shipping Department, National and Kapodistrian University of Athens, Greece. The team was guided by an advisory committee of expert industry insights amongst which Gina Panayiotou, ESG Manager, West P&I and Christopher Fee, Director, Global Engagement & Sustainability, Oldendorff.
Furthermore, the ESG index has already been put into place by a selected group of pilot shipping companies and the aim of the research team is to launch a holistic ESG reporting framework and indexing methodology that will allow shipping companies to illustrate an accurate and measurable ESG profile and a standardisation of reporting. Furthermore, the formulated methodology of ESG assessment, gathers relevant and a robust array of information to assist decision making at a managerial level, stakeholders and debtholders visibility on the company’s sustainability based on a framework that caters to measuring shipping specific ESG factors, ranging from decarbonisation of fleets to crew welfare.
Dr. Stavros Karamperidis, University of Plymouth explains: “The ESG Index is a tailor-made tool to support the industry through this transitional and challenging period, reducing the time and complexities required for companies to efficiently assess where they stand. We are very excited to be presenting this first ESG Index for maritime during London International Shipping Week 2023 especially, which will gather a diverse range of stakeholders from around the globe.’
The official ESG Index launch will take place during London International Shipping Week (LISW) on the 11th of September 2023, during the event entitled: Transparency in shipping and bunkering which will be held at Norton Rose Fulbright, 3 More London Pl, London SE1 2AQ, United Kingdom. The event will also feature a line-up of industry experts covering ESG in shipping matters and the relevance of the Index in assisting the shipping sector to move towards a sustainable future.
This article is shared by courtesy of the University of Plymouth and the National and Kapodistrian University of Athens.
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