Speaking at The Time for Change is Now, a joint WISTA UK and Seatrade Maritime event held at Informa Markets Blackfriars headquarters last week, Dr Stavros Karamperidis, Head of Maritime Transport Research at the UK’s University of Plymouth, revealed details of the new scheme.
Released on 11 September, the new ESG Index is based on a detailed analysis of 70 public ESG and Sustainability reports from shipping companies. The aim of the project has been to develop and launch a holistic ESG reporting framework and indexing methodology to assist shipping companies in drawing up accurate and measurable ESG profiles with a standardisation of reporting.
The mounting regulatory challenge facing many companies has added urgency to the project. Standardisation of reporting and indexing to develop accurate and measurable ESG profiles is designed to assist shipowners and operators by amassing relevant and robust information to aid decision-making and visibility of sustainability rankings across specific ESG focus points, including issues such as fleet decarbonisation and crew welfare.
Karamperidis has worked on the project with other academics and advisers. They include Dr Michael Tsatsaronis and Professor Theodoros Syrioupoulos, quantitative analysis and ship finance experts respectively at the National and Kapadistrian University of Athens, and a PhD student, Georgia Boura, at the same institution. Advisors include Gina Panayiotou, ESG Manager at the West of England P&I Club, and Christopher Fee, Oldendorff’s Director, Global Engagement & Sustainability.
