Star Bulk Carriers Corp. announced the publication of its 2023 Environmental, Social, and Governance (ESG) Report, marking its sixth annual such publication. The report was developed in accordance with Global Reporting Initiative (GRI 2021) standards, the Sustainability Accounting Standards Board (SASB) for Marine Transportation (2018), and aligns with the United Nations’ Sustainable Development Goals (SDGs). Specific disclosures and indicators received limited assurance from Ernst & Young (Hellas) Certified Auditors Accountants S.A.
The report highlights Star Bulk's commitment to sustainability, with the company maintaining a B score in the Carbon Disclosure Project for environmental management in 2024. It also achieved the Sapphire tier in the Protecting Blue Whales and Blue Skies Vessel Speed Reduction program. The fleet consistently retained an average C+ score in the Rightship Greenhouse Gas rating, and its Sustainalytics ESG Risk Smart Score of 18.4 indicates low risk.
Key achievements detailed in the report include a 4% reduction in Scope 1 GHG emissions and a 5.8 improvement in fleet-wide Carbon Intensity Indicator (CII) compared to the previous year. CEO Petros Pappas stated that the company continues to grow its fleet and operations in parallel with its care and commitment to human welfare and the well-being of the environment.
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