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Maritime Policy Design Framework with ESG Performance Approach: Case of Estonia

Author

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  • Kaidi Nõmmela

    (Department of Mechanical and Industrial Engineering, Tallinn University of Technology (TalTech), Ehitajate tee 5, 19086 Tallinn, Estonia)

  • Kati Kõrbe Kaare

    (Department of Mechanical and Industrial Engineering, Tallinn University of Technology (TalTech), Ehitajate tee 5, 19086 Tallinn, Estonia)

Abstract

In policy-making, the design of a policy is considered to be one of the most significant steps. A well designed policy will be able to solve sectoral problems across stakeholders as well as support the competitive development of the entire economy. Enterprises of the maritime sector have been influenced by environmental, social, and governance (ESG) changes with the push coming from financiers, insurers, regulators, and customers. To meet the ESG challenges and utilize the benefits ahead, they need to be addressed in the new policy design processes. The specificities of a maritime sector as well as science-based policy-making framework are the fundamentals of successful maritime policy development. Estonia is located on the eastern border of the EU, and has always aimed to be a maritime state. National maritime policy has been adopted (2012–2020) and currently, the Estonian Transport and Mobility Master Plan incorporates maritime aspects. Actors of the maritime sector have remained dissatisfied and advocate the reinstatement and redevelopment of Estonian maritime policy. The aim of this study was to present a framework for the design of maritime policy that uses maritime economics, ESG performance goals, and policy design analyses as inputs. As a result, a maritime policy design framework is proposed.

Suggested Citation

  • Kaidi Nõmmela & Kati Kõrbe Kaare, 2022. "Maritime Policy Design Framework with ESG Performance Approach: Case of Estonia," Economies, MDPI, vol. 10(4), pages 1-15, April.
    • Handle: RePEc:gam:jecomi:v:10:y:2022:i:4:p:88-:d:789905
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    References listed on IDEAS

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    1. Woo, Jong-Kyun & Moon, Daniel S.H. & Lam, Jasmine Siu Lee, 2018. "The impact of environmental policy on ports and the associated economic opportunities," Transportation Research Part A: Policy and Practice, Elsevier, vol. 110(C), pages 234-242.
    2. Tan, Yafei & Zhu, Zhaohui, 2022. "The effect of ESG rating events on corporate green innovation in China: The mediating role of financial constraints and managers' environmental awareness," Technology in Society, Elsevier, vol. 68(C).
    3. Michael Howlett, 2014. "From the ‘old’ to the ‘new’ policy design: design thinking beyond markets and collaborative governance," Policy Sciences, Springer;Society of Policy Sciences, vol. 47(3), pages 187-207, September.
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    Cited by:

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    2. Jeongmin Lee & Jinwoo Lee & Changhee Lee & Yulseong Kim, 2023. "Identifying ESG Trends of International Container Shipping Companies Using Semantic Network Analysis and Multiple Case Theory," Sustainability, MDPI, vol. 15(12), pages 1-20, June.
    3. Kaidi Nõmmela & Kati Kõrbe Kaare, 2022. "Incorporated Maritime Policy Concept: Adopting ESRS Principles to Support Maritime Sector’s Sustainable Growth," Sustainability, MDPI, vol. 14(20), pages 1-16, October.

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