Description
Title: Estonian Maritime Policy Design Framework Using ESG Performance Approach
Abstract: Designing a policy is one of the most important steps in the policy-making process. A well-crafted policy will be able to address sectoral issues with all relevant parties and support the competitive growth of the entire economy. Environmental, social, and governance (ESG) changes have an impact on maritime industry businesses due to pressure from financiers, insurers, regulators, and clients. The ESG issues must be taken into account in the new policy design processes in order to meet the challenges and reap the benefits in the future. The cornerstones of effective maritime policy development are maritime sector specificities and a science-based policy-making framework. On the eastern edge of the EU, Estonia has always desired to be a maritime state. The Estonian Transport and Mobility Master Plan currently includes maritime aspects, and national maritime policy (2012-2020) has been adopted. Actors in the maritime industry continue to be dissatisfied and call for the restoration and reformation of Estonia’s maritime policy. This study’s objective was to present a framework for developing maritime policy that takes into account maritime economics, ESG performance objectives, and policy design analyses. A framework for designing maritime policy is consequently suggested.
Keywords: policy design; maritime policy; ESG concept; policy framework
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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