The contemporary port industry faces intense competition, compelling port authorities and operators to enhance efficiency and effectiveness as proxies for competitiveness. Environmental, Social, and Governance (ESG) schemes have recently emerged as a means for ports to create value beyond core activities and engage broader stakeholder groups. ESG encompasses environmental, social, and governance factors influencing a company’s value creation and competitiveness.
The latest portstudy of PortEconomics George Vaggelas, co-authored with Michael Tsatsaronis and Agapi Stergiouli (National and Kapodistrian University of Athens, Greece), examines the role of ESG reporting in enhancing corporate communication and sustainable strategic management in the port industry, focusing on case studies of the Piraeus Port Authority S.A. and Thessaloniki Port Authority the backbone of the Greek port system. Utilising an innovative quantitative content analysis model, Latent Dirichlet Allocation (LDA), the study analyses sustainability reports from 2019 to 2023.
The findings reveal a shift towards more integrated and proactive sustainability strategies, with increased stakeholder engagement and digital communication. This study underscores the critical role of ESG reporting in shaping corporate communication and sustainable strategic management, highlighting the need for ongoing research to address evolving challenges and opportunities. Also, it unveils the aims of ESG strategies of the two major Greek ports in light of the engagement of private investors/port operators. As ports navigate the complexities of the modern business environment, embracing robust ESG practices will be essential for fostering long-term value creation and maintaining competitive advantage, especially in the Greek port industry, in which ESG adoption is at its early stages.
The port study has Research in Transportation Economics (Volume 114, December 2025, 101680) and can be downloaded from the journal’s webpage.
