Star Bulk Carriers Unveils 2023 ESG Report: A Commitment to Sustainability

Star Bulk Carriers Publishes 2023 ESG Report

Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), recognized as a leading player in dry bulk shipping, has announced the release of its 2023 Environmental, Social, and Governance (ESG) Report from its headquarters in Greece. This comprehensive document encapsulates the company’s commitment to sustainable practices across its operations.

Adhering to Global Standards

The 2023 ESG Report has been constructed following the protocols set by the Global Reporting Initiative (GRI 2021) and the Sustainability Accounting Standards Board (SASB) for Marine Transportation. It also aligns with the United Nations’ Sustainable Development Goals (SDGs). Ernst & Young (Hellas) Certified Auditors Accountants S.A. have provided limited assurance on the specific GRI disclosures and SASB indicators, reinforcing the report's credibility.

A Deep Dive into Sustainability

This sixth annual publication from Star Bulk presents an extensive overview of their sustainability strategy, key performance metrics, and future targets. Under the guidance of its ESG Committee, the company emphasizes best practices designed to support business longevity while addressing significant environmental and socio-economic challenges.

Transparency and Commitment

The report outlines the progress made toward long-term ESG objectives, featuring detailed data measured by relevant sustainability Key Performance Indicators (KPIs). This transparency highlights Star Bulk’s ongoing commitment to significantly reduce its environmental footprint, enhance social responsibility, and uphold exemplary standards of corporate governance.

Leadership's Vision for a Greener Future

In reflecting on the findings of the report, Mr. Petros Pappas, CEO of Star Bulk, emphasized the company’s dual focus on fleet expansion and environmental stewardship: “We continue to grow our fleet and our operations in parallel with our care and commitment to human welfare and to the well-being of the environment. We are dedicated to advancing a more sustainable future for our industry.”

About Star Bulk Carriers Corp.

Star Bulk Carriers is a prominent global shipping entity specializing in the transportation of dry bulk commodities. The company’s diverse fleet is equipped to handle major bulks like iron ore and grains, as well as minor bulks such as fertilizers and steel products. Established in the Marshall Islands in 2006, Star Bulk operates a robust fleet of 151 owned vessels, collectively capable of transporting an impressive 14.6 million deadweight tons (dwt).

Company Contacts

For inquiries, please contact:

Company:
Simos Spyrou, Christos Begleris
Co- Chief Financial Officers
Star Bulk Carriers Corp.
c/o Star Bulk Management Inc.
40 Ag. Konstantinou Av.
Maroussi 15124
Athens, Greece
Email: info@starbulk.com
Website: www.starbulk.com

Investor Relations / Financial Media:
Nicolas Bornozis
President
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, NY 10169
Tel. (212) 661-7566
Email: starbulk@capitallink.com
Website: www.capitallink.com

Frequently Asked Questions

What is the main purpose of the 2023 ESG Report?

The report provides insight into Star Bulk's sustainability initiatives, performance metrics, and governance practices, showcasing their commitment to environmental and social responsibility.

Who verified the disclosures in the ESG report?

Ernst & Young (Hellas) Certified Auditors Accountants S.A. provided limited assurance for specific GRI disclosures and SASB indicators included in the report.

What are Key Performance Indicators (KPIs)?

KPIs in the context of sustainability are measurable values that demonstrate how effectively a company is achieving its key sustainability objectives.

How does the report align with UN goals?

The report is designed to align with the United Nations’ Sustainable Development Goals (SDGs), emphasizing Star Bulk’s commitment to global sustainability efforts.

What types of cargo does Star Bulk transport?

Star Bulk transports a variety of dry bulk commodities, including iron ore, grains, bauxite, fertilizers, and steel products, utilizing a large fleet of vessels.

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