Environmental Transparency of Shipping Companies Operating in the Russian Arctic through the Lens of Sustainability Disclosure

Shipping in the Arctic, which plays an important role in the development of several key sectors of the Russian economy, is associated with several significant environmental risks. Reducing these risks can be achieved through the implementation of corporate environmental responsibility programs. This article aims to assess the level of environmental transparency of Russian shipping companies operating in the Arctic region using content analysis methodology. The data analysed includes but is not limited to corporate sustainability reports, environmental policies, websites and press releases. The results of the study indicate that most of the largest shipping companies operating in the Russian Arctic have made little progress in disclosing environmental information, and the extent of this disclosure is only diminishing in the context of sanctions and military conflict. Their level of environmental transparency is low in comparison not only with international companies but also with Russian extractive industry companies that act as key customers for maritime transportation.