Bank to grade shipping companies for environmental transparency

Wells Fargo introduces a new criterion for its biannual assessment of shipping companies and their ethics. In the future, transparency about environmental impact will give bonus points. The green agenda is becoming more important for investors.

Gary Vogel, CEO at Eagle Bulk, which tops Wells Fargo's list of listed companies with the best corporate governance. | Photo: Marine Money

Moving forward, US bank Wells Fargo will reward shipping companies that are transparent about their impact on the environment.

Twice a year, the bank publishes a report card, in which US-listed shipping companies are ranked based on their ethics and corporate governance.

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