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Abstract
This study critically examines how environmental, social, and governance (ESG) disclosure and green accounting contribute to financial value creation in maritime logistics, addressing fragmented evidence on their underlying mechanisms and institutional conditions. Employing a critical integrative literature review, the study synthesises research published between 2010 and September 2026, identified through Scopus and Web of Science. Thematic synthesis and cross-study comparisons integrate maritime-specific, logistics-sector, and emerging-market evidence to assess financial outcomes, value-creation pathways, and contextual differences. The findings indicate that ESG-related practices are generally associated with favourable but heterogeneous financial and operational outcomes, particularly profitability, firm valuation, and operational efficiency. ESG disclosure may enhance value through information transparency, financing access, stakeholder confidence, and risk management, while green accounting supports environmental cost visibility, resource allocation, and operational decision-making. However, these relationships depend on disclosure credibility, governance quality, ownership structures, institutional maturity, and implementation horizons. Direct maritime evidence remains limited, particularly concerning environmental cost recognition, financing costs, and causal mechanisms. This review contributes an integrated, mechanism-based framework distinguishing the external information function of ESG disclosure from the internal managerial function of green accounting. By identifying potential transmission pathways, institutional boundary conditions, and evidence gaps, the study advances a research agenda for explaining how and under what conditions sustainability practices may generate financial and strategic value in maritime logistics.
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