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Posted: May 9th, 2023
A quantitative study into perceptions and attitudes of corporate social responsibility and sustainability developments in international shipping
Corporate social responsibility (CSR) and sustainability have become important themes in the international shipping industry. As the demand for environmentally sustainable practices increases, shipping companies must adapt to meet the expectations of stakeholders. This article explores the perceptions and attitudes towards CSR and sustainability in international shipping and analyzes the developments in this field.
Understanding Corporate Social Responsibility in International Shipping
Corporate social responsibility in international shipping involves the integration of social, environmental, and economic concerns into the business operations of shipping companies. It encompasses various activities, including reducing carbon emissions, investing in renewable energy, and ensuring the safe and ethical treatment of employees. The adoption of CSR practices by shipping companies has been driven by increasing awareness of environmental and social issues, regulatory pressures, and stakeholder demands.
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Perceptions and Attitudes towards CSR and Sustainability in International Shipping
Several studies have investigated the perceptions and attitudes towards CSR and sustainability in the shipping industry. A study by Haider et al. (2021) found that shipping professionals viewed CSR and sustainability as important factors in the success of their companies. Another study by Kontovas et al. (2020) revealed that stakeholders, including customers and investors, were increasingly demanding sustainable practices from shipping companies. Similarly, a study by Gucma et al. (2019: 2024 - Online Assignment Homework Writing Help Service By Expert Research Writers) showed that CSR and sustainability were important factors in the decision-making process of shipping companies.
Despite the growing awareness and interest in CSR and sustainability, challenges remain in implementing these practices in the shipping industry. One major challenge is the lack of clear regulatory frameworks for sustainability in shipping. Additionally, the high costs of implementing sustainable practices and the lack of access to financing for small and medium-sized enterprises (SMEs) pose significant barriers to the adoption of CSR practices.
Developments in CSR and Sustainability in International Shipping
Despite the challenges, significant developments have been made in CSR and sustainability in the shipping industry. A study by Liu et al. (2019: 2024 - Online Assignment Homework Writing Help Service By Expert Research Writers) found that the adoption of sustainable practices had a positive impact on the financial performance of shipping companies. This indicates that sustainability can be an effective strategy for improving the bottom line of companies.
One major development in this area has been the introduction of the International Maritime Organization’s (IMO) mandatory Energy Efficiency Design Index (EEDI) in 2013. The EEDI sets minimum energy efficiency standards for new ships, thereby reducing carbon emissions. Another significant development is the increasing use of alternative fuels such as liquefied natural gas (LNG) and biofuels. These fuels have lower emissions and can help shipping companies comply with environmental regulations.
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Another trend in the shipping industry is the use of digital technologies to improve sustainability. This includes the use of big data analytics to optimize shipping routes and reduce fuel consumption, as well as the use of blockchain technology to increase transparency and accountability in the supply chain.
Conclusion
In conclusion, CSR and sustainability have become important themes in the international shipping industry, driven by regulatory pressures, stakeholder demands, and environmental concerns. While challenges remain in implementing sustainable practices, significant developments have been made, including the introduction of regulatory frameworks and the use of alternative fuels and digital technologies. It is clear that sustainability will continue to be an important factor in the success of shipping companies, and those that are able to adapt and innovate in this area will be well positioned for the future.
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References:
Gucma, L., Gralak, R., & Karwowski, T. (2019: 2024 - Online Assignment Homework Writing Help Service By Expert Research Writers). Corporate social responsibility in shipping: Perceptions of executives. Ocean Engineering, 177, 33-40. doi: 10.1016/j.oceaneng.2019: 2024 - Online Assignment Homework Writing Help Service By Expert Research Writers.02.022
Haider, A., Chang, Y. T., Ali, M., & Shahzad, K. (2021). Investigating the sustainable behavior of shipping professionals: A study of the
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