Identifying ESG Trends of International Container Shipping Companies Using Semantic Network Analysis and Multiple Case Theory
Year: 2023
Type: article
Abstract: Strengthened International Maritime Organization environmental regulations, the Poseidon principles, and other environmental changes require shipping companies to expand their Environmental, Social, and Governance (ESG) investments. ESG management is evolving as an essential requirement to enhance the competitiveness of global liner shipping companies. Under these circumstances, this study aims to provide policy guidelines and future directions for the development of ESG management in Korean shipping companies. Accordingly, we selected four companies under THE Alliance, which is an ESG standard leader in shipping. Based on each shipping company’s sustainability reports from 2019 to 2021, we analyzed the major ESG performance factors required for a company to achieve its sustainability goals, developing four research questions. Based on multiple case study theory, we compared each company’s ESG management status and main characteristics using the quadruple helix model, proposing three measures to improve the ESG management of Korean shipping companies: 1. Cultivate ESG experts specialized in the maritime field; 2. Strengthen support for small- and medium-sized companies; 3. Construct a maritime-specialized ESG evaluation system and introduce voluntary management culture. Our findings contribute to the maritime industry’s development by identifying necessary factors and proposing improvement directions that will help Korean shipping companies to secure global competitiveness.
Source: Sustainability
DOI: 10.3390/su15129441
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $2,447
Funder: Ministry of Oceans and Fisheries
OpenAlex ID: W4380485685