Identifying ESG Trends of International Container Shipping Companies Using Semantic Network Analysis and Multiple Case Theory

Jeongmin Lee, Jinwoo Lee, Changhee Lee () and Yulseong Kim
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Jeongmin Lee: Department of Convergence Interdisciplinary Education of Maritime & Ocean Contents (Logistics System), Korea Maritime and Ocean University, Busan 49112, Republic of Korea
Jinwoo Lee: Ocean Technology Training Team, Korea Institute of Maritime and Fisheries Technology, Busan 48562, Republic of Korea
Changhee Lee: Division of Navigation Convergence Studies, College of Maritime Sciences, Korea Maritime and Ocean University, Busan 49112, Republic of Korea
Yulseong Kim: Department of Logistics, College of Engineering, Korea Maritime and Ocean University, Busan 49112, Republic of Korea

Sustainability, 2023, vol. 15, issue 12, 1-20

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.

Keywords: sustainability; ESG; shipping company; marine; International Maritime Organization (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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