Try to write at least 800 words, support with examples and some research!

Qn 1

Discuss why it is important to adopt sustainable shipping management practices in the maritime shipping industry.

attached are the supporting notes in case you need them (:

Why adopting SSM or CSR External drivers Law and regulation Public opinion and expectations Views of important institutions (e.g. NGOs and trade associations) Internal motives Protecting brand image / Building reputational capital Risk management Driving innovation, customer loyalty and talent attraction Why adopting SSM or CSR The institutional theory argues that the driver for CSR is institutional pressure. Matten and Moon (2008) identified three key isomorphic processes that lead to increasingly standardised CSR policies and practices in organisations. coercive isomorphism seeking legitimacy through alignment with externally codified rules, norms, or laws; mimetic isomorphism-seeking legitimacy through alignment with best practices/managerial fads; normative isomorphism seeking legitimacy through -alignment wittr espoused standards set by Why adopting SSM or CSR The stakeholder theory argues that a firm should create value for all stakeholders, not just shareholders. A stakeholder is anyone who affects, or is affected by, the actions of an organisation Owners (shareholders and other investors) Banks, credit underwriters and bond holders Employees Suppliers Local communities Society-at large: activists .Gonommante Why adopting SSM or CSR The stakeholder theory argues that a firm should create value for all stakeholders, not just shareholders. Customers: Charterers to report shipping emissions in green initiative (https://www.scacargocharter.org/) Charter signatories have committed to annually calculate emissions intensity and total emissions of their chartering activities. They will then assess their climate alignment with IMO decarbonisation targets in terms of their portfolios carbon intensity - Members will enforce their commitment through the insertion of a Sea Cargo Charter clause in charter parties which signals that shipowners will be expected secondate the collection of relevant information. Tangible Assets: Financial capital . Physical assets Why adopting SSM/CSE Resource-based view (RBV)theory The RBV focuses on the firm's internal resources so as to identify those assets, capabilities and competencies with the potential to deliver superior competitive advantage Categories of resources Tangible Intangible Intangible Assets: Goodwill Intellectual Property Reputation R&D pipelines Customer satisfaction - Health & Safety Environmental performance . Social license to operate Governance . Employee engagement Source: Ocean Tomo, Ocean Tomo's Intangible Asset Market value Study, 2015 Sustainability Dimension Coincides with Shift of Market Value towards Intangibles Why adopting SSM or CSR drivers (stakeholder expectations/requirements) Law and regulation Public opinion and expectations Views of important institutions (e.g. NGOs and trade associations) Internal motives (Building unique resources) Protecting brand image / Building reputational capital Risk management Driving innovation, customer loyalty and talent attraction