Reframing Corporate Social Responsibility and Sustainability in the Aftermath of United Nations 2030 Agenda: An Empirical Study into the Tanker and Dry Bulk Maritime Sector

Abstract

Corporate social responsibility (CSR) and sustainable development constitute an integral component of organization's strategy. Nowadays, growing environmental concerns have triggered a plethora of social initiatives and regulatory regimes. In view of United Nations 2030 Agenda, the International Maritime Organization (IMO) and the European Union (EU) have stressed the leading and efficient attributes of shipping transport and committed themselves to the achievement of global sustainability mandates. Similarly, CSR has been identified as a strategic approach to manage sustainability challenges. However, with the exception of few shipping segments, CSR refers to a, relatively, newly introduced notion to the shipping business. Based on a survey questionnaire sent to tanker and /or bulk maritime companies this study aims to investigate CSR and sustainability configurations, as they have been shaped in the light of United Nations 2030 Agenda. Developed hypotheses are tested using Pearson chi-square independence test and Spearman's correlation coefficient measure. Findings illustrate CSR as a strategic management tool to integrate sustainability challenges. Thereafter, the integrated management system (IMS) approach is, highly, indicated as the most effective business model to address sustainability into maritime operations. Though, the lack of a non-legally binding CSR regime is not found to influence companies' decision to adopt CSR.