Integrating Corporate Social Responsibility and Maritime Industry

Corporate Social Responsibility (CSR) is now an integral part of every system involving business and branding. CSR is implemented to ensure more ethical trade and business in the market. Even in the maritime industry, CSR is adopted by the shipping companies and marine service providers; however, it is not a subject much talked about in the maritime fraternity because of some obvious reasons.

What is Corporate Social Responsibility (CSR)?

CSR is a code of conduct through which an organization achieves its business goals maintaining the decorum of law, ethical and international standards for safety of people involved in the organization, and protection of environment.

When it comes to maritime sector, the main objectives of CSR are

Focus on welfare of workers, both shore and sea based

Focus on protection of Marine environment

Human rights and ethical trading to be fulfilled

Involvement of stakeholders

Following Business ethics

How CSR works for the Maritime Sector?

When a company or organization is working ethically and is socially responsible, it definitely increase the self esteem of the whole organization. With CSR

The Reputation of the company or organization increases

Since the major portion of employers in shipping are seafarers, they become more loyal to the company and get back to the company after finishing the contract.

Better working environment to shore and sea based association improves work efficiency of the whole organization

Environmental protection will save future human kind

With CSR, the reputational risk of organization increase which in turn provides a clear strategy to perform business activities in ethical manners

Along with IMO and other Maritime conventions, Do We Need CSR?

Shipping is an internationally governed body by IMO with several regulations for protection of environment (MARPOL), safety of workers (SOLAS), welfare of shipping professionals (ILO-MLC) etc. Therefore, the question arises that do we need corporate Social Responsibility?

CSR is not imposed on the company but adopted by it and when such initiative is taken, the company or organization will set a fine standard for itself, its employees, and other players of the industry.