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.
Conclusion: Summing it Up!
Thus, CSR would help the shipping industry for:
- Developing green ships right from building and operation to scrapping
- Welfare of ships’ crew and their family in term of safety, security, health and communication
- Going a step further than IMO and other international regulations to ensure the basic rights
- Develop unity in diversity whether it’s age, sex, or nationality.
- Transparency in company objectives
- Communicating company policy in ethical way to associates and suppliers– supply chain management
- Better employee and organization relationship
- Making a shipping company a Quality shipping organization