Sustainable Shipping Business Models Through Circular And Accountability Harmony: A Research Agenda

The shipping industry, a key component of global trade, plays a significant role in achieving the Sustainable Development Goals (SDGs) outlined in the United Nations 2030 Agenda. Meanwhile, it also contributes approximately 940 million tons of carbon dioxide (CO2) annually, for which it is undergoing a process of decarbonizing its supply chain to reduce Scope 3 emissions. This involves not only reducing emissions but also measuring and reporting them, striving to balance environmental concerns with profitability. However, Scope 3 emissions fall outside the direct control of shipping companies, as they are tied to the resources and raw materials consumed (e.g., paper, waste) and the emissions of suppliers. Reporting and reducing these emissions are particularly important for shipping companies adhering to frameworks like the Carbon Disclosure Project (CDP), the Global Reporting Initiative (GRI), or the Task Force on Climate-related Financial Disclosures (TCFD). Shipping activities related to fuel production, energy consumption, and waste generation, categorized as upstream Scope 3 emissions under the GHG Protocol Corporate Standard, are influenced by the shipping industry’s business model. This model, when driven by circular economy principles and business accountability, can help mitigate climate change and contribute to the achievement of SDG7 (Affordable and Clean Energy) and SDG13 (Climate Action). Despite growing scholarly interest, these issues remain fragmented, particularly regarding the integration of circular economy models in the shipping industry’s business practices and accountability mechanisms. This study aims to address these gaps by analyzing existing literature and proposing a research agenda to advance knowledge in this area.