Evaluation of value creating factors in green shipping corridors
Chandra Prakash Garg, Vishal Kashav, Jasmine Siu Lee Lam
Abstract
• Evaluate 19 factors contributing to value creation in green shipping corridors. • The Fuzzy Stepwise Weight Assessment Ratio method is employed. • Energy Efficiency, Harvesting and Conservation is ranked as a top factor. • Attracting Green Investments is ranked second· Air Quality Improvement is ranked third. Establishing green shipping corridors (GSCs) is a major initiative for addressing maritime decarbonization. This study discusses the intricate set of factors influencing value creation within GSCs, categorizing them into three pivotal domains and further dissecting them into 19 sub-categories. Employing the Fuzzy SWARA (Stepwise Weight Assessment Ratio) method, the hierarchical data from an international panel of 30 experts is rigorously evaluated. The findings reveal compelling insights, highlighting the significance of “ Environmental Factors ” among the identified categories. Findings conclude “ Energy Efficiency, Harvesting and Conservation ,” “ Attracting Green Investments ,” and “ Air Quality Improvement ” to be the critical sub-factors. Additionally, we place significant emphasis on the social category of factors, which is often overlooked in previous research. One of the key contributions of this study is the welfare of surrounding communities, which has been ranked fourth among all sub-categories. The study provides a valuable framework for stakeholders navigating the complexities of sustainable shipping practices.