Managing the risks against carbon neutralization for green maritime transport

Abstract

Maritime transport plays a vital role in global trade. With low transport costs and high service reliability approximately 80% of products are transported by sea. The international nature of maritime transport supports globalized production and consumption patterns. As a result maritime transport is uniquely influenced by the convergence of environmental geopolitical and social factors. One of the environmental factors linked to maritime transport is emissions. Although many steps have been taken to reduce emissions within the scope of carbon neutrality by implementing new technologies and policies the volume of emissions produced in maritime transport is still relatively high and threatens global sustainability. This research attempts to estimate the volume of carbon emissions produced by international shipping using the Simple Exponential Smoothing method. After highlighting the situation this research aims to determine the risks that cause carbon emissions and which should be prioritized using the Graph Theory and Matrix Approach. This approach draws attention to the fact that a scientific basis has remained in the background. This study emphasizes the scientific basis of the method used to estimate carbon emissions ensuring that geopolitical and social risks are taken into account as well as environmental factors. Thus it offers a more comprehensive perspective to help managers and decision-makers in developing emission reduction strategies contributing to the greening of maritime transport. © 2024 Elsevier B.V. All rights reserved.