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Sustainability among Norwegian maritime firms: Green strategy and innovation as mediators of long‐term orientation and emission reduction
Author(s) -
Saether Erik Andreas,
Eide Ann Elida,
Bjørgum Øyvind
Publication year - 2021
Publication title -
business strategy and the environment
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.123
H-Index - 105
eISSN - 1099-0836
pISSN - 0964-4733
DOI - 10.1002/bse.2752
Subject(s) - norwegian , greenhouse gas , sustainability , business , sustainable development , eco innovation , fossil fuel , environmental economics , industrial organization , climate change , structural equation modeling , natural resource economics , economics , ecology , philosophy , linguistics , statistics , mathematics , biology
This study investigates the relationships between emission reduction, long‐term orientation, green strategy, and green innovation among maritime vessel‐owning firms of various sizes in the Norwegian maritime sector. A change from the utilization of fossil fuels and move toward more sustainable sources of energy demand substantial financial investments and behavioral changes but are fundamental to preventing further climate change. This study examines the greening of the Norwegian fleet through a structural equation model based upon 246 survey responses. Although our model does not show a significant direct relationship between long‐term orientation and emission reductions, we do find that long‐term orientation is indirectly related to emission reductions because of its relationships with green strategy and green innovation. Moreover, as mediators, green innovation and green strategy share direct associations with firms' reductions of greenhouse gases and environmentally harmful emissions. Implications for practitioners and policy makers are proposed.