WINDS OF CHANGE: DETERMINANTS OF DECARBONIZATION INITIATIVE ADOPTION IN THE SHIPPING SECTOR WITH FIRM SIZE AS A MODERATOR

The shipping industry, which accounts for approximately 3% of global greenhouse gas emissions, faces substantial challenges in adopting the Global Decarbonization Initiative to meet the International Maritime Organization’s net-zero target by 2050. This study examines the influence of customer demand, green finance, regulatory frameworks, operational efficiency, technological efficiency, and sustainable energy on the adoption of decarbonization practices, with firm size as a moderating variable. Employing a mixed-methods approach, the research combines six stakeholder interviews with a survey of 90 employees from various shipping firms conducted between 2024 and 2025.The findings reveal that operational and technological efficiencies are the strongest drivers of decarbonization adoption, followed by regulatory frameworks, sustainable energy, green finance, and customer demand. Firm size significantly moderates these relationships, with larger firms being more capable of implementing sustainable practices. Based on these results, tailored strategies are recommended: larger firms should spearhead technological innovation, while smaller firms require targeted support through green finance mechanisms. Limitations of the study include its cross-sectional design and reliance on convenience sampling, highlighting the need for future longitudinal and geographically diverse research.