Sustainability Analysis of BP Shipping

Sustainability Analysis of BP ShippingIntroductionA shipping federation has assorted impacts on the society and the Earth. In 1986, Gubbins suggested that the service function of a shipping attach to is the transportation of surplus merchandises to fill the gaps mingled with affair nations. The BP Shipping as a shipping confederation manages the hydrocarbon transportation activities crosswise the worlds oceans (bp.com, 2016). Due to the growing efficiency coupled with the expanded trade liberalization, this company like former(a) shipping companies has had a strong growth (Ics-shipping.org, 2016). This company provides a huge employment as flowingly it has around 1,300 seafarers (bp.com, 2015). Further, compared to other companies, the BP Shipping is not only cardinal of the least costly, but too is one the greenest and the least environment onlyy damaging companies (Leal-Arcas, 2013). Nevertheless, the BP Shipping has several environmental impacts including air pollution, ocean dumping, oil color spill, sewage discharge and invasive species. Therefore, since with the current situations the Earth cannot sustain us or its carrying capability for humanity ad infinitum (McDonagh and Prothero, 2014), the sustainability as a megatrend should be addressed in this company (Lubin Esty, 2010).SustainabilitySustainability has lead dimensions, known as The Triple Bottom Line (TBL), which are social, economical and environmental (Henriques and Richardson, 2004). The World Commission on Environment and Development (WCED, 1987) with the Bruntland Report defined sustainable development as development that meets the needfully of the present without compromising the ability of future generations to meet their own require. The TBL and sustainable development can be seen in the following figure. Sustainable trade focuses on achieving the triplet bottom guide to deliver solutions to human needs that are environmentally oriented, moral, viable, and relationship b ased (Beltz and Peattie, 2012).Therefore, the triple bottom line in the BP Shipping will be analyzed.Environmental lookingThis sight focuses on targets and usage of natural resources and zip, waste management and recycling, greenhouse emissions and bio revolution (Bals and Tate, 2016). shipway to reduce the environmental impacts of the BP ShippingManage the greenhouse gas emissions with operational energy efficiency noting that the shipping sector is responsible for 3% of greenhouse gas emissions (Jean-Vasile, 2013).Consider carbon cost in enthronisation appraisals and the engineering design of new projects.Transfer to low Sulphur and unsoiled fuel.Exhaust after-treatment technology (use of Selective Catalytic Reduction combined with a PM filter and an oxidation catalyst) (Han, 2010).Reduce ship speed.Use of land-based post when a ship is in a dry-dock.Manage the oil spills via externally approved oil spill response/contingency plans.Train the seafarers on both prevention an d response to pollution incidents.Reduce the noise produced by ships as a potential threat to migratory species by astir(p) the design and engine of the ships.Recycle and manage the garbage and wastes recycle the ship itself.Manage the ballast water which transfers the invasive species. admission feeible aspectSocial sustainability means to meet the human needs within the limits set by the conditions for ecological sustainability (Lopez, 2008). To assess this aspect, there are elements including education, health and well-being, equity and access to social resources, social capital, and quality of life which should be considered (Thiel, 2016).Elements of social aspect in the BP ShippingShips of the company are the sources of employment for over a thousand seafarers from different nationalities. In addition to seafarers, the company creates jobs for people in the ports to give service to its ships and provides opportunities for local suppliers.The seafarers who run the ships will b e skilful for different aspects of the job.In addition to health insurance and pension plans, the PI clubs protect the seafarers.Ships help the growth of nations economies which lead to social welfare.Since some of the oil and gas suppliers, like some countries in Africa, has the populations with the high level of beggary (marchlandn, 2015), this company has a key role in reducing poverty. economic aspectThe aim of this aspect is to improve a healthy thriftiness in order to produce the resources to meet peoples demands (Ecifm.rdg.ac.uk, 2016). To evaluate this aspect, elements such as income or expenditures, taxes, structure of the economy, business climate factors, employment, Life expectancy, and business diversity factors should be considered (Ibrc.indiana.edu, 2016).Elements of economic aspect in the BP ShippingThe BP Shipping by providing both ship based jobs and shore based jobs has a pick out contribution to employment. Since a part of wages paid to employees will be spent on retail and leisure outlets, this company stimulates economic act in the two areas.This company supports the gross value added contribution to the UKs GDP.It contributes to nations treasury through a combination of direct and indirect taxes.The companys expenditures on inputs of services and goods affect the economy of local suppliers. (Oxford economics, 2015)ConclusionTo conclude, the BP Shipping which has more than one thousand seafarers from different nationalities is responsible for transportation of oil and gas products between different nations. To assist this company to optimize the function of delivering its offerings and services, sustainability marketing focuses on reaching different aspects of sustainability namely social, economic, and environmental by delivering sustainable solutions small-arm constantly satisfying the stakeholders. Regarding environmental aspect, in addition to technology, alternative energy resources and more sustainable operations and logistics are needed to solve the environmental issues (J. Corbett and Winebrake, 2008).With regards to the social aspect, the company by transporting the hydrocarbon products plays a key role in improving the social welfare and reducing the poverty (Marn, 2015). Considering the economic aspects, the company supports employment, gross value added and tax revenues via direct, indirect and induced channels (Oxford economics, 2015).BibliographyBals, L. and Tate, W. (2016). Implementing triple bottom line sustainability into worldwide supply chains. 1st ed. Sheffield, UK Greenleaf.Belz, F-M. and Peattie, K. (2012) Sustainability marketing, a global perspective. John Wiley Sons, Ltd.bp.com. (2015). BP Shipping celebrates 100 years of maritime success. online operational at http//www.bp.com/en/global/corporate/press/press-releases/bp-shipping-celebrates-100-years-of-maritime-success.html Accessed 20 Jan. 2017.bp.com. (2016). About BP Shipping. online getable at http//www.bp.com/en/global/bp-shi pping/about-bp-shipping.html Accessed 20 Jan. 2017.Ecifm.rdg.ac.uk. (2016). Sustainability Indicators. online Available at http//www.ecifm.rdg.ac.uk/inofsd.htm Accessed 8 Jan. 2017.Gubbins, E. (1986). The shipping industry. 1st ed. New York u.a. 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