Monday, April 15, 2024

How can the shipping sector unlock the ‘first wave’ of net zero emission shipping?


Shipping faces one of the toughest voyages to net-zero of any industry. While there is broad consensus that zero-emission deep-sea trade vessels must be commercialized by the end of this decade if the sector is to stand any chance of reaching its 2050 climate goal of halving emissions compared to 2008, the low carbon fuels and technology solutions required for shipping decarbonization remain in their infancy.

Now two major industry-backed reports this week have attempted to chart a course for how the shipping industry could ramp up the adoption of the zero-emission technologies and fuels required to create a low carbon shipping sector.

The first, produced by the Energy Transitions Commission, urges the shipping supply chain to come together to support and fast track zero and low emission technology pilots. Unprecedented levels of collaboration are required, the group argues, to ensure that the patrons of the “first wave” of commercial zero-emission projects are not penalized by exorbitant operational and investment costs. Read more…

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