Monday, September 23, 2019

Aim to See Zero Emissions from Deep Sea Trading Vessels by 2030

Big Industry Hitters form Green Coalition
Shipping News Feature

WORLDWIDE – The Getting to Zero Coalition, an alliance of senior leaders from the maritime, energy, infrastructure and finance sectors, have announced before heads of state and government at the UN Climate Action Summit that they will lead the push for international shipping's decarbonisation, with the mutual goal of having commercially viable zero emission vessels operating along deep sea trade routes by 2030.

International shipping carries around 80% of global trade and accounts for 2-3% of global greenhouse gas emissions annually. According to the 3rd IMO Greenhouse Gas (GHG) study, CO2 emissions from international shipping could grow by between 50% and 250%, depending on future economic growth and energy developments.

The ambition of the Getting to Zero Coalition is closely aligned with the UN International Maritime Organization’s (IMO) Initial GHG Strategy. The strategy prescribes that international shipping must reduce its total annual greenhouse gas emissions by at least 50% of 2008 levels by 2050, whilst pursuing efforts towards phasing them out as soon as possible in this century. This will ultimately align greenhouse gas emissions from international shipping with the Paris Agreement. The Getting to Zero Coalition says that it is committed to making this ambitious target a reality by getting commercially viable deep-sea zero emission vessels powered by zero emission fuels into operation by 2030.

The Getting to Zero Coalition is a partnership between the Global Maritime Forum, the Friends of Ocean Action, and the World Economic Forum. The Coalition is supported by more than 70 public and private organisations. Søren Skou, CEO of one of the members of the Coalition, AP Møller Mærsk, said:

“Energy efficiency has been an important tool which has helped us reduce CO2 emissions per container by 41% over the last decade and position ourselves as a leader 10% ahead of the industry average. However, efficiency measures can only keep shipping emissions stable, not eliminate them. To take the next big step change towards decarbonisation of shipping, a shift in propulsion technologies or a shift to clean fuels is required which implies close collaboration from all parties. The coalition launched today is a crucial vehicle to make this collaboration happen.”

Shipping can accelerate the broader energy transition and bring substantial development gains The Getting to Zero Coalition may prove to be a catalyst for the broader energy transition if international shipping becomes a reliable source of demand for zero emission fuels. This can increase confidence among suppliers and translate into an increased supply of feasible zero emission fuels and thus be an important point of leverage for change across other hard-to-abate sectors. Ben van Beurden, CEO of Royal Dutch Shell, another member, commented:

“Decarbonising maritime shipping is a huge task with no simple answer, but it has to be done. We intend to be part of the long-term, zero-carbon, solution by seeking out the most feasible technologies that can work at a global scale. Starting now is essential because ships built today will stay on the water for decades.”

The demand for zero emission fuels derived from renewable resources has the potential to drive substantial investment in clean energy projects in developing countries with a large untapped renewable energy potential. Jason Lu, Head of the Global Infrastructure Facility (GIF), said:

“The Global Infrastructure Facility stands ready to support governments in emerging markets and developing economies, along with our partner multilateral development banks, with funding and technical expertise to plan, design, and mobilise private investment in the infrastructure solutions necessary to support decarbonisation of shipping and contribute to the goals of the Getting to Zero Coalition.”