Copenhagen, Denmark– Full decarbonization of international shipping by 2050 is urgent and achievable. This is the clear message from more than 150 industry leaders and organizations representing the entire maritime value chain, including shipping, cargo, energy, finance, ports, and infrastructure.
In conjunction with the UN General Assembly and ahead of critical climate negotiations at COP26 in Glasgow this November, they call on governments to work together with industry to deliver the policies and investments needed to reach critical tipping points in decarbonizing global supply chains and the global economy.
Signatories to the Call to Action for Shipping Decarbonization include some of the world’s largest actors in global trade: A.P. Moller – Maersk, BHP, BP, BW LPG, Cargill, Carnival Corporation, Citi, Daewoo Shipbuilding & Marine Engineering, Euronav, GasLog, Hapag-Lloyd, Lloyd’s Register, Mitsui O.S.K. Lines, MSC Mediterranean Shipping Company, Olympic Shipping and Management, Panama Canal Authority, Port of Rotterdam, Rio Tinto, Shell, Trafigura, Ultranav, Volvo, and Yara.
Ships transport around 80% of global trade and account for about 3% of global greenhouse gas (GHG) emissions. In 2018, the UN’s International Maritime Organization (IMO) adopted an initial GHG strategy. It aims to reduce international shipping’s total annual GHG emissions by at least 50% of 2008 levels by 2050. The strategy is set to be revised in 2023.
“Beyond being a shortcut for global trade, the Panama Canal has long recognized that shipping decarbonization requires close collaboration and commitment from all players towards a more sustainable supply chain,” said Panama Canal Administrator Ricaurte Vásquez Morales. “Earlier this year we set the strategic objective of becoming a carbon neutral entity by 2030, while maintaining our commitment to participate in the maritime industry’s efforts worldwide.”
« Now is the time to raise our ambitions and align shipping worldwide—a significant carrier of global trade—with the goals of the Paris Agreement. We are working closely with our clients to advance the shipping industry’s transition to net zero emissions and, with the support of strong public policy measures, we can accelerate our collective efforts to decarbonise the global economy, » says Jane Fraser, Chief Executive Officer of Citi.
The private sector is already taking concrete actions to decarbonize shipping. This includes investing in RD&D and pilot projects, ordering and building vessels operated carbon neutrally, buying zero emission shipping services, investing in the production of net-zero emission fuels, investing in port and bunkering infrastructure, and assessing and disclosing the climate alignment of shipping related activities.
« Decarbonizing shipping should leave no country behind. To make the transition to zero emission shipping and fuels equitable and inclusive, policy measures must make sure that decarbonizing shipping also brings jobs and opportunities to people in developing countries and emerging economies, » says Johannah Christensen, Chief Executive Officer of the Global Maritime Forum.(Photo from Dreamstime)