▷ Global Maritime Forum: Presentation of the Getting to Zero transition strategy …

28.10.2021 – 19:17

Global Maritime Forum

London (ots/PRNewswire)

Today the Getting to Zero Coalition unveiled its “Zero Emission Movement Strategy”, a comprehensive study of the steps governments, industry and international bodies must take to make the zero-emission shipping transition by 2050.

Shipping has also made changes in the past and can continue to do so in the future. The study, produced by University Maritime Advisory Services (UMAS) for the Getting to Zero Coalition, shows that this transition is an opportunity to create new markets, new technologies and new jobs, and can bring benefits to society as a whole.

The strategy is the first major study of shipping to combine transition theory with techno-economics. It offers new insights into the essential elements of such a transition: the political, technical, economic and commercial requirements and the actions the sector must take to meet them.

“Since 2018, the discussion about decarbonising the industry has been dominated by considerations about the choice of fuels and the chances of carbon pricing at the IMO. This study shows that the decarbonisation of shipping needs a broader perspective. The many levers for change that also arise national and regional levels can and should deserve more attention, “said Dr. Tristan Smith, Associate Professor at UCL Energy Institute and the main author of the report.

The report concludes that the evolution of fuels is not predetermined, but depends on decisions made in the years to come. At this point in the shipping transition, however, the most pressing commercial and policy measures are those that can help increase the production and use of scalable, zero-emission fuels based on hydrogen.

“Industry leadership, collaboration and early-stage investment by the private and public sectors are critical to kickstart the transition and reduce costs and risks. If we achieve 5 percent scalable zero-emission fuels in shipping by 2030 , we can mark the turning point that will allow it to spread rapidly in the decades to come. We estimate that around 10 percent of total fuel consumption in shipping offers promising conditions for the transition to zero-emission fuels in the 1920s, with that goal within reach is advancing, “said Jesse Fahnestock, Head of Research and Analysis beim Global Maritime Forum, presenting the transition strategy at the Annual Global Maritime Forum Summit at Church House, London.

According to the study, the transition to full decarbonisation is possible by 2050, but all actors need to prepare for it in their own way. Those countries and companies that have the potential to support and deploy zero-emission shipping in this decade must begin to work together on it. Those facing major obstacles need to prepare flexible and solid strategies for the rapid change ahead. And all parties should work to ensure that the IMO takes solid action around the world.

“Success is not about finding a single path, but rather a series of actions by various stakeholders that can reinforce and complement each other to fully decarbonise the sector by 2050,” says Margi Van Gogh, Head of Supply Chains and Transport at the World Economic Forum.

The strategy for the transition to emission-free shipping was drawn up by UMAS for the Getting to Zero Coalition with financial support from the Mission Possible Partnership (MPP).

Information on the Getting to Zero Coalition

The Getting to Zero Coalition is an industry-led collaboration platform that brings together leading stakeholders from across the maritime and fuels value chain with the financial sector and other stakeholders. Together they are working to ensure that commercially viable emission-free ships become a scalable reality 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.

Information on the Global Maritime Forum

The Global Maritime Forum is an international non-profit organization committed to shaping the future of global maritime trade to promote sustainable and long-term economic development and human well-being.

Information on Friends of Ocean Action

Friends of Ocean Action is a unique group of over 55 global leaders from business, international organizations, civil society, academia and research who pursue scalable solutions to the ocean’s most pressing challenges. It is received by the World Economic Forum in association with the World Resources Institute.

Information on the World Economic Forum

The World Economic Forum is the international organization for cooperation between the public and private sectors. At the forum, the most important leaders from politics, culture, business and other areas of society come together to design international, regional and industry-wide programs. It was established in 1971 as a non-profit foundation and is based in Geneva, Switzerland. It is independent, impartial and not tied to any particular interests.

Information on UMAS

UMAS provides consulting services and conducts research for a wide range of clients in the public and private sector using models of the shipping system, big data on shipping, and qualitative and sociological analyzes of politics and the commercial structure of the shipping system. UMAS’s work relies on cutting-edge data backed by rigorous models and research practices. This makes UMAS a global leader in two key areas: using big data to understand the causes of shipping emissions and using models to explore shipping’s transition to an emission-free future. For more information visit: www.u-mas.co.uk

Press contact:

Head of Communications
Sofie Rud
[email protected] or +45 28102332

Original content from: Global Maritime Forum, transmitted by news aktuell


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