November 24, 2022
The very short COP27 shipping summary: The drive to decarbonise the shipping sector is growing, parties in the value chain are collaborating and initiatives that show most progress are linked to developing green shipping corridors, zero-emission fuels and vessels, as well as infrastructure to support the transformation of the industry.
The UN climate conference COP27 took place in Sharm-El Sheikh this month offering an opportunity for nations and industry players to address climate change and offer solutions to decarbonise the shipping sector and achieve net zero emissions by 2050.
Let’s take a look at some of the most important initiatives announced during the COP27 in relation to the decarbonisation of the shipping sector.
On 7t November, the Green Shipping Challenge was launched by US Special Presidential Envoy for Climate, John Kerry, and Norwegian Prime Minister, Jonas Gahr Støre, encouraging all actors in the value chain, including governments, ports, and companies to make concrete commitments related to the production of zero-emission fuels and infrastructure, zero-emission vessels and green corridors to lead the way towards shipping decarbonisation.
Over 40 announcements were made in what marks an encouraging step in the process. Notable announcements include collaborations on the development of green shipping corridors, an initiative with immense potential impact on trading routes in the future, as well as the development of zero-emission fuels and technologies. Collaborations on the creation of green shipping corridors which could significantly improve emission reduction in some of the world’s most travelled trading routes are being discussed between the following nations and ports.
The Getting to Zero Coalition, UMAS, and the UN High-Level Climate Champions emphasized the importance of following an action plan to ensure zero emission fuels make up 5% of international shipping fuels by 2030 and 15% of domestic shipping fuels.
The Getting to 5% action plan reiterates that collaboration across the entire maritime value chain is necessary to achieve the goals set out. Short- and long-term milestones are outlined in the financing and development of zero-emission ships and fuel technology, the policy implications both on national and international levels that will accommodate the shift towards zero-emission shipping, and the support of cargo owners for zero-emission ships to ensure that the demand for this technology and infrastructure is steadily driving the industry towards decarbonisation.
What is especially important with the action plan is that short-term actions and goals are set for players in the value chain making it easier to follow and achieve.
The Marrakesh Partnership Transport Climate Action Pathway has illustrated the active collaboration in the value chain below. The details of the action plan can also be found here : Getting-to-5_An-action-plan-for-delivering-zero-emission-fuels-in-shipping.pdf (globalmaritimeforum.org)
COZEV Declaration to decarbonise their maritime freight by 2040
Members of COZEV, cargo owners for zero emission vessels, have raised their ambitions and declared their aim to decarbonise their own maritime freight by 2040.
In what is called the ‘Roadmap to 2040’, cargo owners have outlined the creation of
Members include Amazon, IKEA and Philips amongst other international players who are essential in driving demand for zero emission ships and technology. Initiatives - coZEV