Posted: 2019/09/24

New Coalition Formed to Support Shipping’s Decarbonization

The ambition of the Getting to Zero Coalition is said to be closely aligned with the UN International Maritime Organization’s (IMO) Initial GHG Strategy. The strategy is supposed to reduce the total annual greenhouse gas emissions from international shipping by at least 50% of 2008 levels by 2050. Specifically, the coalition 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 new coalition has been founded by the Global Maritime Forum, in collaboration with the Friends of Ocean Action, and the World Economic Forum. It represents more than 70 public and private organizations within the maritime, energy, infrastructure and finance sectors, supported by decision-makers from governments and IGO’s. Some of the members include Maersk, Shell, Ocean Network Express (ONE), Norden and Wärtsilä, among others. 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, the Global Maritime Forum concluded in a statement.