Global Shipping Leaders Commit to Green Hydrogen at COP29 in Baku
Key Ideas
  • Over 50 prominent names in the shipping industry, along with numerous ports, have signed a call to action for green hydrogen at COP29 in Baku.
  • The commitment involves prioritizing investment in hydrogen-derived fuels to reduce emissions and transition costs in the maritime sector.
  • Signatories aim for at least 5% - and potentially up to 10% - of energy usage to come from zero or near-zero emissions technologies by 2030.
  • Fortescue's executive chairman advocates for a zero emissions fuel standard, emphasizing the need for real decarbonisation solutions over transitional fuels.
At the ongoing COP29 climate talks in Baku, more than 50 esteemed names in the shipping industry, including Anglo-Eastern, Fortescue, GasLog, and Mitsui OSK Lines, have joined forces to pledge support for green hydrogen. This initiative, titled 'Green Hydrogen and Green Shipping: Amplifying the Power of Hydrogen in a Just and Equitable Transition,' aims to drive the global shipping sector towards a more sustainable future. The signatories have committed to focusing on hydrogen-derived fuels to lower emissions and transition costs within the maritime sector. Nigar Aparadarai, leading the UN Climate Change High-Level Champions Team, stressed the importance of establishing rules that benefit all economies to ensure no one is left behind. Fortescue's executive chairman, Dr. Andrew Forrest, expressed skepticism towards transitional fuels, advocating instead for the International Maritime Organization (IMO) to adopt a zero emissions fuel standard. Forrest highlighted the pivotal decision faced by the industry between incremental measures that yield minimal impact and a robust zero fuel standard that stimulates investments in genuine decarbonisation solutions. This unified call for action signals a significant shift towards a greener and more sustainable shipping industry, setting ambitious targets for the adoption of emission-reducing technologies before the year 2030.
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