Maritime Industry Leaders Unite for Green Hydrogen at COP29 in Baku
Key Ideas
- Over 50 major players in the maritime industry signed a call to action for green hydrogen at COP29 in Baku.
- The initiative, 'Green Hydrogen and Green Shipping,' advocates for investments in hydrogen-derived fuels for emissions reduction.
- The signatories target 5-10% of the sector's energy to be from zero or near-zero emission sources by 2030.
- Key figures like Fortescue's chairman and the UN Climate Champion stress the importance of swift decarbonization efforts.
During COP29 in Baku, a significant development occurred in the maritime industry as more than 50 key players, including industry giants like Anglo-Eastern, Fortescue, GasLog, Mitsui OSK Lines, and Trafigura, came together to endorse a call to action for green hydrogen. This initiative, named 'Green Hydrogen and Green Shipping,' focuses on advocating for increased investments in hydrogen-derived fuels to combat emissions and expedite the decarbonization of the maritime sector. One of the central goals outlined by the signatories is to ensure that a substantial portion, ranging from 5-10%, of the industry's energy consumption originates from zero or near-zero emission sources by the year 2030.
Fortescue's chairman, Dr. Andrew Forrest, played a prominent role during the event, emphasizing the crucial necessity of implementing a zero-emissions fuel standard. Dr. Forrest warned against the potential negative consequences of wasting valuable time over the next decade on incremental solutions. Additionally, UN Climate Champion Nigar Aparadarai highlighted the importance of inclusive decarbonization efforts that not only benefit the environment but also ensure that all economies reap the rewards without being left behind in the transition to greener practices. The collective efforts and commitments made by these influential industry leaders at COP29 represent a significant step forward in the global push towards sustainable and environmentally friendly practices in the maritime sector.