Shipping Industry Unites to Accelerate Zero-Emission Fuels Adoption
Key Ideas
  • Over 50 leaders in the shipping value chain signed a Call to Action at COP 29 to boost the adoption of zero-emission fuels, emphasizing the need for faster and bolder actions.
  • The joint statement highlights the importance of increasing uptake of zero-emission fuels, investing in zero-emissions vessels, and developing green hydrogen infrastructure on a global scale.
  • Industry members advocate for clear regulations and ambitious mid-term measures to bridge the cost gap between fossil fuels and scalable zero-emission fuels, aiming to achieve net-zero emissions in the maritime sector by 2050.
  • Developing countries, like Namibia, are seen as having a significant opportunity to benefit from decarbonization efforts by attracting investment, creating green jobs, and establishing sustainable e-fuel supply chains.
The shipping industry is taking significant steps towards decarbonization as more than 50 leaders from various sectors signed a Call to Action at COP 29 to accelerate the adoption of zero-emission fuels. The joint statement emphasizes the urgent need for quicker and more decisive actions to increase the usage of zero-emission fuels, invest in eco-friendly vessels, and establish global green hydrogen infrastructure. The push for scalable zero-emission fuel pathways is backed by industry momentum, with a focus on driving technological advancements to reduce production costs of low carbon hydrogen. The maritime sector is identified as a key demand center for low-carbon hydrogen-derived fuels, aligning with the goal of achieving net-zero emissions in the industry by 2050. To support these efforts, industry members are calling for clear regulations, ambitious mid-term measures, and a balanced approach to revenue distribution to facilitate the transition to zero-emission fuels. It is essential to double global green hydrogen production by 2030, with the shipping sector aiming to uptake at least 5 million tonnes of green hydrogen to align with a 1.5°C pathway. Developing countries, such as Namibia, are highlighted as having the potential to capitalize on the decarbonization of the shipping sector by leveraging their resources to attract investments, create green jobs, and establish sustainable e-fuel supply chains. The commitment to green fuels extends beyond vessel owners, with ports, port service companies, and financiers also pledging to invest in hydrogen-derived fuel infrastructure and safety projects to support the transition to zero-emission shipping.
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