Phone:+45 3840 1800, e-mail: info@globalmaritimeforum.org

To reduce emissions by at least 50 percent by 2050, zero emission vessels (ZEVs) and by association zero emissions fuels are a requirement, since improvement in energy and operational efficiencies – while critically important – is not enough, especially as trade volumes continue to grow.

Achieving the 2050 target requires immediate action. Ships can be operated for 20 years or more, which means that the ships entering the world fleet around 2030 can be expected to be operational in 2050. Similarly, infrastructure associated with fuel supply chains can have a long economic life of up to 50 years, and reconfiguration to new fuels can be a lengthy process. As a consequence, there is a need to have technically feasible, commercially viable, and safe zero emission deep sea vessels entering the global fleet by 2030, as well as a clear path to provide the large amounts of zero carbon energy sources¹ needed to allow the rapid uptake of ZEVs in the following decades.

Decarbonizing shipping is an integral part of the wider global energy transition and can be leveraged to drive investment in energy projects, for instance in developing and middle-income countries, where low cost zero carbon energy sources derived from abundant untapped renewable resources could bring substantial development gains.

To reduce emissions by at least 50 percent by 2050, zero emission vessels (ZEVs) and by association zero emissions fuels are a requirement, since improvement in energy and operational efficiencies – while critically important – is not enough, especially as trade volumes continue to grow.

Achieving the 2050 target requires immediate action. Ships can be operated for 20 years or more, which means that the ships entering the world fleet around 2030 can be expected to be operational in 2050. Similarly, infrastructure associated with fuel supply chains can have a long economic life of up to 50 years, and reconfiguration to new fuels can be a lengthy process. As a consequence, there is a need to have technically feasible, commercially viable, and safe zero emission deep sea vessels entering the global fleet by 2030, as well as a clear path to provide the large amounts of zero carbon energy sources¹ needed to allow the rapid uptake of ZEVs in the following decades.

Decarbonizing shipping is an integral part of the wider global energy transition and can be leveraged to drive investment in energy projects, for instance in developing and middle-income countries, where low cost zero carbon energy sources derived from abundant untapped renewable resources could bring substantial development gains.

Coalition member companies from across the maritime, fuels and infrastructure value chains are committed to making the vision of decarbonized shipping a reality by getting commercially viable ZEVs into operation by 2030 along with the associated scalable infrastructure, and we invite our industry peers to join us in this “race to the top” for the future of our industry.

Achieving our ambition, will require commitment, perseverance, innovation and cross industry collaboration as well as the involvement of a wide range of stakeholders from beyond our industries, including from the public sector. We are therefore inviting governments, international organizations, and other stakeholders to work with us to achieve the vision of commercially viable and scalable solutions that enable ZEVs by 2030 and rapid growth of this fleet thereafter. Together we can take a giant leap towards the decarbonized, sustainable and affordable shipping industry needed for our global future.

The Coalition is defined by this ambition and a set of core principles that all members share. Delivery of these shared objectives will require collaboration and commitment from the broad range of stakeholders that form the Coalition.

Coalition members are: Committed: Collectively, we are committed to the decarbonization of deep-sea shipping and its energy value chains in line with the most ambitious interpretation of the IMO Strategy on reduction of GHG emissions from ships and the latest relevant IPCC climate science. Technology-neutral: We will focus on the zero carbon energy sources that are most likely to be technologically, economically, and politically feasible at scale. Action-oriented: We will play our part to deliver tangible progress towards making deep-sea ZEVs and infrastructure/supply chains commercially viable by 2030 by working together as a coalition, by working in smaller partnerships, and by taking action at a company level, as appropriate. Commercially viable: We will work with other stakeholders including lenders and investors, customers, energy companies as well as government and regulators to put the necessary financial incentives and business models in place to make ZEVs commercially viable and scalable at the global level by 2030. Safe: We will work together to ensure that technologies and energy sources are safely adopted and operated, working with industry associations, regulatory bodies and appropriate stakeholders to ensure that relevant safety guidelines, rules and regulations are drafted, implemented and adopted across the shipping and maritime fuels value chains. Inclusive: We will collaborate with stakeholders including companies, governments, intergovernmental organisations, research institutions and NGOs to ensure that sustainable and inclusive growth of shipping becomes a key component of the work of the coalition and contributes to achieve the Sustainable Development Goals. Open: We will invite all stakeholders, who share our ambition and core principles, to become involved in the work of the coalition and share the findings of the work of the coalition openly.