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A path to decarbonisation

The Getting to Zero Coalition declared that it would lead the push to decarbonise the maritime shipping supply chain at last week’s UN Climate Action Summit in New York.

The Getting to Zero Coalition is a partnership between the Global Maritime Forum, Friends of Ocean Action, and the World Economic Forum. It is supported by more than 70 public and private organisations.

The coalition aims to achieve the International Maritime Organization’s (IMO) 2050 goal of a 50 percent reduction in carbon emissions from marine shipping. As part of this strategy, the coalition hopes to accelerate the development and deployment of zero-emission vessels on deepsea trade routes by 2030.

Coalition members include leading stakeholders from the maritime and fuel value chains, including financial institutions, NGOs, think tanks and governments. Citi, Cargill, Shell, Maersk and Lloyd’s Register are all members.

Wallenius Wilhelmsen has also joined the coalition and Craig Jasienski, president and chief executive officer of the group, said: “Climate change requires urgent action from all industries, and we are eager to be part of the solution… Our Lean:Green sustainability strategy is built on the belief that striving for what is both economic and sustainable will produce the best results for our planet and our people – as well as our business.”

Commercially viable, zero-emission vessels need to start entering the global fleet by 2030, with significant uptake through the 2030s and 2040s, if the IMO’s 2050 carbon emission targets are to be met. Wallenius Wilhelmsen said that new vessels must be developed and sophisticated fuel supply chains implemented.

“The best chance to achieve the zero emission shipping goal in the shortest amount of time comes from taking a wide scale partnership approach,” added Jasienski. “The challenge calls for innovation across the board: technical, operational, commercial, political and financial, which the Getting to Zero initiative is well equipped to tackle.”

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