Industry wide decree calls for climate care
The Global Maritime Forum has brought together a group of 34 CEOs and industry leaders from across the maritime value chain and from all around the world to sign a call for action and to lead the maritime industry in a transition towards a new decarbonised future.
To achieve this, these leaders believe the maritime industry needs to accelerate both technological and business model innovation, further improve operational and technical energy efficiency, and transition to zero-carbon fuels and new propulsion systems.
The leaders support the scientific rationale for urgent action presented by the Intergovernmental Panel on Climate Change and the International Maritime Organization’s greenhouse gas studies.
Together, they emphasize the need to meet the temperature goals of the Paris Agreement and for the maritime industry to phase out greenhouse gas emissions as soon as possible.
The signatory CEOs believe that a shift to a low-carbon economy by 2050 has the potential to create new opportunities for business through both technological and business model innovation.
Claus Hemmingsen, Vice CEO of A.P. Moller – Maersk, said: “Global seaborne trade’s transition to a low-carbon future will propel both technological and business model innovation.
“The right incentives for accelerated investment into R&D can only come about if we get a global IMO based regulation.
“We invite stakeholders from the entire maritime spectrum to join us on this new journey.”
Emissions reduction objectives should be met at the lowest possible cost, and the acceleration to the use of low-carbon technologies and fuels will require significant funding flows for research and development.
The industry should explore the use of carbon pricing and other mechanisms that can create economic value from greenhouse gas emission reductions.