Amazon, IKEA and Others Commit to Zero Carbon Shipping by 2040

Amazon, IKEA and Others Commit to Zero Carbon Shipping by 2040

Sign on to Cargo Owners for Zero Emission Vessels (coZEV) platform initiated by the Aspen Institute

Through a new collaborative, cargo owner-led network facilitated by the Aspen Institute, a group of climate-forward brands have announced a first-of-its-kind target to progressively switch all of their ocean freight to vessels powered by zero-carbon fuels by 2040.

Amazon, Brooks Running, Frog Bikes, IKEA, Inditex, Michelin, Patagonia, Tchibo, and Unilever are the first signatories to a 2040 ambition statement facilitated by Cargo Owners for Zero Emission Vessels (coZEV).

This ambition statement sends an important demand signal to the maritime value chain and bunker fuel producers that freight customers want zero-carbon shipping and they expect the industry to rapidly accelerate its decarbonization efforts in the years ahead.

It also signals new interest by public-facing and climate-leading consumer goods companies and retailers to work collaboratively, deploy their capacities for innovation, and drive economies of scale to foster an economically viable marketplace for zero-carbon shipping.

Today, maritime shipping powered by heavy fuel oil produces 1 billion tonnes of climate pollution each year — as much as a G7 country or all of America’s coal-fired power plants combined.

Maritime shipping currently accounts for 3% of all global emissions, and could rise to 10% by 2050 if the industry continues to rely on carbon-intensive fuels.

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“The coZEV initiative represents an historic step in the fight against climate change, with its bold ambition to harness corporate climate leadership to accelerate decarbonization of the global maritime shipping industry,” said Ingrid Irigoyen, Director of the Aspen Institute Shipping Decarbonization Initiative, which facilitates the coZEV effort.

Dan Porterfield, President and CEO of Aspen Institute said: “The coZEV network is changing the conversation about climate solutions in maritime shipping—and beyond.

“Maritime shipping, like all sectors of the global economy, needs to decarbonize rapidly if we are to solve the climate crisis, and multinational companies will be key actors in catalyzing a clean energy transition in shipping.

"We applaud the coZEV 2040 ambition statement signatories for their leadership, and we urge other cargo owners, value chain actors, and governments to join forces with us.”

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