Maritime and Shipping Sector Emissions

Maritime and Shipping Sector Emissions

The challenge

Shipping is the backbone of world trade, transporting around 80% of global goods. But it is a big emitter of carbon and sulphur dioxide. By 2020, the International Maritime Organization requires that all fuels will contain no more than 0.5% sulphur. By 2050, the target is to decarbonize the shipping industry by 50%.

The action track

Create a ‘coalition for the transformation of shipping’ and a multi-stakeholder platform to scope and test innovations and technologies to drive technology change and decarbonisation in the shipping industry and advance the 50-70% emission reduction target by 2050

Targets

SDG14.1

International Maritime Organisation target to reduce global shipping emissions by 50% by 2050

Partners

GEF/UNDP Global Maritime Energy Efficiency Programme

Global Maritime Forum

IMO Global Industry Alliance to Support Low Carbon Shipping

World Economic Forum Centre for the Fourth Industrial Revolution

World Economic Forum Shaping the Future of Mobility initiative

Governments

Port Authorities

2018

Mapped existing networks of industry players and started conversations with innovators

Engaged in the formalised process for partnership with the Global Maritime Forum to explore how to collaborate and join forces in driving sector’s systemic change

Engaged shipping industry and value chain to start mapping out key innovations

Convened industry, innovators, governments, port authorities and cities to advance solutions

Strengthened links and synergies with the Action Tracks on finance and risk management

Explored further the role of Friends of Ocean Action and the UN Special Envoy on issues of safety, security and biodiversity

2019

Build collaboration and investments to drive change

Convene industry and energy champions as well as innovators to agree on a way forward

Through collaboration with EDF, identify the portfolio of feasible alternatives to fossil fuels, and their time to market / availability, and engage regulators and investors

Identify the core geographical regions for engagement from the alternative’s perspective, and bring onboard

Broaden engagement across the supply chain and of key additional partners, particularly tying into existing initiatives such as the Poseidon Principles for the finance sector

Diversify the conversation to be more geographically inclusive, both from a shipping industry perspective and government / regional engagement

Kick off the collaboration of the shipping industry leaders with other Friends of Ocean Action work streams on data and plastics/waste management in ports as well as on shipping finance and risk management

Map and identify potential investors and identify main R&D gaps; identify the right financing mechanisms to scale up technologies and innovations, and R&D investments

Launch a coalition of champions with concrete and ambitious commitments at the UN Secretary-General’s Climate Summit in September 2019

2020

Launch the Coalition for Transformation Shipping and achieving IMO targets

Announce achievement of IMO target for all ship fuels containing no more than 0.5% Sulphur

Industry change is underway, and the roadmap is being implemented to decarbonise the shipping industry by at least 50 percent by 2050, and beyond

Globally, shipping sector leaders agree on a pathway to decarbonise the industry and key new technologies accessible to support the transition

Other action tracks