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
Plastic pollution
Sustainable ocean production: blue food
Ending illegal, unreported and unregulated (IUU) fishing
Marine protection and conservation
Decarbonizing the maritime and shipping sectors
Liberating ocean data
Financing ocean innovation
Eliminating harmful fisheries subsidies
Gender parity
Science-based targets
