In a first-of-a-kind climate finance report, 15 Signatories of the Poseidon Principles disclose the climate alignment score of their ship finance portfolios. The Poseidon Principles Annual Disclosure Report 2020 shows that 3 banks’ ship finance portfolios are aligned with UN decarbonization targets while 12 banks’ portfolios are not. The climate assessment offers banks new insight into their lending decisions and provides opportunity to work with their shipping clients to meet society’s goals.

The decarbonization of shipping will require the creation of a new green shipping value chain. It is urgent to launch a first wave of commercial scale zero emission shipping projects to test new technologies and business models. Cost-lowering and de-risking strategies can reduce the total costs of the first commercial scale zero emission pilots by 30-50% but governments and shipping customers have to play a crucial role in supporting the maritime transport’s energy transition.

Transparency, cross-value chain collaboration and public-private partnerships will be crucial to rebuilding the world economy post COVID-19 while addressing long-term challenges such as the climate crisis.

The Sea Cargo Charter sets a new benchmark for responsible shipping, transparent climate reporting, and improved decision making in line with United Nations decarbonization targets.

Maritime decisionmakers deem a global economic crisis as the issue that can have the greatest impact on the industry in the next ten years, reveals the Global Maritime Issues Monitor 2020. Regardless of the ongoing pandemic, climate and environmental issues remain a top priority and increase in rankings of impact, likelihood, and preparedness.

Essays on seafarer wellbeing, ship recycling, and shipping’s decarbonization win three young professionals from the Philippines, United Kingdom, and South Africa a spot in the Global Maritime Forum’s Virtual High-Level Meeting.

More than 200 representatives from Getting to Zero Coalition members convened virtually this week for the Coalition’s second biannual working session with the objective of advancing the ambition of having commercially viable zero emission vessels operating along deep sea trade routes by 2030. The Coalition members are prepared to move ahead of regulators to develop the technologies and business models needed to meet decarbonization targets.

A new mapping of zero emission pilots and demonstration projects from the Getting to Zero Coalition reveals the scale and breadth of projects already underway and highlights key trends in the maritime sector’s path to decarbonization.

In view of the continuing uncertainty concerning the COVID-19 public health crisis with restrictions on travel and public gatherings, and our commitment to the wellbeing of the maritime community, the Annual Summit that was originally set to take place on 13-14 October in London will be postponed until 2021. In place of an in-person Summit this year, the Global Maritime Forum will organize an interactive Virtual High-Level Meeting this October to bring together its community of decision-makers from around the world.

Studies of Indonesia, Mexico and South Africa will identify tangible business and investment opportunities in green energy projects that can propel maritime shipping’s decarbonization and contribute to sustainable and inclusive growth in developing and emerging economies.