Shipping made a breakthrough on climate change in April 2018, when governments at the UN’s International Maritime Organization agreed on an ambitious plan – to at least halve the sector’s greenhouse gas emissions by 2050. Meeting this goal, and those set by the Paris Climate Accord, requires a rapid shift away from the use of fossil fuels.
At our Annual Summit in Hong Kong, CEOs and industry leaders from all around the world signed a Call for Action to lead the maritime industry in a transition towards a new decarbonized future. Since then, the Global Maritime Forum has worked together with public and private stakeholders from the entire maritime spectrum – and beyond – to turn this commitment into concrete action.
In June 2019, we announced the Poseidon Principles. To support maritime shipping’s decarbonization, 11 major shipping banks – representing a bank loan portfolio to global shipping of approximately $100 billion – committed to assessing and disclosing the alignment of their shipping portfolios in relation to the IMO’s Initial GHG Strategy.
In September 2019, we took the next step to announce the Getting to Zero Coalition before heads of state and government at the UN Climate Action Summit in New York.
The Getting to Zero Coalition is a powerful alliance of more than 80 companies within the maritime, energy, infrastructure and finance sectors, supported by key governments and IGOs.
To make the ambitious target of reducing international shipping’s GHG emissions by at least 50% by 2050 a reality, the Getting to Zero Coalition is committed to getting commercially viable deep sea zero emission vessels into operation by 2030. This is maritime shipping’s moon-shot ambition.
Members of the Getting to Zero Coalition have the breadth and power to fast-track maritime shipping’s transition to zero carbon energy sources. We welcome their bold ambition that serves as a leading example for others to follow. We invite leaders who share this ambition to join them in a race to the top to serve global trade in a sustainable manner.
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Getting to Zero Coalition