ENERGY TRANSITION

Getting to Zero Coalition

Accelerating maritime shipping's decarbonization with the development and deployment of commercially viable deep sea zero emission vessels by 2030.

The Getting to Zero Coalition is a powerful alliance of 70 companies within the maritime, energy, infrastructure and finance sectors, supported by key governments and IGOs. The Coalition is committed to getting commercially viable deep sea zero emission vessels powered by zero emission fuels into operation by 2030 – maritime shipping’s moon-shot ambition.

Background

The Getting to Zero Coalition is a partnership between the Global Maritime Forum, the Friends of Ocean action, and the World Economic Forum. It builds on the Call to Action in Support of Decarbonization launched in October 2018 and signed by more than 70 leaders from across the maritime industry, financial institutions and other stakeholders, as well as on the Poseidon Principles – a global framework for climate-aligned ship financing – launched on 18 June 2019.

The Getting to Zero Coalition brings together decision-makers from across the shipping value chain with key stakeholders from the energy sector as well as from governments and IGOs. The work will be supported by knowledge partners such as UCL Energy Institute, Environmental Defense Fund and the Energy Transitions Commission.

The challenge

International shipping emits 2-3 percent of global GHG emissions, transporting close to 80 percent of global trade by volume. To curb the emissions from shipping, the IMO has agreed on an ambition to reduce GHG emissions from shipping by at least 50 percent by 2050. To reach this goal and to make the transition to full decarbonization possible, commercially viable zero emission vessels must start entering the global fleet by 2030, with their numbers to be radically scaled up through the 2030s and 2040s. This will require both developing the vessels as well as the future fuel supply chain, which can only be done through close collaboration and deliberate collective action between the maritime industry, the energy sector, the financial sector, and governments and IGOs.

The opportunity

Shipping’s decarbonization can be the engine that drives green development across the world. The falling costs of net zero carbon energy technologies make the production of sustainable alternative fuels increasingly competitive. Determined collective action in shipping can increase confidence among suppliers of future fuels that the sector is moving in this direction. This will translate through the supply chain into increased demand for zero emission fuels. It could also be an important point of leverage for change across other hard-to-abate sector, thus accelerating the broader energy transition.

New marine fuels, derived from abundant untapped renewable resources, could also bring substantial development gains. Ports and shipping already underpin many countries’ economic growth; if shipping becomes a reliable source of demand for zero emission fuels, it has the potential to drive investment in energy projects in developing and middle-income countries.

Getting to Zero Coalition: official video

Presentation of the Getting to Zero Coalition at the UN Climate Action Summit 2019 in New York

Press conference announcing the Getting to Zero Coalition at the UN Climate Action Summit 2019 in New York