The development of book and claim chain of custody systems can play a major role in accelerating the early phases of shipping’s decarbonisation transition.

 

The International Maritime Organization (IMO) is set to adopt its revised greenhouse gas emissions strategy (GHG) at MEPC 80 in London. This meeting will be the most important climate meeting of 2023, which will define the regulatory framework and transitional path for shipping’s decarbonization.

Mexico is uniquely placed to reap the benefits from the global maritime ecosystem’s transition to zero emission fuels over the coming decades through supporting ambitious action through the IMO. This week’s MEPC 79 negotiations present a timely opportunity to advance zero carbon propulsion technologies globally, which could help Mexico to attract investment of 36.7 – 52.8 billion pesos in onshore infrastructure by 2030.

On 22-23 September 2022, the Global Maritime Forum’s Annual Summit hosted more than 200 maritime leaders to explore ideas for action on shipping’s major long-term challenges and opportunities. As the IMO is revising their GHG strategy in 2023, one working group discussed how the maritime industry can help push for more ambitious policy action.

“Polluter pays” principle measures such as a carbon tax, as well as a ban on new fossil-fueled vessels by 2035 were some of the possible policy measures participants mentioned. The participants of the working group stressed the importance of ensuring an equitable transition. Carbon levy revenues should be used to compensate negatively affected states as well as reinvested in green infrastructure.

The Annual Summit 2022 in New York hosted more than 200 maritime leaders, exploring ideas for action on shipping’s major long-term challenges and opportunities. Participants in one working group explored short-term actions that the maritime industry can take to reduce emissions already today.

The working group stressed that operational and technical efficiency are key to achieve GHG emission reduction goals. Optimizing speed on vessels could potentially save up to 25% of its fuel consumption. Participants concluded that these emissions savings would require cross-industry collaboration, increased trust and accountability between stakeholders.

The title of this year’s Global Maritime Forum’s Annual Summit, 22-23 September in New York was inspired by recent global challenges. More than 200 maritime leaders explored how the maritime industry can brave the rough seas of the future.

Participants from one working group discussed ensuring an essential supply of critical goods such as food and energy by keeping them exempt from sanction policies. Increased public-private collaboration was mentioned as a possible driver for ensuring more resilient supply chains in the future.

The Global Maritime Forum’s Annual Summit 2022 took place in New York in September and gathered over 200 maritime leaders to explore ideas for action on shipping’s major long-term challenges and opportunities. One topic discussed by participants was the establishment of Green Shipping Corridors.

Participants from one working group discussed finance, planning and infrastructure, rules and regulations and supporting first movers.

Taking place on 22-23 September 2022, the Global Maritime Forum’s Annual Summit gathered over 200 maritime leaders to explore ideas for action on shipping’s major long-term challenges and opportunities. Working in groups with their peers, one of the main topics participants discussed was the need to increase the overall human sustainability in the maritime industry. For the workforce of the future, purpose, flexibility, inclusivity and decent work conditions trump stability and financial rewards. Participants in this working group pointed out that increased accountability on human sustainability issues will make the maritime industry more attractive to the next generation of talent.

This Insight Brief summarizes discussions from the GMF Annual Summit around the policy imperative to decarbonize shipping in line with the Paris Agreement’s 1.5 degree temperature goal, in the context of the momentum for policy action that has emerged over the past years.