The First Wave – A blueprint for commercial-scale zero-emission shipping pilots
To deploy zero emission vessels globally, new and existing stakeholders will need to work together in creating a new green shipping value chain. To make tangible progress towards this goal over the next three to four years, first movers across the value chain can take five key actions, finds this Getting to Zero Coalition report.
November 11 2020
The maritime industry has no time to waste if it is to meet the International Maritime Organization’s ambition of at least halving emissions from international shipping by 2050. It will require commercially viable zero emission vessels to be operating along deep sea trade routes by 2030. This is the goal of the Getting to Zero Coalition, which brings together more than 120 companies within the maritime, energy, infrastructure and finance sectors, supported by key governments and IGOs.
Produced by the Energy Transitions Commission for the Getting to Zero Coalition, the report catalogues the barriers to the early adoption of zero emission technologies throughout the entire energy value chain. More importantly, it calls attention to five key actions that first movers can take to advance towards zero emission pilots over the next three to four years:
- Join forces to fast-track technology trials and regulatory approvals
- Choose pilot locations that offer privileged access to low-cost renewable electricity
- Seize opportunities to repurpose and retrofit existing infrastructure and assets
- Co-invest in critical equipment such as bunkering assets and vessels
- Form consortiums with key value chain actors to establish voluntary offtake agreements and distribute cost across the value chain to the end-consumer
The report emphasizes that governments have to play a decisive role in supporting the shipping industry’s transition to zero emission.
Commercial-scale demonstration projects will be vital in improving and scaling technologies and reducing cost. They will also help develop new business models and collaborations that can share risks and opportunities across the value chain.
Read the report here.