Tag "decarbonisation"

If the global shipping industry were a country, it would be the world’s sixth-highest CO₂ emitter, ahead of Germany. As an international industry, shipping was not covered by the 2015 Paris climate change agreement that focused on individual nations’ responsibility for critical emissions. But as unprecedented heatwaves, forest fires and flooding raise global awareness of climate change, the shipping industry is starting to make up for lost time.

How significant is their response? And was Maersk’s recent announcement of investing over US$1.4bn in eight post-Panamax containerships that can run on methanol or bunker fuel just a drop in the proverbial ocean? Let’s take a closer look at how shipping is responding to the climate crisis.

There’s no doubting the magnitude of the problem. And the urgent need to tackle it. Maritime shipping accounts for nearly 3% of the world’s annual CO₂ emissions, says the IMO. In 2018, IMO delegates agreed to cut emissions by 50% from 2008 levels by 2050. But with less than three decades to go, the target seems more unattainable than ever. Developing viable alternatives to diesel fuel is a more time-critical challenge than ever before. Can green ammonia solve shipping’s carbon crisis?

Maersk Drilling eyes for investment in new carbon-negative energy. After it’s successful deployment in the Aerospace Industry, the shipping and offshore sector will soon see the deployment of carbon-neutral energy.