As the global maritime industry continues to navigate the challenging effect of COVID-19, which is causing widespread delays across the entire supply chain, there has been speculation that, at a critical time for decarbonisation, the industry’s sustainable initiatives may be cut back, delayed, or outright suspended.
It is true that many companies within the maritime sector remain committed to a long-term strategy of environmental business practices to help reduce emissions.
Given the limited timeframe we have to innovate, the momentum needed to achieve zero-carbon shipping must increase if the industry is to halve greenhouse gas (GHG) emissions by the target deadlines that have been set.
The International Maritime Organisation (IMO) – the United Nations body that regulates shipping – adopted an initial strategy in 2018 of quantifying carbon intensity and GHG reduction targets for the international shipping sector to ensure it is greener and cleaner.
This includes at least a 40% reduction in carbon intensity by 2030, and at least a 50% reduction in GHG emissions by 2050, while at the same time...
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