Major retail and manufacturing companies including Amazon, IKEA and Unilever have pledged to choose net-zero carbon shipping by 2040 as part of a new cargo owner-led initiative.
The Cargo Owners for Zero-Emission Vessels (coZEV) coalition, led by the Aspen Institute have launched an initiative to set bold targets to accelerate the progression of sea freight towards a zero-carbon future.
Nine companies initially signed the agreement, including:
Given the amount of cargo just these nine companies send across the world each day and given that 90 per cent of the world’s freight is sent by ship, the statement highlights the demand for zero-carbon shipping, incentivising a rapid increase in the adoption of low-carbon technologies.
The statement also called upon policymakers to be ambitious with their policies to encourage decarbonisation.
The 2040 deadline was chosen to allow for the construction of fuel supply chains that do not rely on carbon emissions and allow for technology that is currently being tested to be scaled up to span the entire world.
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