Shipping Industry Unveil Bold Low-Carbon Plans

The organisation that represents the majority of the global shipping industry from each shipping agent to each large container ship manufacturer has submitted bold plans for net-zero carbon shipping by the middle of the century.

The International Chamber of Shipping submitted plans to the International Maritime Organisation, The department of the United Nations that regulates the shipping industry, which would be twice as ambitious as the IMO’s current targets.

At present, the IMO plans to cut international ship emissions in half by 2050, but the ICO has pledged to go further if world governments are willing to invest in low-carbon technologies.

One of the biggest steps is a $5bn (£3.69bn) International Maritime Research Fund, which would allow for investment in green fuels, carbon offsetting technology, a carbon levy for heavy fuel oils and the development of a new fleet of green ships.

The ICS claim that a new ship is expected to last for 25 years, which means that net-zero ships will need to be already active by the end of the decade in order to meet this ambitious target.

The ambitious fund would be paid for by a fuel levy on polluting fuels, set at $2 (£1.40) per tonne, whilst greener biofuels, hydrogen and other fuel sources being suggested as potential avenues for decarbonising the seas.

It also includes an information-sharing proposal between the different innovative industries working in shipping, in order to enable collaboration and increase the pace of progress.

Other proposals that have been made outside of the ICO have been establishing a standard for clean fuel, pollution pricing systems and a blanket ban on new ships that run on fossil fuels.