OCTOBER 4, 2018 — The chief executives of Euronav, Cargill Ocean Transportation and Gaslog are among a group of 34 CEOs and industry leaders brought together by the Global Maritime Forum that has signed a call for action in support of decarbonization of the marine industry.
To achieve this, they believe the maritime industry needs to accelerate both technological and business model innovation, improve operational and technical energy efficiency, and transition to zero-carbon fuels and new propulsion systems.
The signatory CEOs believe that a shift to a low-carbon economy by 2050 has the potential to create new opportunities for business through both technological and business model innovation.
"Global seaborne trade's transition to a low-carbon future will propel both technological and business model innovation. The right incentives for accelerated investment into R&D can only come about if we get a global IMO based regulation. We invite stakeholders from the entire maritime spectrum to join us on this new journey," says Claus Hemmingsen, Vice CEO of A.P. Moller – Maersk.
"Shipping has so far been exempt from regulations to address the issues around GHG emissions from fuels for ships but the IMO has, after consultation laid a pathway, which requires a fundamental change in the way we fuel our ships," says Euronav CEO Paddy Rodgers. "Shipping must embrace these targets so let's take our responsibility to make sure our industry is heading towards a sustainable future for ourselves and the next generations in line with the expectations of our global stakeholders."
"The International Maritime Organization has successfully aligned the global maritime industry with the climate change targets set in the Paris Accord," says Jan Dieleman, President of Cargill Ocean Transportation. "The shipping sector clearly shares a collective responsibility to transform its operations, build new technologies and infrastructure, and make sustainable shipping a reality. The industry is embracing the challenge and working side-by-side to drive progress and find solutions." CEOs encourage public and private collaboration The CEOs urge their peers to join them in seizing the opportunity to innovate and lead the transition to a new shipping industry for the 21st century.
"Today we urge our peers from the entire maritime value chain to support decarbonization and work with us to deliver the IMO's strategic goal of reducing GHG emissions," says Paul Wogan, CEO of GasLog Ltd. "We encourage all of our customers and suppliers to demonstrate leadership through timely and appropriate action." "Today we urge our peers from the entire maritime value chain to support decarbonization."
The call to action in support of decarbonization is already being followed up by concrete action. The Global Maritime Forum is working together with financial institutions, shipowners, Rocky Mountain Institute, and University College London, on a set of principles for the inclusion of climate alignment and climate risk considerations in lending decisions.
The initial signatories to the call for action are listed below. Others are expected to follow.
Read the call to action HERE
Sources:Global Maritime Forum
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