World must understand that decarbonisation of shipping is important in order to reach "NET ZERO"
On Saturday, officials from the transport industry and senior government representatives met to unveil details of this high pledge, ahead of key transport talks at COP26. An important difference has emerged as to whether market or regulatory rules will work best to push the industry to zero in total.
Shipping, which carries 90% of the world's trade, accounts for about 3% of the world's total exports - just a little more than the German carbon footprint. If left unchecked, this share could rise to 17% by 2050 as global GDP continues to grow.
Reducing shipping has become a hot topic at the Glasgow international climate conference, with 14 countries signing a declaration last week to reduce shipping to zero by 2050.
Ships and aircraft are the most difficult industries to make decarbonize. They require high fuel prices for international travel, and questions about which country is responsible for emitting greenhouse gases make reaching a treaty a daunting task.
Global conflict
In October, shipping was threatened by UN Secretary-General Antonio de Guterres, who accused the industry of not doing enough to stop global warming. So, are you right?
One of the difficulties in reducing gas emissions is that it is difficult to decide which country to export it Should be based on where the ship's fuel is sold and where the ship is registered, or the origin or destination of the ship's cargo? Each option can lead to very different gas emissions and the corresponding costs of each country.
Rising momentum
Boat sales are expected to grow this year for the first time since the global financial crisis in 2008.
If left unmanaged, shipping and aviation will account for about 40% of all carbon dioxide emissions by 2050, according to a study published by the European Parliament.
With so much at stake, we are finally beginning to see the change, with businesses (and their customers) strongly emphasizing the contribution of ships to climate change. In October this year, nine major companies - including Amazon, Ikea, and Unilever - promised to ship only their goods to zero-carbon fuel ships by 2040.
In addition, three major shipping lanes around the world - Maersk, CMA CGM, and MSC - are actively pursuing the use of alternative fuels and aim to comply with net-zero by 2050 or earlier.
Lack of technology
Many ship engines use low-grade, carbon-heavy fuel, which causes significant air pollution. So some shipowners move to build new ships or convert existing vessels into liquid form gas (LNG) instead.
Although this represents a 25% reduction in CO₂ compared to the current low-level fuel, LNG still emits methane into the atmosphere - a greenhouse gas 30 times more than CO₂.
This points to a major problem with finding a way to extract carbon from shipping: zero-carbon technology that can be used to scale on large ocean-going vessels does not yet exist.
Looking forward to your responses
CHEERS,
@TEKY