Environmentalists say the draft plan would see the shipping industry use up its carbon budget by 2031
Maritime countries have been finalizing a plan Thursday to slash emissions from the shipping industry to net zero by about 2050 but experts warn the deal falls well short of what’s needed to prevent climate catastrophe.
Environmentalists say the draft plan would see the shipping industry use up its carbon budget – a calculation of the amount of carbon dioxide various industries and countries can emit before global warming limits are breached – by 2031. The International Chamber of Shipping, which represents 80% of the world’s commercial fleet, was concerned about the “lack of focus” on how to make the targets a reality.
Options range from methanol, ammonia, hydrogen, sustainable biofuels and synthetic fuels, as well as technology like carbon capture, but these are currently not scalable. “Companies who are going to provide emission reduction equipment want a clear signal so they know it is safe to invest in these technologies. This is why it is important to have ambitious 2030 targets,” said John Maggs, shipping policy director at Seas At Risk and president of the Clean Shipping Coalition, who was also part of the meetings.
“As we’re seeing with cars and trucks, when major markets set firm emission standards, the broader market responds,” Rose said. “The solutions exist. It’s a matter of creating policy conditions that force this industry to invest in those solutions rather than pursue profit based on cheap fossil fuels.”
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