LNG is already the industry’s clear choice as transitional fuel
Shipping faces tough decarbonisation choices
Supply chains will be critical as the maritime sector looks for alternative fuels
Shipping accounts for significant greenhouse gas (GHG) emissions, and the industry is accelerating its efforts to meet ambitious UN decarbonisation goals. But it remains unclear which competing solution—or combination of solutions—will prevail. The International Maritime Organisation (IMO) is targeting a 50pc cut in GHG emissions from shipping by 2050, relative to 2008 figures, and wants to slash the sector’s carbon intensity—the amount of CO2 emitted per ton-mile—by 40pc by 2030 and 70pc by 2050. A coalition of IMO member states —which together control a major share of the world’s shipping tonnage and include Greece, Liberia, Japan, Malta, Switzerland and Singapore—propose the organisation
Also in this section
11 December 2024
CCUS and other carbon management technologies are gaining traction around the world, but heightened policy risk and other pressures will make 2025 a challenging year in some regions
10 December 2024
Tightened standards have helped improve the outlook for the voluntary carbon market, which is set for a record year and poised for long-term growth
