Insights
02 June 2021

Decarbonizing shipping – why now is the time to act

Posted by Jose Maria Larocca
  • The shipping industry must reach zero emissions by 2050, and to get there zero-emission ships must become the dominant and competitive choice by 2030.
  • A zero-emission fleet is only viable if zero-emission energy sources are competitive with traditional fuels, yet there is a competitiveness gap the market cannot solve by itself.
  • It is critical for shipping's long-term success the International Maritime Organization and member states show progress by adopting regulation allowing shipping to decarbonize in line with the Paris Agreement.