Industry coalition announces support for UN moonshot to decarbonize shipping

Image: Mudassir Ali.

A coalition of industry trade organizations and stakeholder groups has announced their support for a so-called moonshot effort to decarbonize the global shipping industry by collaborating with the United Nations.

By Michael McGrady, Maritime Direct Americas & Pacific Correspondent

WASHINGTON — Voicing their support for a multi-billion dollar initiative to decarbonize the international shipping sector, a coalition of flag-states and industry trade organizations have announced their support for the so-called International Maritime Organization Maritime Research Fund. The fund is reportedly fielding a $5 billion contribution.

According to a press release sent to Maritime Direct by email, the coalition is “responding to the UN Secretary-General’s call for “urgency and ambition” on climate change.”

That said, the coalition statement goes on to say that the entire global shipping industry is supporting the billion-dollar efforts with “full and unequivocal” backing to support “a moonshot proposal submitted by governments to catalyze the complete decarbonization of maritime transport by deployment at [a] scale of zero-carbon ships within a decade.

This coalition of organizations includes the World Shipping Council, the International Chamber of Shipping, the Cruise Lines International Association, BIMCO, and seafaring and developing states like Georgia, Greece, Japan, Liberia, Malta, Nigeria, Singapore, Switzerland.

“Decarbonization can only take place with a significant acceleration of R&D, as zero-carbon technologies do not yet exist that can be applied at scale to large ocean-going ships. A well-funded R&D program, which the industry has agreed to pay for within a global regulatory framework, needs to commence immediately under the supervision of the UN IMO,” notes the same statement.

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