Smarter money, smarter technology, hold the key to a cleaner shipping industry

Improving access to future fuels, upgrading technology onboard ship to smooth the adoption process, changes to customer behaviour and a willingness to pay for pollution; the shipping industry has a big to-do list if it is to achieve targeted carbon emission reductions by the proposed deadlines.  

Leaders from across the maritime industry shared their views on all these topics at the recent ABS Sustainability Summit. Held as a curtain-raiser to the SMM 2022 event in Hamburg, the summit brought together industry participants with the institutions whose work will shape shipping’s energy transition.  

Focussing initially on the challenges facing the industry, the panel discussed short and longer term goals. At present shipping looks likely to still be emitting high levels of CO2 by 2050 and action is needed on several fronts. Clearer regulation is required to support this process and sustainable finance must be available to help first movers.  

For alternative fuels to fully emerge, some require regulatory support while all need some level of new technology implementation. How difficult the process will be depends in part on which fuel is considered – some are still many years from mainstream availability, in either conventional or renewable forms. 

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