A new coalition with Inditex, Ikea and Amazon aims to decarbonise sea freight by 2040


A new coalition called Cargo Owners for Zero Emission Vessels (COZEV), facilitated by international NGO Aspen Institute, is committed to a one-of-a-kind goal of gradually shifting all their ocean freight to fuel-powered ships. zero carbon by 2040. Among the first nine signatories are Amazon, Brooks Running, Frog Bikes, Ikea, Inditex, Michelin, Patagonia, Tchibo and Unilever.

The objective of the coalition is to accelerate the decarbonization of maritime transport and to jointly develop and offer marketable carbon-free marine fuels. With around 90 percent of global trade transported by sea, global maritime transport accounts for nearly 3 percent of global CO2 emissions. The sector is therefore under increasing pressure to become cleaner.

coZEV / Aspen Institute

“Shipping has long been a major producer of climate and air pollution, and attempts to transition from fossil fuels have encountered significant hurdles, including a perceived lack of demand from freight customers that has stifled investment and scalability of potential solutions. By setting an aggressive goal today, a group of leaders is changing the conversation. And this is just the start, we expect this movement among climate-leading companies to grow rapidly. This will allow us to generate economies of scale, innovation and renewed confidence among investors and value chain actors that there is a business opportunity by doing the right thing ”, commented Ingrid Irigoyen, Director of the Aspen Institute’s Expedition Decarbonization Initiative.

Joining forces with other global shippers is essential for signatories to drive a transformation towards zero emissions shipping. “Tchibo’s supply chain is also heavily influenced by shipping. Over 90 percent of non-food items and raw coffee purchased are transported to Germany by container ships. This is why Tchibo’s CO2 emissions are so strongly influenced by maritime transport ”, explains the German distributor in a press release.

COZEV / Aspen Institute

The United Nations has set a target of reducing industry greenhouse gas emissions by 50% from 2008 levels by 2050, with increasing calls for a more ambitious goal of fully decarbonizing by 2050. A 50% reduction will also require the rapid development of zero- or low-emission fuels and new designs for ships.

“The demands of our global economy have increased over the past year, even as the public increasingly understands the negative impact of shipping emissions on our environment. The COZEV network is the first collaborative effort by ocean freight customers to motivate the rest of the maritime value chain to invest in zero carbon shipping, ”said Greg Gershuny, Executive Director of Aspen’s Energy and Environment Program. Institute.

“COZEV is also unique in its ability to harness the voices of freight owners to call on policy makers at different levels to support this essential clean energy transition in maritime transport. Maritime transport is the lifeblood of world trade, and it must be aligned with the objectives of the Paris Agreement. Policy makers should adopt measures that can make zero-carbon shipping competitive with fossil fuels as soon as possible, ”Gershuny summed up.


Source link

Previous US Futures Boosted By Big Tech Earnings, But Inflation-Driven Rise In Bond Yields Keeps Investors Wary
Next Governor Lee appoints Clay Bright as CEO of Megasite Authority

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *