With climate initiatives now high on the agenda, over 200 signatories within the shipping value chain are supporting the Getting to Zero Coalition in taking action towards net-zero targets for 2050. The industry players are pushing the transition to net-zero fuels and vessels by 2030, as well as calling for the implementation of regulatory frameworks to secure emissions transparency and reduction throughout the supply chain.
In 2018, the International Maritime Organisation (IMO) outlined the ambition for shipping to have reduced its greenhouse gas emissions by at least 50 percent by 2050, compared to 2008 levels. As it stands, if shipping were a country, it would be the sixth largest polluter, and Pole Star is one of the many signatories calling for action to make sure this does not remain the case.
Urgent action is now critical to ensure the world is on its trajectory to reaching net-zero targets, and preventing the business and operational continuity risks associated with last-minute attempts to cut emissions. As a result, we must reach at least 5 percent zero emission fuels in international shipping and have commercially viable zero emission vessels in operation along major trade routes by 2030.
To achieve this, the call-to-action has outlined that collaboration is required to:
- Refine zero emission technologies to ensure safety, reliability, and sustainability
- Implement industrial scale demonstration projects involving the full value chain
- Close the competitiveness gap through mandated policy action
- Unlock global growth opportunities and synergies with other harder-to-abate sectors
The signatories of this call-to-action are already taking action to support this initiative by investing in pilot projects, building zero emission vessels, buying zero emission shipping services, investing in the production of sustainable fuels, investing in port and bunkering infrastructure, and much more.
However, with the private sector leading the way, we are now calling on governments to:
- Commit to decarbonising international shipping by 2050,
- Support industrial scale zero emission shipping projects through national action, and
- Delivery policy measures that will make zero emission shipping the default choice by 2030.
Pole Star’s CEO, Julian Longson, says “At Pole Star we are committed to driving and supporting the decarbonisation of shipping. As a central player in the maritime industry since 1998, we will endeavour to utilise our technology solutions, relationships within the shipping sector, and partnerships with members of the wider supply chain for this purpose. We are strong believers that collaboration is key to facilitating change, and this remains the same when enabling better sustainability practices, creating end-to-end supply chain transparency, and reducing our impact on the planet.”
Click here to learn about Pole Star’s joint solution with carbon accounting solutions provider, CarbonChain.