A report was issued this year estimating the investment needed to decarbonise shipping at about $1.2tr between 2030 and 2050. The work was conducted by UMAS (University Maritime Advisory Services) in the UK for the Copenhagen based Global Maritime Forum.
One of the key points was that this figure does ot apply as much to what shipowners will need to invest, but what needs to be invested into creating a fuel supply chain for a carbon free fuel such as Ammonia. Dr Tristan Smith Reader in Energy and Shipping at the UK’s University College London was behind the report. He was also part of the advisory team for a set of criteria published by the Climate Bonds Initiative that has been developing criteria for different industries so investors know what to look for when seeking investments that are risk free.
In this episode of Aronnax we begin the journey into financing the transformation of shipping by talking to Dr Smith about the $1.2 trillion decarbonisation journey and to Climate Bonds Initiative’s CEO Sean Kidney about how a climate bond for shipping could be defined and how it could become influential.