Press Release: Carbon targets for shipping can only be met with ‘Zero CO2’ Fuels  

PRESS RELEASE: The ambitious CO2 reduction targets set by the UN International Maritime Organization (IMO) for the year 2050 can only be delivered with the global rollout of zero CO2 fuels and propulsion systems says the International Chamber of Shipping (ICS).    

Speaking at the annual Summit of Transport Ministers hosted by the OECD International Transport Forum in Leipzig, ICS Deputy Secretary General, Simon Bennett said:

“As well as being consistent with the 1.5 degree climate change goal, the IMO targets are far more ambitious than what has so far been agreed for aviation, or indeed the commitments made by governments with respect to the rest of the global economy under the Paris Agreement.  But the shipping industry greatly welcomes the IMO agreement because it gives us the signal we need to get on with the job of decarbonizing the sector completely as soon as possible.”

With respect to the IMO goals set for 2050 – a 70% efficiency improvement as an average across the fleet, and a total CO2 cut by the sector of at least 50% by 2050 (regardless of expected growth in maritime trade), Mr Bennett said “these targets can realistically only be achieved with the development and global roll out of genuine zero CO2 fuels.”

“To be clear, zero CO2 fuels means radical and as yet unproven technologies such as hydrogen fuel cells using ammonia or methanol or batteries powered using renewable energy.  While LNG or biofuels will play an important part in the transition we only really see these as interim solutions that won’t deliver the ambitious targets which IMO has now set for 2050.

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