The shipping industry’s journey towards decarbonization is marked by uncertainty, particularly in the realm of alternative fuels, as highlighted in a new report by Sustainable Fitch. Accounting for 2%-3% of global greenhouse gas emissions, the sector faces formidable technological challenges in achieving its net-zero objectives.
Decarbonization Challenges in Shipping
The shipping industry, contributing 2%-3% of global greenhouse gas emissions, grapples with technological obstacles and economic impracticalities in transitioning to low-carbon alternatives.
Infrastructure and Financial Hurdles
Slow progress in developing crucial land networks, and port infrastructure, and a hesitancy in adopting green financing tools hinder shipping companies’ effective response to the challenges of decarbonization.
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Source: Ajot
