- 60 maritime organizations and government partners agreed on a course to deliver the IMO’s net-zero strategy.
- Done at Shaping the Future of Shipping, an event hosted by the International Chamber of Shipping and the government of the UAE
- Over 300 leaders, that included over 30 nationalities from across the world, from the entire energy-maritime value chain convened, to work together
The summit built on the discussions that have taken place throughout COP28, to determine ambitious solutions to advance infrastructure, fuel availability and financing.
Bigger Than Any One Industry
The summit was part of the COP28 presidency program and hosted under the patronage of the UAE Ministry of Energy and Infrastructure. The event was organized by a coalition of leading maritime industry bodies and coordinated by the International Chamber of Shipping (ICS), in partnership with the Emirates Shipping Association. “Decarbonization is bigger than any one industry or government but what is clear is that to be successful in meeting our climate targets the world will need shipping. We know that there are always announcements and noise here at COP meetings, but beyond the razmataz, there are detailed negotiations and talks. This is what today was about,” Emanuele Grimaldi, Chairman of the International Chamber of Shipping, opened the summit saying. “It is the organizations that are sitting in this room today that hold the key in the future of shipping, and it is imperative that we tackle this head-on from all angles by innovating and by developing and scaling next generation fuels, engines and vessels and the ability to carry new fuels like hydrogen, ammonia,” Capt. Abdulkareem AlMessabi, Chairman, Emirates Shipping Association, said.
Going Beyond The Razmataz
Some of the concrete partnerships and actions announced at COP28 include the establishment of the Zero Emission Port Alliance (ZEPA) by Maersk’s APM Terminals and the UAE-based port developer and operator DP World. The industry-wide strategic coalition aims to accelerate the journey to zero emissions for container handling equipment (CHE) at ports. ZEPA membership is open to all industry participants, including terminal operators, original equipment manufacturers (OEMs), port authorities, and government entities. The Chief Executive Officers (CEOs) of leading global shipping lines have issued a joint declaration at COP 28 calling for an end date for fossil-only powered newbuilds and urging the International Maritime Organization (IMO) to create the regulatory conditions to accelerate the transition to green fuels.
In addition, green hydrogen producers have agreed to produce 11 million tons of the low-emissions fuel for use by the shipping sector by 2030 as part of a Joint Commitment that aims to enable the use of renewable hydrogen-derived shipping fuel this decade to meet maritime industry decarbonization targets. The Joint Commitment, organized by the UN High-Level Champions and RMI, was signed by thirty leaders in the shipping sectors, including cargo owners, ship operators, ports, bunkering companies, and equipment manufacturers.
Long Road Ahead
As COP28 unfolded with its overarching theme of phasing out fossil fuels and addressing the pressing need for a sustainable energy transition, a discordant note struck a dissonant chord. Namely, reports of the president of COP28, Sultan Al Jaber‘s dismissal of the ‘scientific’ imperative behind fossil fuel phase-out, coupled with his assertion that such measures would regress the world into an era akin to caves, reverberated through the summit. His comments, deemed by experts as “incredibly concerning” and verging on climate denial, stood in stark contrast to the resolute position expressed by UN Secretary-General António Guterres, who unequivocally emphasized the necessity to phase out all fossil fuels to limit global heating to 1.5°C.
Furthermore, countries like Saudi Arabia and Russia, both members of OPEC and OPEC+, emerged as formidable opponents to a fossil fuel phase-out deal at COP28, according to reports from Reuters citing a letter from OPEC Secretary-General Haitham Al Ghais this week urging country members to reject any COP28 deal targeting fossil fuels. The European Union’s climate chief, Wopke Hoekstra, voiced strong criticism against OPEC’s attempt to derail discussions on phasing out fossil fuels. The oil producers’ club’s move was labeled as “unhelpful” and “out of whack,” drawing sharp rebuke from Hoekstra.
More than 100 countries, including the EU, the United States, and climate-vulnerable island nations, have rallied behind the call for fossil fuel phase-out, recognizing the urgency of deep and rapid cuts to curb escalating climate impacts. That being said, the clash of perspectives highlights the complex interplay between environmental imperatives and economic interests.
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Source: OffshoreEnergy
