The Review of Maritime Transport 2023 urges swift action and system-wide collaboration to decarbonize maritime transport amid growing carbon emissions and regulatory uncertainty, says an article published on their website.
The transition
UNCTAD has called for a “just and equitable transition” to a decarbonized shipping industry in its Review of Maritime Transport 2023 launched ahead of World Maritime Day (28 September).
The agency highlights the pressing need for cleaner fuels, digital solutions and an equitable transition to combat continued carbon emissions and regulatory uncertainty in the shipping industry.
The shipping industry accounts for over 80% of the world’s trade volume and nearly 3% of global greenhouse gas emissions, with emissions escalating by 20% in just a decade.
UNCTAD Secretary-General Rebeca Grynspan said: “Maritime transport needs to decarbonize as soon as possible, while ensuring economic growth. Balancing environmental sustainability, regulatory compliance and economic demands is vital for a prosperous, equitable and resilient future for maritime transport.”
A push for cleaner fuels
UNCTAD, ahead of the United Nations climate conference (COP28) in November of this year, advocates for a shift towards cleaner fuels in shipping, emphasizing the need for an environmentally effective, procedurally fair, socially just, technologically inclusive and globally equitable transition strategy.
The organization underscores the importance of system-wide collaboration, swift regulatory interventions, and robust investments in green technologies and fleets.
While the transition to cleaner fuels is in its early stages, with nearly 99% of the global fleet still reliant on conventional fuels, the report cites promising developments, including 21% of vessels on order designed for alternative fuels.
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Source: UNCTAD
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