At the United Nations Global Compact (UNGC) High-Level Ocean for the Future meeting held at the United Nations in New York on September 23, business leaders from shipping, ports, energy companies and banks called on the International Maritime Organization (IMO) Member States to support a global regulatory framework that accelerates the maritime industry’s drive towards net zero by 2050, reports MSC.
Price gap
Once again shipping CEOs from the largest liner companies, including MSC CEO Soren Toft, jointly called for the International Maritime Organization (IMO) to agree on and implement effective regulations to lower the price gap between conventional and net-zero GHG marine fuels, including bio and synthetic LNG. Currently low emission fuels appear 2-5 times costlier than conventional fuels.
MSC has fully supported and committed to net decarbonization by 2050. As such, MSC’s fleet renewal strategy includes over 100 dual fuel LNG containerships on order, and over 300 retrofits already being implemented across the existing fleet.
MSC hopes that a clear consensus will emerge at IMO MEPC, one that balances ambition with pragmatism, and sends a strong signal that governments are up to matching the shipping industry’s commitment to change.
Sustainable and resilient economy
The High-Level Ocean of the Future meeting also showed the need to ensure a sustainable and resilient economy capable of adapting to global disruption. Trade opportunity and the liner shipping sector has for decades empowered communities to reach markets far beyond their coastlines.
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Source: MSC
