New Year, New Waves: Maritime Efficiency And Accountability Unveiled

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In 2023, the sea travel business saw big changes to using less carbon. This was caused by new rules and better tech tools, along with more people caring about nature. As the industry changes from talking about ideas to doing things, thinking back on last year gets us ready for a useful real perspective of what’s coming in 2024.

Regulatory Milestones and Urgency

In the year 2023, important rule changes happened. These rules include a goal for zero emissions by 2050 made in MEPC meeting number 87 and helped put the Carbon Intensity Indicator (CII) into place. It also added shipping to Europe’s Emissions Trading System (ETS). Now, the focus is on getting real results. So 2024 will be an important year for businesses that are seeing their first-ever reports of CII and carbon emission costs.

Data-Driven Efficiency and Cultural Reset

In 2024, the shift in energy for shipping will have two main focuses – making things more efficient with power and starting again when dealing with agreements. Things like trips getting better, computer stuff and green technology will keep becoming more important. This is because of the use of information to help these features out in a big way. People are becoming more connected and working together, using a group effort for long-lasting improvements in how businesses work.

Sustainability on Multiple Fronts

Besides reducing greenhouse gases (GHG), being sustainable in shipping also means looking at things related to Environment and Social Governance and making sure they are good. People like money lenders, investors who put in their cash, insurance providers and final buyers are shaping the market. The “Corporate Sustainability Reporting Directive” by the EU will put more focus on ESG reporting in 2024. This creates chances for better work efficiency and helps keep companies dedicated to being environmentally friendly.

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Source: The Maritime Executive

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