- Global shipping faces £600billion bill to meet green targets
- the IMO set plans aimed at cutting the carbon intensity of all ships by at least 40% by 2030
- only 12% of new-build ships have been designed to use lower-carbon alternative fuel systems
Global shipowners will have to spend up to $800billion (£581.4bn) over the course of the next 30 years if they are to meet marine industry ambitions on reducing carbon intensity says an article in Press and journal.
Efforts to shift to net zero power
A new report, Maritime Forecast to 2050, part of DNV’s suite of Energy Transition Outlook (ETO) reports, found only 12% of new-build ships have been designed to use lower-carbon alternative fuel systems. The classification body said this was an increase from the 6% reported by DNV in 2019 as marine industry efforts to shift to net zero power was “gaining momentum”.
Strict new targets
Shipping has been set with strict new targets. Earlier this year, the International Maritime Organization (IMO) set plans aimed at cutting the carbon intensity of all ships by at least 40% by 2030. This was added to earlier pledges to reduce greenhouse gas (GHG) emissions by at least half by 2050 compared with their level in 2008, and working towards phasing out GHG emissions from shipping entirely as soon as possible in this century.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Press and journal
