The Draghi Report And Clean Industrial Deal: Catalyzing Europe’s Green Transition In Shipping

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The Draghi Report highlights a critical need for €40 billion in annual investments from 2031 to 2050 to support shipping’s energy transition within Europe. Establishing a supply chain for clean fuels is essential to achieve both European shipping’s decarbonization targets and the continent’s overarching climate goals. The forthcoming Clean Industrial Deal offers a valuable chance to support this transition while boosting Europe’s industrial capacity as the global shipping industry targets net-zero emissions by 2050.

Calls to Policymakers by ECSA and T&E

  1. Boost European Industry’s Competitiveness:
    • Position European shipping, clean energy, and technology sectors as leaders in the green transition to secure Europe’s competitive advantage.
  2. Invest in Decarbonization Using ETS Revenues:
    • Channel funds from the EU Emissions Trading System (ETS) into maritime decarbonization initiatives through national and EU plans, enhancing access to public and private financing.
  3. Include Shipping in the Clean Industrial Deal:
    • Commit to manufacturing at least 40% of required clean fuels and technologies within Europe to meet shipping’s climate targets.
  4. Ensure Access to Green Fuels in European Ports:
    • Set supply requirements for green energy on fuel producers in European ports, enabling reliable access for ships.

Sotiris Raptis, ECSA’s Secretary General, emphasizes that Europe’s competitive advantage in green investments is crucial for maintaining a leadership position in global shipping. He encourages policymakers to support clean fuel production and innovative technologies to achieve the sector’s net-zero ambitions by 2050.

Faig Abbasov from T&E echoes this sentiment, pointing out that Europe must lead in producing green hydrogen-derived marine fuels to sustain its shipping industry. He stresses the need for regulatory frameworks that require fuel producers to supply green marine fuels at ports, with carbon market revenues allocated to support these initiatives.

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Source: ECSA