The cross-industry coalition which is focused the development of ‘commercially viable deep sea zero emission vessels’ to be in operation by 2030, has identified 66 zero emission pilots and demonstration projects in the shipping industry – most of which are publicly funded.
The Getting to Zero Coalition launched in June 2019 and is a partnership between the Global Maritime Form, the Friends of Ocean Action and the World Economic Forum. The initiative builds on the Call to Action in Support of Decarbonisation launched in October 2018, which was signed by over 70 leaders across the maritime industry, financial institutions and other stakeholders. The Coalition also builds on the Poseidon Principles, which was launched by a group of banks last June to develop a global framework for climate aligned ship loans.
In today’s update on its project ‘mapping activities’, the Getting to Zero Coalition says the majority of the projects come from Europe (49), with the next highest geographical concentration being Asia.
According to the coalition, the fact that most of them are publicly funded gives them a higher chance of success.
‘Governments can play a key role in de-risking first mover projects and in supporting the uptake of deep sea zero emission vessels by 2030,’ said Kasper Søgaard, Head of Research at the Global Maritime Forum, a Partner of the Getting to Zero Coalition.
The projects focus either on ship technologies development or fuel production.
‘The majority of projects covering fuel production focus on green hydrogen which is largely due to hydrogen’s position as a ‘building block’ for the production of other fuels such as ammonia or methanol, noted Søgaard.
Some 47 of the projects are planned as demonstration projects which means that they are capable of operation under real-world conditions.
‘Much of what needs to be achieved is already technically possible. The key issue here is to close the competitiveness gap between traditional fossil fuels and new zero emission fuels,’ said Søgaard.
The project mapping exercise will be carried out on a bi-annual basis. More information about the recent exercise can be found here