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OP-ED: SUSTAINABLE SHIPPING NEEDS LARGE-SCALE INITIATIVES AND REGULATORY CLARITY
DETAIL INFORMATION
The shipping sector is at a crucial point. The International Maritime Organization (IMO) has pledged to achieve net-zero emissions by 2050 or thereabouts, setting interim goals for 2030 and 2040. These benchmarks require swift changes in an industry that now accounts for nearly three percent of worldwide greenhouse gas emissions. The forthcoming vote at the IMO in October will decide if the industry receives the clear framework required to expedite its energy transition or if uncertainty persists in hindering progress.
Pilot initiatives and limited demonstrations have served a valuable purpose in evaluating new technologies, but they cannot provide the quantities of cost-effective green fuels necessary to decarbonize the worldwide fleet. Only projects on a giga-scale can deliver the speed, cost savings, and dependability required to achieve the IMO’s ambitious objectives. At InterContinental Energy, we view large-scale projects, underpinned by reliable regulations and collaborations across the industry, as the sole viable way to shape the future of maritime decarbonization.