White paper
Exploring the Economic Implication of Well-to-Wake Emission Intensities
NEW
The shipping industry is stepping up its efforts to reduce its carbon footprint. More and more companies are setting targets, signing on to the Science Based Targets initiative (SBTi) and offering green shipping solutions to their customers. At the same time, new regulations and policies are being introduced to support the transition to low-carbon shipping.
A majority of the IMO (International Maritime Organization) members are approving a zero-carbon target for 2050 and an introduction of a carbon levy. The IMO has set targets for reducing the carbon intensity of shipping, aiming to lower it by 40% by 2030 and by 70% by 2050, while also reducing absolute emissions by 50% compared to 2008 levels. Discussions on increasing reduction targets are ongoing and expected.
Fuel-related emissions are the primary source of greenhouse gases in shipping. Currently, about 99% of marine fuels are derived from fossil fuels, which contribute significantly to global carbon emissions. To address this issue, shipping companies can take several steps to reduce their fuel- related emissions. One option is to implement efficiency measures such as slow steaming or route optimization, which can help to reduce the amount of fuel consumed by ships. Another option that is gaining importance is the adoption of alternative carbon-neutral or low-carbon fuels, often referred to as "green fuels." These fuels have the potential to significantly reduce emissions from the shipping sector and support the transition to a low-carbon future.
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