Full decarbonization of international shipping is urgent and achievable. This is the clear message from more than 150 industry leaders and organizations representing the entire maritime value chain, including shipping, cargo, energy, finance, ports, and infrastructure. In conjunction with the UN General Assembly and ahead of critical climate negotiations at COP26 in Glasgow this November, they call on governments to work together with industry to deliver the policies and investments needed to reach critical tipping points in decarbonizing global supply chains and the global economy.

Signatories to the Call to Action for Shipping Decarbonization include some of the world’s largest actors in global trade: A.P. Moller - Maersk, BHP, BP, BW LPG, Cargill, Carnival Corporation, Citi, Daewoo Shipbuilding & Marine Engineering, Euronav, GasLog, Hapag-Lloyd, Lloyd’s Register, Mitsui O.S.K. Lines, MSC Mediterranean Shipping Company, Olympic Shipping and Management, Panama Canal Authority, Port of Rotterdam, Rio Tinto, Shell, Trafigura, Ultranav, Volvo, and Yara.

Ships transport around 80% of global trade and account for about 3% of global greenhouse gas (GHG) emissions. In 2018, the UN’s International Maritime Organization (IMO) adopted an initial GHG strategy. It aims to reduce international shipping’s total annual GHG emissions by at least 50% of 2008 levels by 2050. The strategy is set to be revised in 2023.

“Now is the time to raise our ambitions and align shipping worldwide—a significant carrier of global trade—with the goals of the Paris Agreement. We are working closely with our clients to advance the shipping industry’s transition to net zero emissions and, with the support of strong public policy measures, we can accelerate our collective efforts to decarbonise the global economy,” says Jane Fraser, Chief Executive Officer of Citi.

The private sector is already taking concrete actions to decarbonize shipping. This includes investing in RD&D and pilot projects, ordering and building vessels operated carbon neutrally, buying zero emission shipping services, investing in the production of net-zero emission fuels, investing in port and bunkering infrastructure, and assessing and disclosing the climate alignment of shipping related activities.

“For the world to decarbonize, shipping must decarbonize. Our customers are looking to us to decarbonize their supply chain emissions. We are investing significantly in the carbon neutral emissions technologies that are readily available. To make such investments the default choice across our industry, we need a market-based measure to close the competitiveness gap between fossil and zero emission fuels of today and the carbon neutral fuels of tomorrow,” says Henriette Hallberg Thygesen, CEO, Fleet & Strategic Brands, A.P. Moller - Maersk.

“Decarbonising shipping is both critical to achieving net zero global emissions and increasingly urgent. Policymakers have a historic opportunity to accelerate this process by introducing a global carbon levy on marine fuels, to drive decarbonisation and incentivise investment in zero emissions fuels and vessels. The time for action is now,” says Jeremy Weir, Executive Chairman and Chief Executive Officer at Trafigura.

“Ocean resilience is heavily reliant on shipping’s decarbonization. As the maritime sector works to align with Paris Agreement goals through setting ambitious climate targets, we can expect shifts towards healthier marine ecosystems. It is encouraging to see a vast range of stakeholders in the maritime value chain join forces to create low-carbon industries and reverse damage to marine biodiversity.” Kristian Teleki, Director, Friends of Ocean Action at the World Economic Forum.

Signatories of the Call to Action for Shipping Decarbonization call on world leaders to:

Commit to decarbonizing international shipping by 2050 and deliver a clear and equitable implementation plan to achieve this when adopting the IMO GHG Strategy in 2023.

Support industrial scale zero emission shipping projects through national action, for instance by setting clear decarbonization targets for domestic shipping and by providing incentives and support to first movers and broader deployment of zero emissions fuels and vessels.

Deliver policy measures that will make zero emission shipping the default choice by 2030, including meaningful market-based measures, taking effect by 2025 that can support the commercial deployment of zero emission vessels and fuels in international shipping.

The Call to Action for Shipping Decarbonization has been developed by a multi-stakeholder taskforce convened by the Getting to Zero Coalition – a partnership between the Global Maritime Forum, the World Economic Forum, and Friends of Ocean Action. Members of the taskforce include Cargill Ocean Transportation, Citi, the COP26 Climate Champions team, the Energy Transitions Commission, Lloyd’s Register, Port of Antwerp, Torvald Klaveness, Trafigura, Yara, and UMAS.

Learn more about the Call to Action for Shipping Decarbonization and see the full list of Signatories here.

Learn more about what concrete actions Signatories of the Call to Action for Shipping Decarbonization are taking in support of shipping decarbonization here.

Further information: Communications Lead, Gemma Parkes at gemma.parkes@weforum.org

Founding Partners of the Getting to Zero Coalition comment:

World Economic Forum

“A transition towards sustainable shipping will unlock the potential for the innovation, development and scaling of future-fit technologies and infrastructure. However, we have yet to see the peak of GHG emissions from shipping. This cross-value chain opportunity will require support from policymakers to ensure an investable, equitable, just and cohesive transition. The projected “green premium” for shipping is one of the highest among all harder to abate industries, and only concerted policy efforts from the world’s governments can help overcome this competitiveness gap. This support is essential if we are to match production of zero emission fuels with projected demand.” Margi Van Gogh, Head of Supply Chain and Transport, Platform for Shaping the Future of Mobility, World Economic Forum.

Global Maritime Forum

“Decarbonizing shipping should leave no country behind. To make the transition to zero emission shipping and fuels equitable and inclusive, policy measures must make sure that decarbonizing shipping also brings jobs and opportunities to people in developing countries and emerging economies,” says Johannah Christensen, Chief Executive Officer of the Global Maritime Forum.

COP26 Taskforce members comment:

Cargill

“We are pleased to see the industry coming together with this initiative to support the long-term decarbonization of shipping. A key part of its success will be the involvement of regulators, which hopefully will follow suit to further facilitate the transition. At Cargill, we are committed to providing solutions to reduce greenhouse gas emissions across our fleet and the industry.” Jan Dieleman, CEO at Cargill.

COP26 Champions

“The severity of the climate crisis demands radical transformation in every sector and across all sectors, and there is clear evidence that we are rising to the challenge. Around 70% of the global economy is now committed to net-zero by 2050, with business ambition showing governments that they are willing and able to follow the science. With clear policies and sufficient investment, we can convert the ambition of the maritime sector into immediate action across the full value chain, and deliver the 5% tipping point critical to achieving a healthier, more resilient zero carbon world in time.” Nigel Topping, UN High Level Climate Champion for COP26.

Lloyd’s Register Group

“This is the decade in which zero carbon ships and net zero fuel infrastructure will begin to have real impact. But there is much to learn, and the right decisions require all our collective knowledge. Lloyd’s Register is publishing independent evidence and insight, helping steer the industry on the right course.” Nick Brown, CEO at Lloyd’s Register Group.

Port of Antwerp

“Setting targets is only useful when you have the relevant value chain partners to realize them. The main efforts to reach net zero emissions for shipping will take place on land. Port of Antwerp will enable this energy transition by integrating zero-carbon fuels in our own fleet and by facilitating bunker regulation and infrastructure for all other vessels.” Jacques Vandermeiren, CEO at the Port of Antwerp.

Torvald Klaveness

“The task of our generation in this decade is to make sure that the best financial commercial choice you can make on a new build well before 2030 is that it’s a zero-emission vessel. In my view, that can only happen if and when we’re willing to put a price on carbon.” Lasse Kristoffersen, CEO at Torvald Klaveness.

University College London (UCL) & University Maritime Advisory Services (UMAS)

“Shipping’s decarbonisation and transition is getting squeezed from both ends – every year delay in the initiation of deep absolute GHG reduction brings forwards the point at which we have to reach zero to avoid dangerous climate change. Action by corporates/countries/regions/IMO can’t wait for each another to go first – all have to go fast now and fully commit, or fail.” Tristan Smith, Reader in Energy and Shipping, UCL.

Yara

“If we are to reach the Paris Agreement we must decarbonize the so-called hard to abate-industries. This means making decisions today in order to have full effect in 2030. Shipping is such an industry and Yara is investing to become a leading provider of solutions across the value chain including reliable supply of zero-carbon ammonia fuel.” Svein Tore Holsether, President CEO at Yara.

Signatories of the Call to Action for Shipping Decarbonization comment:

BW LPG

“Decarbonizing shipping requires collaboration across the shipping value chain and the Call to Action rallies the industry to work together today, for a better tomorrow. BW LPG is proud to be part of a global coalition that is determined to act, and we look forward to sharing our expertise with our peers.” Anders Onarheim, CEO at BW LPG.

Euronav

“The clock is ticking and everyone MUST focus on decarbonisation. At Euronav, we embraced long ago our corporate responsibility to contribute actively to this extraordinary challenge. We are part of the solution. We have dramatically reduced our ship’s carbon footprint already. Now we accelerate our efforts through a joint development program with key stakeholders that will create the first zero-emissions large tankers in the next 5 years.” Hugo De Stoop, CEO at Euronav.

GasLog

“As a leading owner and operator of LNG carriers, GasLog is delighted to support this Call to Action. The climate challenge is urgent and requires common acknowledgement of the 2050 net-zero climate ambition. Governments have a crucial role in creating a coherent and consistent policy landscape to enable meaningful cooperation between Owners, Charterers, Fuel suppliers, Port Authorities and Technology suppliers. This will allow us to deliver impactful solutions for the value chain.” Paul Wogan, CEO at GasLog.

Hapag-Lloyd

“Shipping needs to decarbonise and thereby help limiting the impacts of climate change. Hapag-Lloyd has achieved significant efficiency increases in the past and is now accelerating activities for fleet decarbonisation. The realisation requires strong industry coalitions and regulatory measures that support the development and production of zero carbon fuels and technology.” Rolf Habben Jansen, CEO at Hapag-Lloyd.

HELMEPA

“The shipping industry, the most efficient and least pollutant mode of long distance freight transportation, has a responsibility towards the future generations to act quickly and impactfully in the global effort to decarbonize. Zero emission vessels entail an innovative, collaborative and organized industry-wide action on an unprecedented scale, involving the entire supply chain. To this end, we must work and act together to achieve commercially viable and sustainable alternatives for our industry. A global effort for a global solution!” Mrs. Semiramis Paliou, Chairperson of HELMEPA’s Board.

Maersk Tankers

“At industry and company level, we are taking action to optimise throughout the value chain and engage actively in innovation to make zero-emission shipping a reality – but we also need help from regulators. Zero-emission fuels must be financially viable. By putting a price on carbon, regulators can close the competitiveness gap between fossil and zero-emission fuels – a challenge that the market cannot solve by itself.” Christian M. Ingerslev, CEO at Maersk Tankers.

MAN Energy Solutions

“The IMO wants greenhouse-gas emissions to fall by 50% by 2050, just one ship-generation away – it’s clear we need to take urgent action. For us, the path to decarbonising the maritime economy starts with fuel decarbonisation. Here, our dual-fuel engine technology meets the growing demand for sustainable shipping chains.” Dr. Uwe Lauber, CEO of MAN Energy Solutions.

Micronesian Center for Sustainable Transport (MCST)

“The science is clear – all carbon emitting sectors must peak now and take 1.5-degree trajectories to decarbonisation. Shipping doesn’t get a free pass. IMO must follow the science. We need to take bold steps to safeguard the future of our planet and transition shipping into a clean sector that leaves no one behind.” Dr. Peter Nuttall, Scientific and Technical Advisor, MCST.

ING Wholesale Banking

“The shipping industry plays a crucial role in the world economy and should take responsibility to reduce its carbon footprint to meet global sustainability targets. With this Call to Action we align with the Net-Zero Banking Alliance commitment and simultaneously strongly encourage governments and policymakers to establish regulations and incentives that support the sector in its net zero ambition.” Andrew Bester, Head of ING Wholesale Banking.

Panama Canal

“Beyond being a shortcut for global trade, the Panama Canal has long recognized that shipping decarbonization requires close collaboration and commitment from all players towards a more sustainable supply chain. Earlier this year we set the strategic objective of becoming a carbon neutral entity by 2030, while maintaining our commitment to participate in the maritime industry’s efforts worldwide.” Ricaurte Vásquez Morales, Panama Canal Administrator.

Port of Rotterdam Authority

“The Port of Rotterdam is committed to achieve net zero CO2 emissions in 2050 whilst having a positive impact on the economy, society and planet. In line with these objectives, we actively promote shipping decarbonisation. The challenges associated with this transition are huge, and we highly appreciate working together with like-minded partners.” Allard Castelein, CEO at Port of Rotterdam Authority.

Synergy Marine

“IPCC’s Sixth Assessment Report (AR6) has yet again reiterated the need for urgent global action towards combatting climate change. The shipping industry must respond to this clarion call as ONE. We are proud to support this ‘Call to Action’ and are committed to push decarbonization from discussion to demonstration.” Capt. Rajesh Unni, Founder and CEO at Synergy Marine Group.

Ultranav

“For us at Ultranav, contributing actively with concrete steps aimed at achieving a transition to zero emissions in the shipping industry is a significant part of our decarbonization strategy. However, our goals will only be reached in an environment of cross-sector collaboration in which governments and international regulators need to provide an adequate policy framework. That is why we support the Call to Action.” Jan Vermeij, CEO at Ultranav.