In a new report which aims to provide a ‘serious wake-up call to the industry’, the UCL Energy Institute, UN Climate Change High-Level Champions and the Getting to Zero Coalition have warned that: ‘The global shipping industry is not on track to meet its target of having zero-emission fuels account for 5% of all fuels by 2030.’
The report said: ‘The majority of actors across the maritime ecosystem … are moving too slowly to meet the internationally-agreed target, with the next 12 months being critical to avoid shipping falling irreparably behind its climate goals’.
According to the report, production of scalable zero-emissions fuel (SZEF) currently in the pipeline could end up covering less than half of the fuel needed to hit the 2030 target, while the current order book of SZEF-capable vessels would only deliver around 25% of required SZEF demand by the same year.
The report added that finance for SZEF is also now off track as more funding [is] going towards fossil-fuelled vessels.
Of the 35 actions ‘required to deliver the 2030 breakthrough’, the report continued, just eight are considered ‘on track’, while 13 have been classed as ‘off track’ – up from eight in last year’s edition of the report. The remaining 14 are only ‘partially on track’.
On a more positive note, the report said that meeting the goal is still achievable if action is stepped up – and it pointed to ‘strong progress’ on actions with regard to policy and supply system changes.
