Stakeholders Across Maritime Value Chain Align to Accelerate Adoption of Zero-Emission Fuels by 2030 for a Sustainable Shipping Future
Global industry leaders build on momentum from previous COPs to strengthen targets and commit to increasing the uptake of zero or near-zero GHG emission shipping fuels to at least 5%, striving for 10%, by 2030.
Baku, Azerbaijan – November 12, 2024
More than 50 leaders across the spectrum of the shipping value chain — e-fuel producers, vessel and cargo owners, ports, and equipment manufacturers — signed a Call to Action today at COP 29 to accelerate the adoption of zero-emission fuels. Organized by RMI, the UN Climate Change High-Level Champions, the UCL Energy Institute, and the United Nations Foundation, the Call to Action demonstrates strong industry momentum to invest in decarbonization through scalable zero-emission fuel pathways.
The joint statement calls for faster and bolder action to increase zero and near-zero emissions fuel uptake, investment in zero-emissions vessels, and global development of green hydrogen infrastructure, leaving no country behind.
“The greater the demand for low carbon hydrogen — such as from chemical plants, refineries, and shipping fuels — the greater the incentive for investments in low carbon hydrogen production. This increased demand will drive the technological development of hydrogen and help reduce its production costs,” said Philip Julien, founder and chairman of Kenesjay Green, a Caribbean-grown, green energy project engineering and development firm. “The maritime sector is poised to be a large demand center for low-carbon hydrogen-derived fuels, helping contribute to the health of our planet and, by extension, ourselves.”
The Call to Action comes as the maritime industry awaits the Marine Environment Protection Committee’s milestone convening in April 2025, where global regulatory architecture will be set for a global fuel standard and a greenhouse gas pricing mechanism to achieve the International Maritime Organization’s (IMO) Revised 2023 GHG Strategy’s ambition of achieving net-zero emissions in the maritime sector by 2050. Industry members are sending a strong signal to global regulators ahead of this convening that clearly defined regulation is needed to strengthen the business case to complement and amplify industry momentum towards decarbonization.
“Nearly a decade after the adoption of the Paris Agreement, the time is now for governments and industry to line up behind an ambitious, IMO-mandated trajectory and mechanisms to drive shipping emissions reductions. Next year’s IMO meetings will consider what is likely the single most important policy decision for driving a new international market for zero-emissions fuels, in turn delivering a massive lift to the emerging green hydrogen market and the important projects required to supply it,” said Alex Hewitt, cofounder and executive board director of CWP Global.
In anticipation of this regulatory milestone, the signatories outline several key recommendations to expedite the adoption of hydrogen-derived fuels, namely the need for clear, ambitious mid-term measures; a balanced approach to revenue distribution to help bridge the cost gap between fossil fuels and scalable zero-emission fuels (SZEFs); and evidence that key milestones for practical use of SZEFs are advancing.
To align with a 1.5°C pathway, global green hydrogen production must double by 2030, translating to the uptake of at least 5 million tonnes of green hydrogen in the shipping sector. To accomplish this, coordinated action is needed across the supply chain to expand the supply and adoption of zero or near zero-emission shipping fuels such as e-ammonia and e-methanol, build up the ecosystem synergistically, and deliver on a just and equitable transition.
Developing countries in particular have a significant opportunity to benefit from the decarbonization of the shipping sector, as they can leverage their unique advantages to attract investment, create skilled jobs, and build sustainable e-fuel supply chains.
“Maritime shipping connects the world, and the industry has a unique opportunity to lead global climate mitigation efforts by committing to green fuels,” said Marco Raffinetti, CEO at Hyphen Hydrogen Energy, a project development company that operates green hydrogen production facilities in Namibia. “Namibia, with its abundant sun and wind resources, can play a vital role in producing these sustainable fuels to not only decarbonise the world’s shipping corridors but also contribute to the creation of thousands of green jobs in Southern Africa. We stand firmly behind this call to action. Now is the time to shift from signaling intentions to making concrete commitments.”
Close collaboration between green hydrogen producers, shipping actors, and policymakers is vital to securing the enabling conditions and investments that will deliver shipping’s clean energy transition.
“The Green Hydrogen Catapult is proud to support this initiative. Collaboration across the maritime value chain is key to an accelerated, just, and equitable transition of the sector to renewable fuels, and partnerships are key to building and maintaining momentum,” said Oleksiy Tatarenko, the leader of RMI’s hydrogen initiatives and the Green Hydrogen Catapult, a coalition of green hydrogen market leaders promoting the aggressive global adoption of green hydrogen.
Ports and port service companies, alongside financiers, have also added their support to the Call to Action, committing to investing in hydrogen-derived fuel infrastructure and safety projects to support bunkering of e-fuels.
Download the Call to Action Statement here.
Media Inquiries please contact:
Rachel Sarah, Media Relations, RMI. Cell: +1 510.928.6122, E: rsarah@rmi.org
About RMI
RMI is an independent nonprofit founded in 1982 that transforms global energy systems through market-driven solutions to align with a 1.5°C future and secure a clean, prosperous, zero-carbon future for all. We work in the world’s most critical geographies and engage businesses, policymakers, communities, and NGOs to identify and scale energy system interventions that will cut climate pollution at least 50 percent by 2030. RMI has offices in Basalt and Boulder, Colorado; New York City; Oakland, California; Washington, D.C.; Abuja, Nigeria; and Beijing. More information on RMI can be found at www.rmi.org or follow us on LinkedIn @RMI.
About the High-Level Champions
The UN Climate Change High-Level Champions, mandated at COP21 and appointed by COP Presidents each year, drive ambitious climate action by connecting the work of governments with the many voluntary and collaborative solutions provided by cities, regions, businesses, investors and civil society. This includes delivering the five-year plan of the Marrakech Partnership, in collaboration with the UNFCCC secretariat and other partners, and flagship campaigns such as Race to Zero and Race to Resilience. H.E. Ms. Razan Al Mubarak and Ms. Nigar Arpadarai serve as the current High-Level Champions for COP28 and COP29.
About UCL Energy Institute
The UCL Energy Institute hosts a world leading research group which aims to accelerate the transition to an equitable and sustainable energy and trade system within the context of the ocean. The research group’s multi-disciplinary work on the shipping and ocean system leverages advanced data analytics, cutting-edge modeling, and rigorous research methods, providing crucial insights for decision-makers in both policy and industry. The group focuses on three core areas: analyzing big data to understand drivers of historical emissions and wider environmental impacts, developing models and frameworks to explore energy and trade transition to a zero emissions future, and conducting social science research to examine the policy and commercial structures that enable the decarbonisation of the shipping sector. For more information visit www.shippingandoceans.com.
About the UN Foundation
For over 25 years, the UN Foundation has built novel innovations and partnerships to support the United Nations and help solve global problems at scale. As an independent charitable organization, the Foundation was created to work closely with the United Nations to address humanity’s greatest challenges and drive global progress. Learn more at www.unfoundation.org.
