- New report points to significant progress on the 5% goal by industry, 
national governments, and positive developments at the IMO.

The shipping industry is working towards full decarbonization by 2050 at the 
latest and last year anaction plan was launched on which both private and 
public actors can focus their collective efforts around this and coming decades.

The first-of-its-kind "Climate Action in Shipping Report - Progress towards 
Shipping's 2030 Breakthrough,'' 
[https://www.globalmaritimeforum.org/content/2022/09/Climate-action-in-shipping-
progress-towards-shippings-2030-breakthrough.pdf] launching on 21 September 
during New York Climate Week, prior to the Global Maritime Forum Annual Summit, 
and in parallel with the Clean Energy Ministerial Global Clean Energy Forum, 
marks a significant milestone on the road to COP27 and provides an honest 
stocktake of progress to date, highlighting where coordinated effort and 
collaboration is needed.

The report finds there has been "significant progress from industry, national 
governments and positive developments at the IMO", but converting those 
commitments into concrete developments is vital for further progress.
The study, led by Katharine Palmer, Shipping Lead for the UN High level Climate 
Champions team, and Domagoj Baresic, Consultantat UMAS, evaluated the 2030 
breakthrough goals against key levers for change, which include: technology and 
supply, finance, policy, demand, and civil society action.

The Getting to Zero Coalition - an industry led Coalition of more than 200 
members from across the maritime value chain in partnership with the World 
Economic Forum and the Global Maritime Forum - has contributed to the effort by 
validating progress against the five levers of the action plan and held a 
Workshop in Copenhagen in June with Coalition members providing significant 
input from the industry to the way forward achieving actions.

In terms of progress on technology and supply of SZEF (Scalable Zero Emission 
Fuels), the report found that shipping is only "partially on track.'' While 
there are more than 200 shipping decarbonization pilot and demonstration 
projects in the pipeline and progress has been observed regarding bunkering and 
safety guidelines internationally, moving from pilots to SZEF production 
commitments, investments, and infrastructure development is now a key 
requirement.

Based on UMAS analysis, it is expected that the industry will have to commit to 
investing around US$40 billion annually by 2030 for SZEF bunkering and 
production, and the report points to the need for greater clarity on funding 
commitments for SZEF production infrastructure.

It adds that current orders for SZEF-ready ships should increase further, 
whilst a genuine zero carbon freight market is expected to emerge.

On policy, the authors said that it is vital that positive policy signals, such 
as consensus on pricing GHG emissions, translate into firm agreements at the 
IMO in 2023, with the coming year offering an important window of opportunity 
before the revision of the IMO's Greenhouse Gas Strategy.

Katharine Palmer, Shipping Lead at the UN High level Climate Champions team 
said: "To achieve the 2030 Breakthrough goal we need near-term project level 
action describing tangible, collective action required. This report acts as an 
honest stocktake of progress which needs to continue to be monitored and 
tracked. In the run-up to COP27, this is an important milestone to signal a 
true shift to delivery to convert these commitments and pledges to actions and 
solutions"

Domagoj Baresic, Consultant at UMAS said: "In order for the shipping industry 
to decarbonize, multiple actions which can increase production and adoption of 
scalable zero emission fuels in the industry are required now. This report 
provides evidence for the significant progress which has been made to 
decarbonize shipping, yet at the same time shows thatfurther significant action 
is required. The evidence presented shows now is the time to take the necessary 
actions to ensure that by 2030 the industry is committed to a decarbonization 
trajectory."

The UMAS and UN High level Climate Champions report, supported by the Getting 
to Zero Coalition, Lloyd's Register and the Mission Possible Partnership, 
follows the October 2021 publication of an action plan by UN Climate Change 
High Level Champions, UMAS and the Global Maritime Forum setting out the 
specific near-term actions and milestones around which businesses and 
governments can unite based on the 2030 Breakthroughs from the High-Level 
Climate Champions

Source: Getting to Zero Coalition