Industry leaders come together to build business case for shipping’s decarbonization

The new P4G Getting to Zero Coalition’s goal is to have commercially viable zero emission vessels operating along deep sea trade routes by 2030.

The new P4G Getting to Zero Coalition Partnership’s goal is to have commercially viable zero emission vessels operating along deep sea trade routes by 2030 as a key step towards achieving the climate goals set by UN maritime agency, the International Maritime Organization.

Global Maritime Forum, World Economic Forum, Friends of Ocean Action, International Association of Ports and Harbors, Environmental Defense Fund, and University College London Energy Institute have partnered with global network P4G to form this new Coalition.

P4G is a collaborative partnership among 12 partner countries: Bangladesh, Chile, Colombia, Denmark, Ethiopia, Indonesia, Kenya, Mexico, the Netherlands, the Republic of Korea, South Africa and Vietnam.

The new P4G Getting to Zero Coalition Partnership builds on the Getting to Zero Coalition, which unites more than 130 public and private organizations and has been endorsed by governments in 14 countries. Collaborative efforts are a requisite to overcome the barriers and reap the rewards of shipping’s green, systemic change.

As a first step, three country-specific opportunity reports of Indonesia, Mexico and South Africa will serve as a national blueprint for reducing emissions from shipping and generate learnings that can be used to involve other developing and emerging economies.

Johannah Christensen, Managing Director, Head of Projects & Programmes, Global Maritime Forum, says: “The P4G Getting to Zero Coalition Partnership will engage with public and private stakeholders from Indonesia, Mexico and South Africa, and together identify concrete, actionable business and investment opportunities that can accelerate shipping’s decarbonization and contribute to sustainable and inclusive economic growth,”

Shipping’s decarbonization is an integral part of the wider energy transition. Marine vessels account for about 4% of global oil demand, making shipping’s green transition both a climate necessity and a trillion-dollar market opportunity to develop the ships and fuels that will drive this transition.