In a joint statement October 31, European Shipowners (ECSA) and European green transport group Transport & Environment (T&E) call upon EU leaders to prioritize clean fuel production as part of the upcoming Clean Industrial Deal.
The Draghi Report estimates that €40 billion in annual investments will be needed between 2031 and 2050 for the energy transition of shipping. Building a supply chain for clean fuels in Europe is a priority for the industry to meet its decarbonization targets and for Europe to achieve its climate targets.
The upcoming Clean Industrial Deal is a great opportunity to support the energy transition of shipping, while increasing industrial capacity in Europe, at a time when global shipping is seeking to reach net-zero by 2050.
ECSA and T&E call on the policymakers to:
- Ensure the international competitive advantage of the European industry by positioning shipping, clean energy and technology producers at the forefront of the green transition.
- Accelerate the transition of European shipping by investing ETS revenues into maritime decarbonization through national and EU investment plans, and by facilitating access to public and private finance.
- Include shipping in an ambitious Clean Industrial Deal, ensuring that at least 40% of clean fuels and clean and innovative technologies needed to achieve EU’s climate targets for shipping are manufactured in Europe.
- Enable shipping’s access to green energy through dedicated supply requirements on fuel producers in European ports.
Sotiris Raptis, Secretary General of ECSA, said: “The energy transition has become the new international battlefield of economic competition and security. The Draghi Report has recognized the global leadership of European shipping and the need to remain internationally competitive. Being a frontrunner in green investments puts European shipping in a leadership position internationally.
“We urge policymakers to ensure and further leverage this competitive advantage by investing in clean fuels and innovative technologies for the energy transition. We need all hands on deck to maintain industry’s competitiveness and to achieve net zero emissions by 2050.”
Faig Abbasov, Shipping Director at T&E, said: “As Draghi acknowledges, shipping is one of Europe’s key industries. To maintain its competitive edge, Europe must take the lead in producing green shipping fuels of the future, especially those derived from green hydrogen. Policymakers must fill the regulatory gap by requiring fuel producers to make available green marine fuels in European ports, while carbon market revenues should support this endeavor.”
Photo credit: iStock/ Surasak Suwanmake
