Maritime leaders working towards more resilient, sustainable and fair global economy

Transparency, cross-value chain collaboration and public-private partnerships will be crucial to rebuilding the world economy post COVID-19.

Transparency, cross-value chain collaboration and public-private partnerships will be crucial to rebuilding the world economy post COVID-19 while addressing long-term challenges such as the climate crisis, according to maritime leaders at the Global Maritime Forum’s week-long Virtual-High Level Meeting.

“To a greater extent than perhaps ever before, the maritime industry will require productive collaboration between the public and private sectors and across traditionally competitive barriers if it is to contribute fully to reinforcing the resilience of the international supply chain and the preservation of the environment. In doing so, it will be responding to the demands of society at large and demonstrating its sense of global responsibility,” said Peter Stokes, Chairman, Global Maritime Forum.

Senior maritime stakeholders discussed shipping’s decarbonization with a shared sense of urgency and willingness to collaborate across the value chain. They were encouraged to heighten their ambitions in the fight against the climate crisis by the UN Deputy Secretary-General, Amina Mohammed, who stressed the importance of their voice in urging governments for accelerated climate action. 

A carbon levy was widely discussed as a way of enabling shipping’s green transition. Shipping executives would prefer a carbon levy to apply globally, but also see opportunities to help design national and regional schemes in a way that encourages a global approach and raises funds to be used in accelerating shipping’s decarbonization.

If the industry were to aggregate demand for zero emission fuels, this could encourage energy companies to invest in new fuel production facilities, and governments to support the development of the first large scale project.

The humanitarian crisis which occurred when thousands of seafarers were stranded on board vessels, risks leaving long-term consequences for seafarer wellbeing. High-level maritime leaders will establish a task force to address the crew change crisis and work together with governments and other key stakeholders to agree on ways to resolve the untenable situation.

The maritime decision-makers also proposed tangible action on how the industry can become more inclusive and diverse, and how it can attract the best talent. A coalition supported by industry champions will lead the workforce to become more inclusive and diverse.

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