INDUSTRY ASSOCIATIONS

By | 2019 Newsletter week 51 | No Comments

Shipping Sector Proposes USD 5 Billion R&D Board to Cut Emissions

The global maritime transport industry has submitted a proposal to form the world’s first collaborative shipping R&D programme to help eliminate CO2 emissions from international shipping. The proposal includes core funding from shipping companies across the world of about USD 5 billion over a 10-year period.

Highlights of the proposal:

  • A new non-governmental Research & Development organisation to pave the way for decarbonisation of shipping.
  • Core funding from shipping companies across the world of about USD 5 billion over a 10-year period.
  • To accelerate the development of commercially viable zero-carbon emission ships by the early 2030s.

“Greta Thunberg is right to say that ‘creative accounting and clever PR’ often lie behind supposed commitments to sustainability, but our plans are transparent, and our regulator has teeth. Now we ask the wider shipping community for their blessing. Change on this scale is difficult and often daunting. But in this case, it could not be more necessary. “

-Guy Platten, Secretary General International Chamber of Shipping