Largest group of shipping execs to gather for landmark decarbonisation conference

Leaders from the world’s biggest shipping companies and representatives from maritime states will be convening with international ministers to translate government ambitions for the decarbonisation of shipping at the United Nations’ COP 26 climate change summit in Glasgow.

The shipping industry’s official COP 26 sideline event, ‘Shaping the Future of Shipping’, will include attendees such as Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), Rt Hon Nusrat Ghani, MP, and Francesco La Camera, Director General of International Renewable Energy Agency (IRENA).

The ministerial-level event on 6th November will feature some of the world’s leading figures from shipping, energy, and finance. The discussions are set to inform the UNFCCC climate conference and the upcoming decarbonisation-defining IMO climate committee meeting.

Attendees will also discuss ways to accelerate much-needed R&D for shipping and a proposed carbon levy.

“This unprecedented meeting of minds has been in the making since 2019, and shipping’s official COP26 event shows the scale of our commitment to decarbonise the sector,” said Guy Platten, Secretary General of the International Chamber of Shipping.

“We are bringing together people that create plans, not promises, and who will not just discuss the challenges within industry but the wider energy transformation required to tackle climate change,” Platten said.

Discussion topics at the conference will include: the challenges and commitments for decarbonisation; the reduction of political and financial risk; and ensuring a just transition.

The global shipping industry has already called on the UN to halve industry’s mandated timeline for full decarbonisation to 2050. The International Chamber of Shipping has also backed a $5bn R&D fund to ensure zero-carbon ocean-going vessels are in the water by 2030. Industry additionally supports a proposal to mandate a carbon levy on ships over 5000 gross tonnes via a global market-based mechanism.

“Shipping is the backbone of the global economy. This has never been more apparent than now,” Platten said.

“As world leaders look to a green future, they must eliminate the political risk around decarbonisation policies. This starts with the energy transition in key industries which underpin global trade,” he said.

The COP26 conference is seeking to create solutions and collaborations between national governments and industry that will advance proposals to create zero-emission ships, accelerate investment and ensure that the transition is equitable.

Source: International Chamber of Shipping