Cargo Owners for Zero Emission Vessels (coZEV) has announced the addition of 10 companies to coZEV’s collaborative efforts, bringing the total to over 35 freight buyers working together to drive ambition and action toward zero emission ocean transport.
oZEV announced these additional company partners at COP28 in Dubai as part of the Green Shipping Challenge, a joint initiative between the United States and Norway originally launched at COP27 to help put the shipping sector on a path this decade that is aligned with the goal of limiting global temperature rise to 1.5°C .
Originally launched ahead of COP26, the coZEV 2040 Ambition Statement has been a historic collective signal of cargo owner support for a transition to ZE solutions on a 1.5℃ aligned trajectory and remains the most widely adopted and ambitious 1.5℃ aligned collective private sector-led maritime decarbonization goal to date.
Six additional companies – Flexport, Meta, Nestle, Royal Coffee, Standing CT, and Trek Bikes – have joined the 19 existing signatories in stating their intention to only use ZE ocean transport by 2040 and calling on policymakers to support ambitious decarbonization action to support first movers.
Continued company interest in the 2040 Ambition Statement also signals increasing desire from manufacturers, consumer goods companies, retailers, and now freight forwarders to work collaboratively to support innovation, harness economies of scale, and foster an economically viable marketplace for ZE shipping.
Furthermore, the Zero Emission Maritime Buyers Alliance (ZEMBA), an initiative of coZEV formed in March 2023, has announced the addition of four new members: Mondelēz International, Pledge, Reckitt, and REI Co-op, bringing the total to 26 members.
The work being done by climate-leading freight buyers engaged with coZEV, including policy engagement and ambition signaling, and particularly through ZEMBA’s advanced market commitment, has been an important factor in stimulating that movement
… said Ingrid Irigoyen, Director of coZEV and President and CEO of ZEMBA, adding that as they continue to develop innovative ways to collaborate for impact and build economies of scale, they encourage other companies looking to influence the decarbonization trajectory of this essential industry to join them.