A survey conducted by the Global Centre for Maritime Decarbonisation (GCMD) and Boston Consulting Group (BCG) found that decarbonization ambitions are high, with 73% viewing net zero as a strategic priority and 77% setting concrete targets.
A number of 128 shipowners and operators worldwide provided their feedback. These respondents collectively represent around 14,000 vessels and amass revenues exceeding US$500 billion across various vessel segments and fleet sizes.
The questions were related to zero- or low-carbon future fuels, shipboard carbon capture technology, energy savings technologies (operational efficiency and technological efficiency levers), investment appetites, decarbonisation strategy/roadmaps, etc.
They survey found that the industry has mobilized resources to decarbonize, investing 2% of revenues into green initiatives and having 87% of personnel working toward green objectives. However, adoption of these levers remains mixed, with drop-in fuels constrained by costs and supply-side gaps.
The industry is now at a pivotal point, with nearly 60% of respondents developing decarbonization roadmaps and three-quarters planning to increase their investments in green initiatives. Interventions need to be tailored to the different stages where shipowners and operators are in their decarbonization journey.
Furthermore, three archetypes are identified in the report. Frontrunners, followed by Followers, and Conservatives. Frontrunners have the greatest decarbonization ambitions and are willing to invest heavily to meet these ambitions. They are focused on solutions with immediate and certain value, while Followers are focused on solutions with tighter investment thresholds and a near-term outlook.
Five key actions:
1. Conduct technical pilots and facilitate data sharing for more nascent levers.
2. Create innovative financing mechanisms to de-risk the adoption of less mature levers.
3. Support Conservatives to raise awareness, contextualize levers, and build capabilities.
4. Start to build out future fuels infrastructure and ensure supply at ports.
5. Develop mechanisms to share and equalize costs of adoption across the ecosystem.
The successful implementation of the five key actions outlined in this report demands a whole-of-ecosystem approach. Stakeholders from solution developers and ship operators to financial institutions, classification societies, and regulatory bodies have their parts to play.
By working together, we can transform the maritime sector into a beacon of environmental stewardship, and set a course for a future in which sustainability and commercial success go hand in hand.
… the report highlighted
