IMO, UNCTAD, IRENA and the World Bank organized a COP 27 side event, on 10 November, exploring opportunities for developing States in renewable fuel production for the maritime industry.
As IMO Secretary-General Kitack Lim, said “decarbonization of international shipping requires a rapid shift from today’s predominant use of fossil fuels to zero-carbon alternatives.”
In the same wavelength, James Mnyupe, Presidential economic adviser, Namibia, stated that:
We need to prioritize decarbonization of hard-to-abate sectors like shipping
Chile is another country poised to support the decarbonization of the maritime sector by using its abundant renewable energy to provide future fuels, according to Diego Pardow, Minister of Energy, Chile.
What is more, Brazil has a long history of producing biofuels (ethanol), with big ambitions to do more, said José Firmo, CEO, Port of Açu, Brazil.
Our ambitions have to be as big as the challenges. When the world is changing for all of us, we cannot stay doing the same things we used to do. This is a big challenge – but also a major opportunity
As for the World Bank, it is actively involved in studies and projects to develop green energy projects, explained Nicolas Peltier, Global Transport Director, World Bank. These include green ammonia and green methanol, including in Morocco, Colombia and Brazil; and hydrogen in Namibia.
The aim is to harness shipping’s decarbonization as a booster to countries’ ambitions to become key suppliers of green fuels.
In addition, the imperative to act means that the energy transition needs to be achieved in just a few decades, with the majority of investment in shipping’s decarbonization taking place in land-based infrastructure. In fact, Lynn Loo, CEO, Global Centre for Maritime Decarbonisation (GCMD), Singapore, highlighted the need to address safety issues of fuels such as ammonia, highlighting pilot studies looking at lessons learned from pilots to demonstrate bunkering of ammonia.
We are at a critical time for energy policy and energy politics. The future hinges on investing in non-fossil fuels. This is a great opportunity for developing countries with solar, wind, thermal, hydro or biomass energy. Innovative financing mechanisms will be needed
said Ms. Rebeca Grynspan, Secretary-General, UNCTAD.
Finally, all speakers emphasized the need for collaboration and cooperation to achieve shipping’s transition. Secretary-General Lim highlighted the wide range of projects and a knowledge partnership mechanism that bring together IMO’s maritime expertise and an unrivalled global network, with partners providing experience, investment and financial expertise, other resources and in-kind support.
Collaboration and partnerships will help us in finding solutions to the issues we face today and IMO, as the leading global forum to regulate international shipping, will continue to support the decarbonization journey and promote a just and equitable transition to zero-carbon shipping, leaving no one behind
Mr. Lim concluded.
