Tag: COP27

On 24 March, Denmark and Germany agreed to build a land-based pipeline, making it possible for green hydrogen to flow cross-border from 2028.

The United States of America, the Republic of Fiji, the Republic of Panama and the Pacific Blue Shipping Partnership have announced their intent to engage in technical cooperation to help facilitate the establishment of green shipping corridors.

During 2022, shipping industry joined forces and launched several initiatives to support its Environmental, Social and Governance topics. As the industry is heading towards a more sustainable future, the challenges are many. Improving its image remains a top priority and ESG showcase the positive strides that shipping is making.

Approaching towards the last days of 2022, we take a look back at the most important issues regarding shipping decarbonization.

COP 27 wrapped up with a historic decision to establish a loss and damage fund for vulnerable countries hit hard by climate disasters. And while the high-level meeting was expected to set a more ambitious timeline for shipping to decarbonize, the progress on climate ambition was generally perceived as weak.

Three Port of Gothenburg projects for a green transformation of shipping have been selected by the Swedish government to constitute Sweden's contribution to the international initiative Green Shipping Challenge.

During COP 27 in Egypt, the International Renewable Energy Agency (IRENA) signed a Memorandum of Understanding (MoU) with the Intergovernmental Panel on Climate Change (IPCC). The two parties agreed to exchange knowledge and collaborate on initiatives to accelerate widespread renewable energy adoption to mitigate climate change.

Germany is planning to provide another 550 million euros for the establishment of new hydrogen funds at KfW.

In the margins of COP27, the European Commission announced an additional 10 million euro for a project to reduce international shipping’s greenhouse gas (GHG) emissions.

During COP27, the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping launched the Green Shipping Corridor Hub. This is an interactive platform and toolkit to support the development of green shipping corridors.