Decarbonization has been a long goal for the shipping industry. In April 2018, the IMO adopted an ambitious GHG reduction strategy, aiming to reduce with at least 50% total GHG emissions from shipping by 2050.
Mr. Darr notes that currently shipping contributes 2-3% to the overall man made CO2 loading in the atmosphere. The biggest challenge that the industry must deal with is the lack of available options at scale right now.
Mr Darr comments that
When we look over the horizon at things like hydrogen, ammonia, or green production alcohols, they have better potential to actually get us there in the end.
However, the alternative options are still being researched and discovered and they are over the horizon for the industry to use at scale.
MSC has an active role in finding alternative fuels for its fleet, as Me Darr, talking about decarbonization at the Maritime Transport Efficiency Conference in Geneva informed that the company was also pioneering the use of biofuels within its existing fleet.
Currently, the shipping company uses up to 30% biofuel blends. In addition, Mr. Darr stresses that hydrogen is one of very few that's emerged right now that could be a viable fuel.
He highlights the importance of partnership, collaboration and capital for R&D to bring alternative fuels and alternative propulsion technologies to the marketplace.
Looking on the future of decarbonization, he concludes that
I'm an optimist. I have to be an optimist. I believe this industry can decarbonize and will decarbonize.