A global climate agreement that was supposed to set the direction for international shipping towards zero emissions by 2050 was kicked to the curb this week during negotiations at the UN's maritime organization IMO in London. This annoys the industry organization Danish Shipping Companies.
- That's not what we came for. We came to finally close a decisive climate agreement for international shipping. We have been working hard for that in Denmark for a long time, so it's a big disappointment, says Anne H. Steffensen, CEO of Danish Shipping Companies.
The agreement, called the Net Zero Framework, was formulated in April and was supposed to ensure, among other things, a gradual reduction in the greenhouse gas intensity of ship fuel. The plan was that ships with higher emissions than permitted would have to pay, while green ships could earn and trade climate credits.
But the agreement has now been postponed. According to Danish Shipping, this is largely due to geopolitical tensions and a lack of political will. In particular, the price difference between fossil and alternative fuels is pointed out, which is still three to four times higher for the green alternatives.
- Shipping continues to badly need global regulation and thus certainty for the plan for the green transition. This is necessary to support investments in new green ships and the green fuels we will sail on. Unfortunately, there was not the political will in place to complete the work this week. But where there is life, there is hope. The work for the green transition of shipping continues, says Anne H. Steffensen.
The organization emphasizes that global regulation is crucial for investments in green ships and PtX fuels.
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