ECSA is a shipping association partner of the shipping conference organised by the International Chamber of Shipping (ICS) on the 6th of November on the margins of UNFCCC COP26 in Glasgow. The ‘Shaping the future of Shipping’ conference will bring together ministers, key policy-makers as well as industry leaders.
Attendees will identify ways to increase investment in R&D and hear about a number of ongoing projects to reduce the emissions from international shipping, which is currently responsible for nearly 3% of global emissions.
ECSA’s President, Claes Berglund is attending COP26 this week. Mr Berglund said “The eyes of the world are upon Glasgow these days. The climate crisis is one of the greatest economic and environmental challenges our societies have ever faced and international cooperation is the solution to global problems of this magnitude. The shipping sector is open and constructive and contributes to the discussions at the COP, the IMO and the EU level. Financing the energy transition of shipping and the investments in low and zero-carbon fuels are key for the competitiveness of the sector and have to be addressed as a matter of priority. Considering the diversity of the shipping industry, it is essential that a sufficient finance and funding mix is provided for the transition”.
ICS has published “A zero emissions blueprint for shipping” identifying 265 R&D projects which could accelerate innovation to decarbonise the maritime sector. An option to fund such projects is the creation of a 5 billion USD R&D fund – the ‘IMRF’ – paid for by shipowners to accelerate investment in new zero emissions technologies.
ECSA has firmly supported a sector dedicated fund to be set up under the EU ETS with earmarking of revenues for shipping to financially support R&D projects and to contribute to lowering the price differential between cleaner and conventional fuels.