Jamie Hailstone writes in Forbes on how shipping is attempting to decarbonize.
- Shipping is responsible for transporting 80% of the world’s goods and contributes to 2.4% of annual greenhouse gas emissions.
- While there has been substantial interest from investors, some experts believe that a lack of incentives are slowing down the deployment of decarbonization in the shipping industry.
- One solution that has been touted as having the “greatest emissions reduction potential of all” is mechanical rotor sails, which are placed on vessels to collect renewable wind energy.
- As the world looks to reach net-zero, the shipping industry will play a pivotal role. Private-sector financing mechanisms for shipping may need to improve and adjust to reach these goals.
“He added there is also a potential issue regarding who funds retrofitting projects, because of the way in which some ships are financed. In other words, would a bank fund retrofitting work if it was not behind the original financing of the ship itself?”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
