The Lloyd’s List Podcast: Here’s how we decarbonise shipping
The shipping industry has been a set a generational challenge — cut greenhouse gas emissions by at least 50% by 2050. But how? Joining Lloyd’s List Editor Richard Meade on this week’s podcast is the esteemed maritime economist Martin Stopford who has a few ideas on how to decarbonise seaborne trade in under 30 years. Spoiler alert — it’s not going to be easy
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FOR an industry built on burning fossil fuels, the International Maritime Organization’s target to halve CO2 emissions by 2050 looks ambitious to say the least.
If growth in seaborne trade continues at the current rate of 3.2% per year, it would mean around 32bn tonnes of cargo being shipped by 2050.
To hit the IMO’s CO2 target, it would require near-total decarbonisation of ship power by that time. But that’s using conventional thinking.
What is called for is a systematic reorganisation of global trade, a shift in ship size, a slowdown in vessel speed, rapid replacement of diesel engines with electric and hydrogen alternatives, a new approach to performance management and a wholesale re-think of organisational structures across the supply chain.
Simple, really.
The renowned maritime economist Martin Stopford joins the podcast this week to walk us through his six-point plan to decarbonise seaborne trade.
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