ICS Secretary-General, Platten on how to decarbonize shipping and African trade

The push to reduce carbon emissions and improve fuel efficiency in the marine industry is gaining momentum as concerns about environmental sustainability continue to grow. Guy Platten, the Secretary-General of the International Chamber of Shipping, recently discussed the challenges and opportunities facing the shipping sector in a bid to decarbonize and move towards a more sustainable future. Platten highlighted that while shipping is considered one of the most environmentally efficient modes of transport, it still accounts for about 3% of global carbon emissions. The industry is working towards achieving a net zero position by 2050, but this goal requires significant research and investment to transition to low carbon fuels. Discussing the outcomes of COP26, Platten expressed disappointment in the lack of concrete action and regulatory certainty around decarbonization efforts. He emphasized the need for governments to support the industry's transition by establishing research and development funds, implementing market-based measures like carbon pricing, and ensuring a just transition that includes all stakeholders, including crews from developing countries. One of the key challenges facing the industry is the disparity in green shipping initiatives, with only a small fraction of global ships set to be green by 2030. Platten emphasized the importance of including all players in the transition to zero carbon fuels and called for more detailed plans and support for developing countries. To achieve the ambitious goal of net zero emissions by 2050, Platten outlined three key recommendations. First, he called for the establishment of a research and development levy for shipping, which would raise funds for innovation without costing taxpayers. Second, he advocated for market-based measures to incentivize the use of low carbon fuels through carbon pricing. Lastly, he stressed the importance of a just transition task force to ensure that all stakeholders benefit from decarbonization efforts. While many shipping companies are willing to invest in sustainable practices, Platten noted the need for government support in infrastructure development and providing certainty around green investments. He estimated that the industry would require trillions of dollars to decarbonize effectively, highlighting the importance of collaboration between governments and industry stakeholders. Looking ahead, the International Maritime Organization has set a target to reduce carbon intensity from shipping by 40% by 2030. Platten expressed confidence in achieving this goal but emphasized the importance of long-term solutions to transition to zero carbon fuels, marking a new era of sustainability in the maritime sector. In conclusion, the path to decarbonizing shipping and promoting sustainable African trade requires coordinated efforts, significant investments, and clear policy frameworks from governments and industry leaders. By working together towards a common goal, the maritime industry can pave the way for a greener and more environmentally friendly future.