Oxford Energy Podcast – The role of Ammonia and Hydrogen in meeting International Maritime Organisation targets for decarbonising shipping
The world’s shipping fleet is responsible for approximately 0.9 Gt of CO2 emissions annually, around 2.9 per cent of the world’s man-made emissions. Under an IEA ‘business as usual’ scenario, this is forecast to rise to almost 1.7 Gt per year by 2050. The industry’s principal regulatory body, the International Maritime Organization (IMO), aims to reduce world shipping’s greenhouse gas emissions in line with the 2015 Paris Agreement targeting a 50 per cent reduction, compared with 2008 levels, by 2050. The cost of achieving these emission targets however is about $1 trillion and will require focus from regulators, operators and end consumers, who in the end will have to pay. In this podcast David Ledesma talks to Bruce Moore, Howe Robinson Partners, to discuss these issues and ask, in such a fragmented industry, what the immediate priorities for the marine sector must be, and how can it bring about a mix of commercial incentives and regulatory change that result in tangible emissions reductions.