Green Corridors and Marine Clean Energy Hubs to Unite Shipping Decarbonization Stories and Drive Regulatory Clarity and Consistency

The pivotal role of public-private partnerships in achieving net zero emissions for shipping by 2050 was highlighted by Christopher J. Wiernicki, Chairman, President and CEO of ABS, in his keynote address. keynote at the SHIPPINGInsight 2022 conference.

“We are clearly at the start of a decade of change. For shipping, the challenge and the opportunity lie in two stories: shipping for shipping, which is the decarbonization of our industry, and shipping for the world, highlighting the central role of shipping as catalyst for the global green energy transition. Green Shipping Corridors and Marine Clean Energy Centers unite these two great shipping stories and give us a clear path to 2050. However, we need regulatory clarity and consistency. It’s not just the question of the waking reservoir versus the waking well. It is also very much about the port to ship issue since the inefficiency of the port will have a direct impact on the ship’s efficiency in terms of CO2 emissions,” Wiernicki said.

ABS Chairman and CEO highlights key role of public-private partnerships in achieving Net Zero by 2050, Credits: ABS

“To understand the role of shipping in the transition, we need to understand – and we need governments to understand – how shipping will be the catalyst and transport vehicle to bring the next generation of clean fuels to market. . A prime example of this in action is the emerging market for liquid CO2 carriers. By connecting producers to consumers, maritime transport will be the cornerstone on which all related supply chains will be built. In fact, shipping for the world really shines when you stretch green corridors and connect them to marine clean energy hubs. Shipping is now part of the solution,” he added.

His talk follows the release of ABS’s Green Shipping Corridors -Ledging Synergies paper, an in-depth exploration of green corridors and an overview of their critical contribution to the maritime decarbonization landscape while highlighting the link to energy hubs. The document explains how Green Shipping Corridors will help industry determine the right balance between risk management and commercial success.

“In order to make green shipping corridors a reality, there needs to be a playbook that provides structure around critical success factors. That’s what ABS did,” Wiernicki said. “Green maritime corridors and marine clean energy hubs are interconnected. They bring together all the pieces of the decarbonization puzzle, including point-to-point and spot trade, and address the challenges of a diverse, disaggregated and globally regulated industry with carefully calibrated ecosystems designed to ensure success at scale and pace. These are great examples of the public-private partnerships we will need to climb the steep hill to reach net zero by 2050.”

Reference: ABS

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