Latest statistics report that only 35% (33 out of 94) of the major global shipping giants aim to be carbon neutral, or have committed to the IMO targets reducing carbon to 50% minimum by 2050.
This assessment was conducted by the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping. The global maritime emissions are contributed by four main groups; tankers, bulk, container and RORO. The findings published show that even though real progress has been made, there is a long way to go before a complete transition has been made towards decarbonisation.
The report, when compared to other industries, suggests only 35% of shipping giants globally are in line with IMO or have pledged to have net zero emissions by 2050. A 2020 KPMG report found that 66% of automotive, 56% of oil and gas, and 45% of transport and leisure companies had sustainability reports with carbon reduction targets.
Bo Cerup-Simonsen, CEO of the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, said:“The MMMCZCS strongly encourages shipowners to set ambitious emissions reduction targets, preferably aligned with a net zero ambition for 2050 or sooner and supplement the pledges with tangible targets and plans already for this decade.”
“Transparency is key for the transition, and there is no doubt that ship owners and operators will increasingly need to be transparent about climate target and actions – not only towards regulators but also to live up to expectations from customers, investors, insurance, the greater public – and not least employees.”
Not only does the responsibility fall on the ship owners, but also the regulators. Audits based on climate-related impacts should be conducted. Requirements should rely on global standards to increase comparability and avoid creating additional reporting burdens, the MMMCZS recommends.
Out of the 30 largest shipping companies, 16 have ambitions set on reducing emissions by 2050. This translates to 69% of the total container maritime fleet capacity in owned deadweight tonnage.