DNV includes maritime sector in Pathway to Net-Zero Emissions report 

Classification society DNV recently launched its Pathway to Net-Zero Emissions report (PNZ), ahead of COP28.

DNV said its Pathway to Net-Zero Emissions report points to a feasible – although extremely challenging – roadmap to achieve the Paris Agreement goal of limiting global warming to 1.5°C.

“As world leaders are meeting at COP28 later this month to keep this goal alive, our report outlines what the optimal energy mix looks like in a net zero world by industry sector and region, which technologies will prevail, and how costly it will be (probably less than what most people believe). It also describes that some regions will need to reach net zero way before 2050,” it said. 

The report detailed the pathways to net zero for the nine chosen sectors, including the maritime sector, on both the demand and supply sides, covering technologies and policies.

“We have selected nine sectors that together currently contribute more than 29 Gt to global CO2 emissions, which is over 80% of current global energy-related and industrial process emissions,” it said in the report.

Under the maritime sector, DNV said decarbonising shipping by 2050 requires higher energy efficiency and improved logistics. It will also need a very different fuel mix to today’s predominance of marine fuel oils. This includes new marine fuels derived from low-carbon sources, irrespective of energy-efficiency gains. 

“Our PNZ has a diverse future energy mix comprising both fossil and low-carbon fuels, with fossil fuels gradually phased out,” it said.

The report listed some recommended measures to accelerate green bunker fuel adoption on vessels. 

“A clear, long-term, and predictable regulatory framework for emission reductions will be the key driver for technology development and investing in deploying carbon-neutral bunker fuels and solutions,” the report said.

“Initial policies need to focus on lowering critical barriers such as the cost differential between new and conventional marine fuels.”

It also noted the energy transition in shipping will require major investment in infrastructure and production capacity for supply of carbon-neutral fuels. 

“The onshore investment costs and the higher cost of producing zero-carbon or carbon-neutral fuels will lead to significantly higher fuel costs for ships,” it said. 

In light of fuel-switching ambitions, the report concluded it was vital to ensure that demand for low- and zero-carbon bunker fuels can be met. 

“This is also partially influenced by governmental strategies and policies,” it added. 

Note: The full report of DNV’s ‘Pathway to Net Zero Emissions’ report can be downloaded here.

Photo credit: DNV
Published: 20 November, 2023