• Follow Us On Our Preferred Social Media Platform:
News / Environment/ World Fuel Services to join new zero emissions shipping coalition

World Fuel Services to join new zero emissions shipping coalition

24 Sep 2019
news image

New York-listed oil and bunker trading firm World Fuel Services (WFS) on Monday (23 September) said it has joined a new environmental shipping alliance called “Getting to Zero Coalition”.

The group consists of private and public stakeholders within the maritime, energy, infrastructure and finance sectors focused on developing the fuels, energy solutions and technology necessary to develop commercially viable zero emission vessels by 2030.

“We are pleased to be participating in the Getting to Zero Coalition as we join forces with other maritime industry leaders to make a positive impact on our global community,” said Michael J. Kasbar, chairman and chief executive officer of WFS.

“We are committed to leveraging our technical expertise and global logistics capabilities to serve the maritime industry in furthering decarbonization efforts and working together towards zero emissions for a sustainable future.”

The Getting to Zero Coalition was launched on Monday by the World Economic Forum, Global Maritime Forum, Friends of Ocean Action at the United Nations Climate Action Summit.

The Getting to Zero Coalition is part of the Mission Possible platform, an alliance of experts, businesses and policy partners focused on helping seven key sectors – shipping, aviation, heavy-duty road transport, aluminium, chemicals, cement and concrete, and iron and steel – achieve climate neutrality by 2050.

“The Forum is committed to helping those industries that face the greatest challenges in meeting the Paris Climate Goals achieve net zero emissions. This goal will only be achieved if we can adopt a system-wide approach, and through the commitment of both the public and private sectors to prioritize long-term vision of short-term expedience,” said Dominic Waughray, Managing Director, Head of the Centre for Global Public Goods, World Economic Forum.

The ambition of the Getting to Zero Coalition is closely aligned with the UN International Maritime Organization’s strategy on the reduction of greenhouse gases. The strategy prescribes that international shipping must reduce its total annual greenhouse gas emissions by at least 50% of 2008 levels by 2050, while pursuing efforts to phasing them out as soon as possible this century. This will align greenhouse gas emissions from international shipping with the Paris Agreement targets.

“A healthy ocean is key to achieving the UN 2030 Sustainable Development Agenda, and the Getting to Zero Coalition is an important move in the right direction. Business as usual will not get us where we need to be to achieve sustainability – so it is very encouraging to see hard-to-abate sectors like global seaborne trade boldly stepping up to chart this new course. Let us all support the continued development of cleaner technologies and new fuel solutions,” said Peter Thomson, the UN Secretary-General’s Special Envoy for the Ocean and Co-Chair, Friends of Ocean Action.

Industry partners of the Getting to Zero Coalition range from Mærsk and Shell to Citigroup and Cargill, while knowledge partners include Environmental Defense Fund, University College London and the Energy Transitions Commission.

“Energy efficiency has been an important tool which has helped us reduce CO? emissions per container by 41% over the last decade and position ourselves as a leader 10% ahead of the industry average. However, efficiency measures can only keep shipping emissions stable, not eliminate them. To take the next big step change towards decarbonization of shipping, a shift in propulsion technologies or a shift to clean fuels is required which implies close collaboration from all parties. The coalition launched today is a crucial vehicle to make this collaboration happen,” said Søren Skou, Chief Executive Officer, A.P. Møller-Mærsk.

Getting to Zero Coalition members
Cargill, Lloyd’s Register, Trafigura, American Bureau of Shipping (ABS), Anglo-Eastern, Berge Bulk, Caravel Group, Danske Bank, Gard, Forward Ships, KC Maritime, Kuehne + Nagel, MAN Energy Solutions, Marine Capital, MISC, Port of Aarhus, RightShip, Siemens Gamesa, Skuld, Snam, The China Navigation Company, Torvald Klaveness, Tufton Oceanic, Unilever, Vestas, World Fuel Services, Wärtsilä Corporation, ZIM Integrated Shipping Services

Knowledge partners
Environmental Defense Fund
Energy Transitions Commission
University College London (UCL) and University Maritime Advisory Services (UMAS)
Sustainable Shipping Initiative (SSI)

Supported by
International Renewable Energy Agency (IRENA)
Global Infrastructure Facility (GIF)
United Nations Conference on Trade and Development (UNCTAD)
North American Marine Environment Protection Association (NAMEPA)

Getting to Zero Coalition partners
Global Maritime Forum
Friends of Ocean Action
World Economic Forum

Photo credit: World Economic Forum
Published: 24 September, 2019

 

Our Industry Partners

RSS Fields