Big Companies Pledge for a Green Global Trade

Big companies are joining forces to do their part in reducing greenhouse emissions by pledging to only use zero-carbon fuel cargo ships by 2040 and urge governments to adopt laws and measures to develop hastily efficient fuels and technology.

“By setting this target and signaling our dedication to decarbonize this part of our supply chains, we hope to inspire a surge in investment by ocean freight carriers and producers of zero-carbon shipping fuels,” say the signatories among which are Amazon, Ikea, Unilever, and Michelin. “Facing a climate crisis, our interconnected global economy and the maritime industry that facilitates global trade must decarbonize rapidly.”

The nonprofit Aspen Institute organized the initiative for the business community to decarbonize ocean shipping, but efforts must also be made on the political front, like setting ambitious marine fuel goals, and implementing regulations and market-based measures since it is urgent for zero-carbon shipping fuels to “become competitive with fossil fuels as soon as possible.”