The 2022 Maritime Decarbonization Outlook
Breaking the emissions curve this decade will require collective action across the maritime industry: We must develop and deploy new technologies and fuel pathways and implement firm regulations demanding their use. For a hard-to-abate sector like shipping, this transition will take time. It is, therefore, important that we begin dedicating resources to these efforts today.This decade will be crucial.
The first chapter of the Maritime Decarbonization Strategy takes stock of how the maritime industry is progressing towards zero. Recent momentum demonstrates that the sector already has the most important component of any decarbonization strategy – a willingness to act. But current actions are not enough, and the industry must turn to take even more drastic means to bend the rising emissions curve.
Today, we are very far away from aligning with the Paris 1.5 °C trajectory. International and domestic shipping uses approximately 12.6 EJ of energy each year, corresponding to around 300 million tonnes of fossil fuels resulting in ~1.2 GtCO2eq emissions from a well-to-wake (WTW) perspective. To reduce our emissions by 45% in 2030 compared with 2010, we must limit our fossil fuel consumption to ~6 EJ of the total energy demand from the global fleet.