IEA report shows maritime shipping is expected to fall short of net zero emissions target
The International Energy Agency (IEA) has warned that the maritime shipping industry will fall short of achieving net zero greenhouse gas emissions (NZE) by 2050.
In a report, the IEA stated that the shipping industry is expected to miss its net zero carbon dioxide (CO2) target “due to a lack of available low-carbon options on the market and the long lifetime of vessels (typically 25 to 35 years)”.
Policymakers and industry stakeholders have made a growing stream of pledges and commitments to achieve zero emissions by 2050 in the global shipping industry.
The IEA now expects emissions from the maritime shipping industry, which was responsible for about 880 million tonnes of CO2 emissions in 2019 and 830 million tonnes in the following year, to decline by six percent annually to 120 million tonnes of CO2 in 2050.
About 90 percent of world trade is transported by sea, and the UN shipping agency – the International Maritime Organisation (IMO) – aims to reduce overall greenhouse gas emissions by 50 percent from 2008 levels by 2050.
According to the IEA, operational efficiencies such as reduced voyage speeds and wind assistance will help achieve considerable emission reductions in shipping. In the medium-term, low-carbon fuels such as biofuels, hydrogen and ammonia will play a significant role.
For more information visit www.iea.org
24th May 2021
