Major retailers, Amazon, Ikea and Inditex are among the first to sign up to a first-of-its-kind target to progressively switch all of their ocean freight to vessels powered by zero-carbon fuels by 2040.
Through a new collaborative, cargo owner-led network facilitated by the Aspen Institute, the move is designed to send an “important demand signal” to the maritime value chain and bunker fuel producers that freight customers want zero-carbon shipping and they “expect the industry to rapidly accelerate its decarbonization efforts in the years ahead”.
The Aspen Institute said that maritime shipping powered by heavy fuel oil produces one billion tonnes of climate pollution each year — as much as a G7 country or all of America’s coal-fired power plants combined. Maritime shipping also currently accounts for 3% of all global emissions, and could rise to 10% by 2050.
Other signatories to the network include Brooks Running, Frog Bikes, Michelin, Patagonia, Tchibo, and Unilever.
Dan Porterfield, president and CEO of Aspen Institute, said: “Maritime shipping, like all sectors of the global economy, needs to decarbonize rapidly if we are to solve the climate crisis, and multinational companies will be key actors in catalyzing a clean energy transition in shipping.
“We applaud the coZEV 2040 ambition statement signatories for their leadership, and we urge other cargo owners, value chain actors, and governments to join forces with us.”