Global shipping companies unite for a sustainable future

The Sustainable Shipping Initiative (SSI), a coalition of 15 global shipping companies and NGOs, announced yesterday the signing of a 30-year plan to mitigate industry emissions.

The ambitious roadmap entitled the ‘Vision for 2040’ will see some of the industry’s largest companies join forces in providing a greener future by addressing emissions, energy consumption and the impact of vessel life-cycles.

The SSI is the first of its kind to undertake the multiple challenges faced by the industry today, with signatories that include Maersk Line, Lloyds Register, Daewoo Shipbuilding and BP Shipping it is hoped that the experience across the board will help drive the industry towards a more sustainable future.

Upon signing the agreement, each of the 15 signatories will have to provide information regarding their progress and contribution to both the vision and SSI activities every six months. The progress will then be examined under the scrutiny of the SSI group.

As it stands emissions form the shipping industry account for as much as three percent of the global total, and if current emission trends continue then this figure could rise to as much as 15 percent by the year 2050.

The group acknowledge that in order to achieve the emission targets set in the 2040 vision work had to begin immediately.

“We cannot wait until 2040 to become sustainable; we need to act today,” the report says.

To achieve their vision the SSI has identified to their industry participants the areas where there is most potential to work together to accelerate change. This includes the promotion and funding of new technology, reducing the impact of vessel life-cycles and producing a standard of standards to drive improved sustainability performance.

The Vision for 2040 document comes in the same week as the long-awaited review of UK shipping emissions is due to be published by the Committee on Climate Change. The shipping industry remains divided on the best course of action on how to combat shipping emissions, with some calling for global standards and international regulations, and others arguing that any such laws will not only drive up shipping costs but damage the global economy even further.

The SSI was launched in 2010 as part of London-based think-tank the Forum for the Future, the group represents ship owners, builders and charterers, engineers and service providers, banking and insurance.

 

Image 01: Tvabutzku1234 | Wikimedia Commons

Image 02:  Martin Pettitt | Flickr