Recommendations to Accelerate the Production of Green Fuels
Danish shipping companies are keen to invest in new vessels and green fuels but anticipate that they will mostly operate on green fuels only after 2035. This goal was highlighted in a recent survey conducted by Danish Shipping, which revealed the industry’s challenges. The primary obstacle is the lack of sufficient green fuel availability.
Significant investments are required across the entire value chain, from renewable energy and green fuel production to shipping companies that are currently unable to access the necessary green fuels for their vessels. To address this issue, international climate regulations for shipping are essential. These regulations would offer stronger incentives for green operations throughout the industry.
Recently, Danish Shipping brought together the Minister for Industry, Business and Financial Affairs along with key stakeholders to discuss this urgent situation. They urged all parties involved, especially the Danish government, to prioritize green fuel production at the European level and to bring this matter to the EU negotiating table. Anne H. Steffensen, CEO of Danish Shipping, emphasized the urgency of the situation, stating, “We face a critical challenge in achieving our ambition of climate-neutral shipping by 2050.
The need for accessible and affordable alternatives to fossil fuels is pressing. We need larger volumes of green fuels. All stakeholders recognize the seriousness of the situation and are prepared to take action.”
Danish Shipping has proposed “10 Recommendations to Accelerate the Production of Green Fuels for the Shipping Industry,” advocating for diplomatic efforts for global regulations, financial support schemes for the shipping sector’s transition, strategic partnerships in green fuel production, and significant expansion of renewable energy.
The shipping sector accounts for three percent of global CO₂ emissions, and failure to enhance green fuel production jeopardizes the industry’s transition and compliance with existing regulations. Therefore, achieving these goals necessitates considerable investments and collaboration between industries and authorities at national and European levels.