Crucial climate negotiations are set to take place in London, where representatives from 176 countries are tasked with reaching an agreement on climate regulations for international shipping. Danish Shipping advocates for an ambitious framework that enhances the appeal of alternative green fuels while imposing necessary requirements. In 2023, the International Maritime Organization (IMO) made a significant commitment to achieve climate neutrality in global shipping by approximately 2050. Following this landmark decision, discussions have been ongoing to draft regulations that will facilitate this green transition.
Now, the imperative for action intensifies as critical negotiations begin this week. A fundamental aspect of the agreement revolves around making green fuels more economically viable compared to traditional fossil fuels. Anne H. Steffensen, CEO of Danish Shipping, emphasizes the need for a regulatory model that effectively reduces emissions and narrows the cost gap between green and fossil fuels. This approach would also signal to investors and producers the necessity to scale up green fuel production.
However, the negotiations are expected to be challenging, with countries presenting varied starting points and interests. Compromise will be essential to develop an agreement that is acceptable to all while achieving the goal of climate-neutral shipping by 2050. Shipping currently contributes approximately three percent of global CO₂ emissions, underscoring the sector’s significant responsibility in addressing climate change. Particularly affected by climate change are Small Island Developing States, which face threats from extreme weather and rising sea levels.
Steffensen highlights Denmark’s leadership role in facilitating the green transition, both at the IMO and within its shipping industry, which is investing heavily in vessels powered by green fuels. She advocates for an agreement that discourages reliance on fossil fuels, ensuring that environmental responsibility comes with economic incentives for green shipping practices. The Danish delegation, spearheaded by the Danish Maritime Authority, is actively participating in this week’s negotiations as advisors for Danish Shipping.