Achieving Net Zero: Insights from the “Shaping the Future of Shipping” Summit

More than 60 organizations from across the energy-maritime value chain have come together to discuss tangible solutions for achieving net zero targets in the shipping industry by 2050.

The “Shaping the Future of Shipping: Delivering a Net Zero World” summit aimed to deliver a robust regulatory outcome at the IMO negotiations in March 2024, known as MEPC81, and focused on advancing infrastructure, fuel availability, and financing.

Key speakers emphasized the importance of collaboration, determination, and commitment to successfully decarbonize the industry and play a defining role in accelerating the global economy towards net zero. The summit was part of the COP28 presidency program and organized by the International Chamber of Shipping (ICS) in partnership with the Emirates Shipping Association.

“Decarbonisation is bigger than any one industry or government but what is clear is that to be successful in meeting our climate targets the world will need shipping,” said Emanuele Grimaldi, Chairman of the International Chamber of Shipping, in opening the summit. “We know that there are always announcements and noise here at COP meetings, but beyond the razmataz there are detailed negotiations and talks. This is what today was about.”

Arsenio Dominguez, International Maritime Organization Secretary General Elect, emphasizes the need to take action to make the IMO Strategy a reality. “We are already carrying out the impact assessment on the fleet and on States in order to provide the necessary information for the marine environment protection committee meetings that will take place next year and that will lead us to those measures that will be adopted by 2025, implemented in 2027 and that will make these objectives of the strategy a reality, both technical and economic measures,” said Dominguez.

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