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Shipping must align with the Paris Agreement temperature goal and be run entirely on net-zero energy sources by 2050. Over 200 signatories to the industry-led Call to Action to decarbonize shipping firmly believe that urgent and equitable decarbonization of the maritime supply chain by 2050 is possible and necessary.
The private sector is leading the way and taking concrete actions to make zero-emission vessels and fuels the default choice by 2030. Decisive government action and enabling policy frameworks are needed to reach our 2030 and 2050 ambitions.
As the shipping industry navigates the transition from fossil fuels to zero-emission fuels, they are exposed to risks and uncertainties. The Getting to Zero Coalition has identified three key factors to making better-informed investment decisions: tracking the hydrogen economy; incorporating the total cost of operation; and investing in optionality and flexibility.