Shipping

Decarbonising maritime transport for a sustainable future

Maritime transport is vital to the global economy, facilitating 80% of global trade, but it contributes approximately 2% of global greenhouse gas (GHG) emissions. Without action, shipping emissions could increase by 50–250% by 2050, making decarbonisation critical to achieving the Paris Agreement’s 1.5°C target. 
 

Challenges in decarbonising shipping

The shipping sector faces several challenges on the path to decarbonisation: 

• High emissions: CO2 accounts for 98% of shipping emissions, with methane (CH4) emissions rising due to increased use of liquified gas and methane slip during transport.
• Hard-to-Abate Sector: Electric technologies are currently feasible only for small vessels, leaving large-scale shipping reliant on alternative solutions.
• Fuel competitiveness: A zero-emissions fleet requires the development of cost-competitive energy sources to replace traditional fuels.   
   

Path to decarbonisation

The shipping sector must achieve zero emissions by 2050, with zero-emission ships dominating the market by 2030.  
 
Key strategies include: 

• Improving shipping efficiency.
• Reducing the GHG intensity of fuels used by ships. 
   

Purpose of the Shipping Criteria 

The Shipping Criteria provide science-based standards to guide investments and financial decisions that accelerate the transition to zero-emissions shipping. Developed in alignment with the International Maritime Organisation’s (IMO) objectives, these Criteria aim to close the competitiveness gap for zero-emission technologies. 

Key features of the Shipping Criteria: 

1. Assessment of energy efficiency: 
   Real-world performance is evaluated using metrics like Annual Efficiency Ratio (AER) and Energy Efficiency Operational Indicator (EEOI). 
    
2. Support for decarbonisation: 
   Financial instruments linked to the Criteria encourage investments in energy-efficient technologies and alternative fuels. 
    
3. Alignment with climate goals: 
   The Criteria ensure alignment with the 1.5°C target, accelerating the transition to a zero-emissions shipping sector. 
    

Driving a greener shipping industry 

By promoting sustainable financial instruments, the Shipping Criteria support the decarbonisation of maritime transport, enabling a swift and effective transition toward a greener shipping industry.