Carbon capture has a vital role to play in decarbonising the shipping industry.
The IMO has agreed a net zero goal for the shipping industry by 2050, with important and challenging checkpoints in 2030 and 2040. But with a 3% share of global CO2 emissions and ships that are launched today being in service for 25 years plus, it just isn’t enough for the industry to focus solely on future fuels and new vessels as pathways to CO2 reduction. Quite simply, on their own these will deliver neither the intermediate nor the final goals.
The retrofitting of carbon capture technologies to existing vessels needs to be urgently pursued to show the seriousness of the industry’s intent today, but is the industry doing enough to realise its potential? There are encouraging signs that a number of key stakeholders are recognising the pressing need for carbon capture across fleets, but there remains much to do to establish a realistic pathway to net zero for shipping by 2050.
