International shipping emits around 940 million tonnes CO₂ each year – more than the whole of Germany – and is responsible for 2.5% of all greenhouse gas emissions globally. The maritime sector is not immune to the pressures faced by industries across the globe to lower their emissions and make the planet net zero by 2050.
The time for change is here. Vessels have long lifetimes and if action isn’t taken now the sector will potentially be locking in future emissions for many years.
In this white paper, we examine some of the uncertainties and barriers - from technology and fuel, to interconnections and economics - and show how Ricardo can help steer the sector into calmer waters.