GMF Report shows progress towards 2030 targets

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The ”Climate Action in Shipping – Progress towards Shipping’s 2030 Breakthrough” report was launched on 21 September during New York Climate Week, prior to the Global Maritime Forum (GMF) Annual Summit, and in parallel with the Clean Energy Ministerial Global Clean Energy Forum. This report assesses progress to a goal of having scalable zero-emission fuels (SZEF) make up 5% of international shipping fuels by 2030. According to the report, currently there are at least 203 shipping decarbonization pilot and demonstration projects in the pipeline, indicating significant progress, especially in terms of commitments by industry, national governments, and positive developments at the IMO. Current estimates in line with IMO Initial Strategy ambitions put the total additional capital needed for shipping’s decarbonization at US$ 1-1.4 trillion, with over 80% of this figure upstream.

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