About Practical considerations for the decade of change
The decade ahead calls for action on decarbonisation. A target of 5% zero-emission fuels by 2030 has been proposed as the Race to Zero Breakthroughs for international shipping and work to achieve this near-term milestone is underway. Zero-emission vessels should be the default choice for ship orders by 2030 to keep the sector on track for net zero-emissions before 2050.
While some of the technologies needed to build zero-emission vessels and produce zero-emission fuels and propulsion systems exist, they need to be further developed to ensure that they are safe, clean and reliable. This will require the refinement of vessel and fuel production technologies and clarity around safety, sustainability, regulation, training, fuel and vessel life-cycle analyses, and fuel availability, thereby reducing the risks associated with investing in zero-emission vessels, infrastructure and fuel production.
With the operational life of a vessel around 25 years, shipowners need to plot what’s achievable and available with the plethora of transition pathways under evaluation and the operational and investment decisions required to future proof their tonnage. And, now that the focus has shifted from aspiration on decarbonisation to detailed next steps, parties across the supply chain must balance complex decisions with practical action as their choices will shape the speed and ease of the transition ahead. Much is already happening and much more needs to be done.
This Lloyd’s Register panel discussion, held in conjunction with the UK Maritime and Coastguard Agency, will focus on how stakeholders are addressing the complex choices ahead, assessing current levels of collaboration and the mechanisms that are being developed to evaluate potential options and outcomes.
Elina Papageorgiou, Regional Marine and Offshore Manager, UK&ILloyd's Register