Frequently asked questions about decarbonisation
The Lloyd’s Register Maritime Decarbonisation Hub will provide the leadership, collaboration and evidence needed to shape safe and sustainable pathways to the decarbonisation of the shipping industry.
Decarbonisation as a general term refers to the reduction and control of manmade greenhouse gas (GHG) emissions. GHG emissions from shipping are a consequence of the carbon intensity of shipping’s energy supply, the energy efficiency of shipping, and the demand for shipping.
Shipping, as an industry, is currently dependent on fossil-based fuels for propulsion, therefore decarbonisation is a transformation away from fossil-based fuels to zero-carbon energy sources. This requires the development of a fleet of ships that derive their energy consumption from zero-carbon energy sources, and the development of supply chains that can deliver those zero-carbon energy sources at sufficient volume and in sufficient locations.
The shipping industry needs leadership, collaboration and evidence-based direction to achieve its decarbonisation goals. The Maritime Decarbonisation Hub will create and share evidence, insight and knowledge about the transition to a decarbonised world fleet.
The Hub will work in partnership with other forward-looking organisations to deliver credible thought leadership to the entire industry - regulators, policy makers, investors, owners, operators and charterers and customers. It will demonstrate the costs, benefits, opportunities and risks of potential pathways to decarbonise.
We will lead the industry by:
- Identifying the pathways to a decarbonised sector
- Shifting the narrative by creating independent thought leadership and collaborating in key industry forums
- Influencing policy and guiding regulation with advice on the efficacy of potential measures, and the practicality of their implementation
- Reaching across the supply chain to provide end-to-end assurance for zero-carbon fuels, at scale, in the right locations and delivered safely
We will create practical solutions, such as:
- Building pilots and prototypes to establish practical knowledge based on the real-world application of technology and the mitigation of risk
- Creating new tools to help all stakeholders understand the future implications of today’s business decisions
- Applying our knowledge to ships in service and supporting a growing range of shipping organisations
The Hub will not take a ‘one size fits all’ approach to zero-carbon energy sources. Instead, it will provide the evidence needed by the relevant decision-makers in the shipping industry to transition with regulatory, economic and societal considerations.
Yes. As one of the world’s leading shipping classification societies, Lloyd’s Register prides itself on giving expert, independent opinion, free from outside influence. Our existing body of research into decarbonisation demonstrates that autonomy, which will continue in the work of the Lloyd’s Register Maritime Decarbonisation Hub.
The Hub will be overseen by a Stakeholder Panel of representatives from the shipping industry, who will shape the strategy of the Hub, with a Governance Board of representatives from Lloyd’s Register and Lloyd’s Register Foundation. The Hub’s governance system will produce regular reports about its work and outcomes, to maintain transparency and independence.
As one of the world’s leading classification societies, Lloyd’s Register prides itself on providing expert, independent opinion, free from outside influence. Our existing body of evidence-based research into decarbonisation demonstrates that autonomy, which will continue in the work of the Lloyd’s Register Maritime Decarbonisation Hub.
The Hub is a ring-fenced and recognisable team within the Lloyd’s Register Marine & Offshore business stream, reporting into a Programme Manager who is accountable for ensuring that plans and activities are managed and reported to the Hub’s Governance Board.
That Governance Board will consist of subject matter experts from Lloyd’s Register Group, Lloyd’s Register Foundation and strategic industry partners. The Hub will produce regular reports about its work, in order to maintain transparency and independence.