Ten More Leading Shippers Join Initiative for Maritime Decarbonization
Global shippers are continuing in their efforts to align to contribute to the drive for the decarbonization of the maritime industry. Ten leading companies and large global shippers, including DuPont, Electrolux, Philips, and Target, are joining the Cargo Owners for Zero Emission Vessels (coZEV) initiative doubling the number of shippers participating in the platform dedicated to accelerating the transition to zero-carbon maritime shipping.
CoZev was launched in October 2021 by the non-profit Aspen Institute to provide a platform for multinational companies to come together for high-impact initiatives designed to accelerate the transition to zero-carbon maritime shipping. The participants join the organization’s 2040 Ambition Statement, a first-of-its-kind call to action from cargo owners committing to progressively switch all of their ocean freight to vessels powered by zero-carbon fuels by 2040. It also provides a forum for the companies to explore efforts while coZEV also organized signatories IKEA, Unilever, and Tchibo to call on policymakers in the European Union to discuss the FuelEU Maritime Proposal. CoZEV has also begun to demonstrate the business case for investment in scalable zero-emission fuels and technologies capable of achieving full maritime industry decarbonization on a Paris-aligned trajectory.
“In less than a year, coZEV has changed the narrative surrounding decarbonization in maritime shipping,” said Dan Porterfield, President and CEO of the Aspen Institute. “Through coZEV, cargo owners are kickstarting a clean energy transition in this critical industry, and the Aspen Institute is proud to support them and help enable their success.”
Organizers of the initiative point to the progress being announced by the maritime industry. Among the developments they are highlighting are the increasing orders for dual-fuel containerships capable of operating on future alternative fuels. They are also acknowledging the numerous zero-emission fuel production plans by fuel producers and major bunkering hubs around the world as well as the efforts to launch the first green shipping corridors including the link between Shanghai and Los Angeles.
“Support for maritime decarbonization has grown swiftly in just a short time due to the bold, climate-leading companies that are making their climate ambitions as freight customers clear to maritime carriers, fuel producers, ports, and other value chain actors,” said Ingrid Irigoyen, Director of coZEV and the Aspen Shipping Decarbonization Initiative. “The global economy’s maritime decarbonization journey is still in its early stages, but such progress in less than a year confirms for us that cargo owners can drive impact quickly when they come together.”
The 10 new participants in the initiative include Beiersdorf, DuPont, Electrolux, ETTLI Kaffee, Moose Toys, Ohana Beverage Company, Philips, REI Co-op, Sisley, and Target. These multinational companies join Amazon, Brooks Running, Frog Bikes, IKEA, Inditex, Michelin, Patagonia, Tchibo, and Unilever, which were founding members in 2021 and bring to 19 the total companies participating.
“If we are to see a vast global fleet of zero-emission vessels on the water by 2040, we need accelerated investment in that transition today,” said Irigoyen. “This growing roster of coZEV 2040 signatories that represent a wide range of industries, boosts our sense of optimism that we can eliminate the climate impact of even the hardest to abate sectors.”