Representatives of the maritime sector have officially launched an initiative to advance the supply of green fuels.
The International Chamber of Shipping (ICS) and International Association of Ports and Harbors (IAPH), along with the CEO-led Clean Energy Maritime Taskforce, unveiled the ‘Clean Energy Marine Hubs Initiative’ at the Clean Energy Ministerial (CEM) meeting in Pittsburgh.
The initiative will be a convening platform for public and private senior-level stakeholders from the ports, shipping, finance, and energy sectors. ICS and IAPH will kickstart activity with governments represented at the CEM, to advance the production, export and import of low-carbon fuels.
The governments of Canada and the United Arab Emirates (UAE) confirmed during the CEM meeting in Pittsburgh that they will be among the first countries to back this key initiative, to help accelerate the worlds transition to green fuels and technologies. Representatives of the maritime sector anticipate Canada and the UAE will lead the way for others to follow.
The initial concept for creating green marine hubs was announced earlier this year as a forum to enable policy makers and industry stakeholders to quickly unlock clean energy deployment. This announcement represents the next step in the development of an initiative that will help unlock the potential for global adoption of zero emission fuels.
CEM is a meeting of 29 energy ministers from leading governments, as part of the US Department of Energy’s Global Clean Energy Action Forum (GCEAF). The Forum brings together advocates from the energy community to share ideas on how to deliver a successful global green transition.
The broader goals of the initiative were also discussed at a plenary session organized by ICS. Key objectives include facilitating information and knowledge exchange on policies, programs, and decarbonization projects to de-risk investment and accelerate the commercial deployment of alternative fuels and technologies across countries.
Recent research from the International Renewable Energy Agency has emphasized the importance of shipping’s role in the global green transition. By 2050, the shipping industry is expected to transport at least 50 percent of all traded zero-carbon fuels.
The Clean Energy Marine Hubs Initiative is backed by more than 150 CEOs and government representatives, who voted to take forward plans for its creation at an ICS summit in June this year.