Nine major shippers including Amazon, Ikea and Unilever have signed an “ambition statement” to pledge to only move cargo on ships using zero-carbon fuel by 2040.  This pledge is part of a new initiative by the non-profit Aspen Insititute called Cargo Owners for Zero-Emission Vessels or coZEV. 

From the coZEV website: coZEV was created because no single cargo owner can drive this transition alone. coZEV utilizes the power of companies’ combined voices, capacity for innovation, and economies of scale to drive change.

Through collaboration among cargo owner companies and maritime supply chain partners, coZEV believes companies can decarbonize their own maritime freight by 2040 and help catalyze full sector decarbonization by 2050 at the latest.

So far, the target set by coZEV is among the world’s most ambitious. 

The International Maritime Organization (IMO) currently aims to reduce overall greenhouse gas emissions from ships by 50% from 2008 levels by 2050, but is under pressure to speed up action.

Major container operators, including the three largest, Maersk, MSC, CMA CGM; and have pledged to reach net-zero emissions by 2050.

The US, the UK, and Canada as well as the EU nations have pledged to reach net carbon neutrality by 2050.

While the statement calls for “zero-carbon fuels” they later go on to define the term: “By zero-carbon fuels, we mean fuels that have zero greenhouse gas emissions on a lifecycle basis…” This appears to include “net zero-carbon fuels,” such as green methanol or bio-diesel that offsets emissions of carbon by previous carbon capture.

 Last month, A.P. Moller-Maersk ordered 8 large ocean-going container vessels capable of being operated on carbon-neutral methanol. In February, A.P. Moller-Maersk announced that it would launch the world’s first carbon-neutral cargo liner vessel in 2023, a 2,000 TEU feeder vessel fueled by methanol.

Ocean shipping represents roughly 90% of world trade and approximately 3% of total greenhouse gas emissions. In comparison, passenger cars and trucks represent between 15-20% of global emissions.