Inditex and Patagonia among brands coalition to pledge zero-carbon shipping
The new Cargo Owners for Zero Emission Vessels (coZEV) coalition also includes tech giant Amazon, sports equipment company Brooks Running, UK bicycle manufacturer Frog Bikes, IKEA, tyre maker Michelin, German coffee firm Tchibo and consumer goods firm Unilever as its first signatories.
The companies' initiative is facilitated by non-governmental organisation the Aspen Institute, which expects a rapid acceleration of the shipping industry’s efforts to develop zero carbon fuels in order to push the heavily-polluting industry to decarbonise faster.
The multinational coalition said it commits to working with ocean freight carriers and third-party logistics providers that are maximising energy efficiency through operational and technical measures and have clear plans to upscale zero-carbon fuels in their operations, in its coZEV 2040 Ambition Statement.
Maritime shipping accounts for 3% of all global emissions with about 90% of world trade moving by sea. The figure could rise to 10% by 2050 if the industry continues to rely on carbon-intensive fuels, BBC reported.
The coZEV group said it wanted to see shipping fully decarbonised by 2050 at the latest, defining zero carbon as fuels that release no (or very little) greenhouse gases from a lifecycle perspective.
“Maritime shipping, like all sectors of the global economy, needs to decarbonise rapidly if we are to solve the climate crisis, and multinational companies will be key actors in catalysing a clean energy transition in shipping," said Dan Porterfield, president and CEO of the Aspen Institute.
"We applaud the COZEV 2040 signatories for their leadership, and we urge other cargo owners, value chain actors and governments to join forces with us.”