Country for PR: United Kingdom
Contributor: PR Newswire Europe
Thursday, November 17 2022 - 19:30
Progress Report shows that Maritime Green Corridors are taking off – but essential stakeholders must not be left behind
COPENHAGEN, Nov. 17, 2022 /PRNewswire-AsiaNet/ --

A new report from the Global Maritime Forum [ ], prepared on behalf of the Getting to 
Zero Coalition, assesses progress towards the development of Green Shipping 
Corridors - maritime routes between major port hubs where zero-emission 
solutions are supported and demonstrated – and finds that activity during 2022 
exceeded expectations. However as maritime Green Shipping Corridors progress 
towards implementation, some key industry stakeholders, especially cargo owners 
and fuel producers, will need to be engaged as soon as possible. From the 
public sector, policy support from national governments will need to embrace 
the challenge of closing the fuel cost gap between zero-emission and fossil 

The 2022 Annual Progress Report on Green Shipping Corridors is launched in 
association with the first anniversary of the Clydebank Declaration, which has 
seen 24 countries express support for the creation of Green Shipping Corridors 
as a way to demonstrate and deploy the zero-emission solutions necessary for 
shipping's transition to zero greenhouse gas emissions.

While most maritime Green Corridor initiatives remain in their infancy, the 
report looks at their potential, assesses progress, identifies challenges, and 
offers recommendations, in particular by advancing the commercial-scale 
deployment of zero-emission fuels, vessels and infrastructure on promising 
routes. Previous analysis has indicated that for shipping's transition to get 
on track, 5% of fuels used on deep sea routes would need to be scalable, 
zero-emission fuels such as clean ammonia, methanol, or hydrogen.

- Overall, the report documents a level of Green Corridor activity in 2022 that 
has exceeded expectations, with more than 20 initiatives and 110 stakeholders 
from all main shipping segments involved, active engagement from the government 
signatories of the Clydebank Declaration, and coverage of some of the most 
important deep-sea routes. 
- Most of these initiatives remain at a very early stage of development, with 
only a handful reaching the feasibility and planning stages so far.
- So far, maritime Green Corridors are too shipping-centric, more needs to be 
done to involve cargo owners and producers of future fuels if important 
obstacles are to be overcome.
- While governments have shown a promising amount of initiative in developing 
supportive policies, they will need to consider how to use national policy 
levers to close the fuel cost gap between zero-emission and fossil fuels.

The Global Maritime Forum's Project Director for Decarbonization, Jesse 
Fahnestock, noted that the report, like the activity it covered, was about 
creating a baseline for future action.

"Green Corridors have captured the maritime sector's imagination, and the 
number of initiatives that have been launched in one year is genuinely 
exciting," Fahnestock said. "These corridors are all at very early stages, but 
as they move towards implementation, this report can provide a platform for 
monitoring and sharing global progress. Already, the report has identified some 
key recommendations for accelerating action and improving impact."

Please find the report here [ 

About the Getting to Zero Coalition 
The Getting to Zero (GtZ) Coalition, a partnership between the Global Maritime 
Forum and World Economic Forum, is a community of ambitious stakeholders from 
across the maritime, energy, infrastructure, and financial sectors, supported 
by key governments, IGOs and other stakeholders, who are committed to the 
decarbonization of shipping.

The ambition of the Getting to Zero Coalition is to have commercially viable 
zero-emission vessels operating along deep-sea trade routes by 2030, supported 
by the necessary infrastructure for scalable zero-carbon energy sources 
including production, distribution, storage, and bunkering, towards full 
decarbonization by 2050.

About the Global Maritime Forum 
The Global Maritime Forum (GMF) is an international not-for-profit organization 
dedicated to shaping the future of global seaborne trade to increase 
sustainable long-term economic development and human wellbeing.

Source: Global Maritime Forum