Decarbonising the shipping industry will cost more than $1 trillion

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A new report estimates that powering shipping vessels entirely with zero-emission fuels by 2050 would require between $1 trillion and $1.4 trillion of investment

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, roughly equivalent to the total annual emissions from Japan. Most of the industry’s emissions come from fossil fuels burned to propel the more than 100,000 large ships on the ocean, and total emissions could more than double by 2050 without efforts to decarbonise. “Even though 5 per cent sounds small, it implies that all of the necessary conditions start being in place” for rapidly increasing use of zero-emission fuel from that point on, says Baresic. Almost no zero-emission fuel is currently used for shipping, he says.

at Trafigura, a global commodities trading company headquartered in Singapore. “I think you have to appreciate how fast things are happening.”

 

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And it does not cover...the fuel itself. Certainl, miraculous abundant, decarbonised, safe and infinite fuels will come by then, and for free. Be responsible .

so ... around what the afghanistan war has cost us?

Here's an idea, let's power shipping vessels with Gen IV nuclear reactors. Zero emissions.

Maybe just ship less stuff

That’s a good deal to change the entire global shipping fleet. Let’s do it!

Most of the things that need to happen are not happening. The report mostly looks like this…

So? They have the money, they just don’t want to spend it.

So every country with shipping vessels equally (percentage) cuts down on their military spending & pitches in.

How much profit does the shipping industty generate, multiplied by 28 years from here to 2050... sounds cheap.

That’s it?

Just print it guys, we’ve been through this.

Small price to pay to decarbonise the global shipping industry tbph.

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