UCL galvanises stakeholders across maritime value chain to accelerate adoption of zero-emission fuels by 2030

Global industry leaders build on momentum from previous COPs to strengthen targets and commit to increasing the uptake of zero or near-zero GHG emission shipping fuels to at least 5%, striving for 10%, by 2030.

Baku, Azerbaijan – November 12, 2024 - More than 50 leaders across the spectrum of the shipping value chain — e-fuel producers, vessel and cargo owners, ports, and equipment manufacturers — signed a Call to Action today at COP 29 to accelerate the adoption of zero-emission fuels. Organized by RMI, the UN Climate Change High-Level Champions, the UCL Energy Institute, and the United Nations Foundation, the Call to Action demonstrates strong industry momentum to invest in decarbonization through scalable zero-emission fuel pathways.

The joint statement calls for faster and bolder action to increase zero and near-zero emissions fuel uptake, investment in zero-emissions vessels, and global development of green hydrogen infrastructure, leaving no country behind. 

The Call to Action comes as the maritime industry awaits the Marine Environment Protection Committee’s milestone convening in April 2025, where global regulatory architecture will be set for a global fuel standard and a greenhouse gas pricing mechanism to achieve the International Maritime Organization’s (IMO) Revised 2023 GHG Strategy’s ambition of achieving net-zero emissions in the maritime sector by 2050. Industry members are sending a strong signal to global regulators ahead of this convening that clearly defined regulation is needed to strengthen the business case to complement and amplify industry momentum towards decarbonization.

In anticipation of this regulatory milestone, the signatories outline several key recommendations to expedite the adoption of hydrogen-derived fuels, namely the need for clear, ambitious mid-term measures; a balanced approach to revenue distribution to help bridge the cost gap between fossil fuels and scalable zero-emission fuels (SZEFs); and evidence that key milestones for practical use of SZEFs are advancing.

To align with a 1.5°C pathway, global green hydrogen production must double by 2030, translating to the uptake of at least 5 million tonnes of green hydrogen in the shipping sector. To accomplish this, coordinated action is needed across the supply chain to expand the supply and adoption of zero or near zero-emission shipping fuels such as e-ammonia and e-methanol, build up the ecosystem synergistically, and deliver on a just and equitable transition.

Developing countries in particular have a significant opportunity to benefit from the decarbonization of the shipping sector, as they can leverage their unique advantages to attract investment, create skilled jobs, and build sustainable e-fuel supply chains.

Ports and port service companies, alongside financiers, have also added their support to the Call to Action, committing to investing in hydrogen-derived fuel infrastructure and safety projects to support bunkering of e-fuels.