Maritime sector officials have officially launched an initiative to accelerate the deployment of green fuels to support the global energy transition.
The ‘Clean Energy Marine Hubs Initiative’ was presented today at the CEM (Clean Energy Ministerial) in Pittsburg. It is a joint pursuit by the ICS (International Chamber of Shipping), IAPH (International Association of Ports and Harbors) and Clean Energy Maritime Taskforce.
This initiative will be a gathering platform for high-level public and private stakeholders from the ports, shipping, finance and energy sectors across the energy maritime value chain. ICS and IAPH will intensify their work with governments represented by CEM with the aim of promoting low carbon fuel production, imports and exports.
The governments of Canada and the United Arab Emirates (UAE) are among the first countries to endorse this important initiative to accelerate the global transition to clean fuels and technologies at the CEM conference in Pittsburgh. Confirmed to be one.
The original concept of creating a Green Ocean Hub was announced earlier this year as a forum to enable policymakers and industry stakeholders to rapidly unlock clean energy deployments. The announcement represents the next step in the development of an initiative to unlock the potential for global adoption of zero-emission fuels.
CEM is part of the US Department of Energy’s Global Clean Energy Action Forum (GCEAF) and brings together 29 energy ministers from major governments. This forum brings together energy industry advocates to share ideas on how to successfully transition to a global environment.
Maritime sector representatives hope the participation of Canada and the United Arab Emirates will pave the way for other countries to follow. The broader goals of this initiative were also discussed at the ICS-sponsored plenary. Key objectives include facilitating information and knowledge sharing on policies, programs and decarbonization projects to reduce investment risks and accelerate commercial deployment of alternative fuels and technologies in countries.
A recent study by the International Renewable Energy Agency highlights the importance of shipping in the global environmental transition. By 2050, ships must carry at least 50% of all carbon-free fuels traded.
The Clean Energy Marine Hub Initiative is backed by over 150 CEOs and government officials who voted to move forward with plans to create it at the ICS Summit earlier this year.
