Elizabeth Piper and Jonathan Saul

GLASGOW, (Reuters) – Officials from 19 countries, including the United States and Britain, agreed Wednesday to establish zero-emission shipping routes between ports in order to accelerate the decarbonization of the maritime sector.

Nearly 3% of global CO2 emissions come from shipping, which handles 90% of all world trade.

The International Maritime Organization, a U.N. shipping agency, has stated that it aims at reducing overall greenhouse gas emissions by half compared to 2008 levels by 2050. It is inconsistent with the 2015 Paris Agreement and is being pushed to do more.

The signatory countries involved in the ‘Clydebank Declaration’, which was launched at the COP26 climate summit https://www.reuters.com/business/cop in Glasgow, agreed to support the establishment of at least six green corridors by 2025, which will require developing supplies of zero emissions fuels, the infrastructure required for decarbonisation and regulatory frameworks.

They stated, “It’s our aim to see many other corridors in operation before 2030”, as their mission statement.

Robert Courts, Britain’s maritime minister said that countries would not be capable of decarbonizing shipping routes on their own without involvement from private and non-governmental sector.

Courts stated at the launch that the UK, and many other countries, companies, and non-governmental organizations here today, believe international shipping with zero emission is possible by 2050.

U.S. Transportation Secretary Pete Buttigieg declared that the declaration is “a huge step forward for green shipping routes and collective action”.

Buttigieg stated that the United States is “pushing for the IMO’s adoption of a zero-emissions international shipping goal by 2050.”

The IMO’s Secretary General Kitack Lim said on Saturday “we must upgrade our ambition, keeping up with the latest developments in the global community”.

RELIEF IS NEEDED IN INDUSTRY

Jan Dieleman (president of ocean transportation at Cargill), one of the biggest charterers of ships in the world, stated that “the true challenge is to make any statements (at Cop26) meaningful”.

He told Reuters that “the majority of industry have accepted we must decarbonise.”

To ensure industry-wide transformation, “industry leadership must be supported by global regulations and policies. Global regulation is essential for our success.

Christian Ingerslev is the chief executive officer of Maersk Tankers. The company has more than 210 oil product tankers under its commercial management. He stated that it spent $30 million in three years to reduce their carbon emissions through digital solutions.

He stated that governments are needed to support the regulatory push and also help to create zero-emission fuels on a large scale.

This is the only way for it to work: a market-based tax on carbon.

Australia, Canada and Chile are other signatory countries.