The climate change goal of having zero-emission fuels cover 5% of fuel used in international shipping by 2030 is “partially on track”, says a recent study. The study, presented at the Global Maritime Forum in New York, highlighted that more improvements could be made in several areas for this goal to be reached. In an article about the study, Lloyd’s List wrote that technology, infrastructure funding and sustainable policies are among the elements that need to be improved. An earlier analysis by the London-based University Maritime Advisory Services (UMAS) said that a budget of $1.2trn is needed to keep global warming at a maximum of 1.5 degrees Celsius. More than 80% of this budget should focus on the production and supply of fuels. “To meet the 5% target, some 29.8m tonnes of green hydrogen-derived ammonia, or 28.1m tonnes of methanol, would need to be produced annually to meet the 2030 target,” UMAS mentioned in a recent joint report with the UN Climate Change High-Level Champions. An annual investment of $40bn is needed by 2030 to develop Scalable Zero Emission Fuels (SZEF), added the report. However, a bigger figure is needed for large-scale changes as this requires larger infrastructure requirements. Nevertheless, UMAS acknowledged the efforts made so far in the industry. “Overall, there has been significant progress in commitments which are starting to be converted into action through the creation of standards, improvements in transparency and cross value chain collaborations coming together to test and pilot demonstrations,” said the report. The report presented at the Global Maritime Forum “provides evidence for the significant progress which has been made to decarbonize shipping, yet at the same time shows that further significant action is required,” said UMAS Consultant Domagoj Baresic. Sources: Global Maritime Forum, Lloyd’s List, Seatrade Maritime News