20/20- The Decade of Decarbonization

Our planet is clearly feeling the impacts of human activity. Efforts to mitigate these impacts include the Sustainable Development Goals (SDGs) set out by the United Nations, and the reduction of greenhouse gasses goals set by the IMO—40% reduction by 2030 and 50% by 2050. Some are setting even loftier goals of zero carbon emissions.

As I have noted before, currently there is no “silver bullet” for decarbonization- but there are many tools such as wind assist, the use of fuels such as ammonia, nuclear, and the many uses of hydrogen that are in the early stages of testing. But do we need to wait while technology is in development?

Some companies say “no”. This week, the Alexander Saverys- led CMB (Compagnie Maritime Belge) announced they will be using carbon offsets in developing countries to neutralize its carbon impact in 2020, while also investing in technology for low and zero carbon emissions engines and ships. It is to be hoped that this example will be followed by other companies as industry seeks out solutions for carbon emissions.

One of the hallmarks of our industry is resilience. I have confidence we will be successful!