Shipping is the backbone of the global economy, carrying more than 80% of traded goods. But it also accounts for almost 3% of man-made carbon dioxide emissions. If the world’s ships are going to decarbonize at the speed required by the Paris Agreement on climate change, the shift to clean fuels needs to be well underway by 2030.
Today’s merchant fleet is largely powered by marine fuels made from crude oil. Shipping fuels of the future must produce lower or zero emissions, but they also need to be storable, transportable and affordable and have enough power to propel gigantic vessels around the globe. Here are the main candidates:
