The UK Government’s Environment Audit Committee (EAC) has unveiled plans to examine how the shipping sector can best achieve net zero carbon emissions.
In a statement the EAC said it will consider a number of areas which could play a significant role in cutting emissions, including the commercialisation of new technologies and low, transitioning to zero, carbon fuels.
It will also look at options that may encourage international action to lower global emissions in shipping; the project will also look at the aviation sector.
In its recently published Transport Decarbonisation Plan and Jet Zero consultation, the UK Government outlined plans to get shipping carbon emissions down to net zero “as soon as possible”.
Additionally, it wants the domestic aviation industry to reach net zero emissions by 2040.
Meanwhile, the European Commission has also recently unveiled its ‘Fit for 55’ plan which will tax aviation and maritime fuels for the first time while setting targets on shipping emissions and sustainable aviation fuels.
This is in addition to the expanded Emissions Trading Scheme covering shipping within the EU from 2023.
Shipping and aviation together make up 10% of UK greenhouse gas emissions and decarbonising these sectors will play a key role in achieving net zero emissions by 2050.
Aviation is set to be the largest emitting sector by 2050 on current trends, while the International Maritime Organization (IMO) warns that carbon emissions from shipping – responsible for transporting 80% of the world’s trade – are projected to increase by up to 50% above 2018 levels by 2050 if no action is taken.