PANAMA, Uruguay and Norway have signed up to the Clean Energy Marine Hubs initiative, a cross-sectoral push to increase the supply of green fuels for the maritime sector.

The announcement, made as the COP27 global climate talks got underway in Egypt, adds some much-needed governmental backing to the scheme, which was initially launched in September with only Canada and the United Arab Emirates involved.

The clean energy hubs scheme, which is being coordinated with the backing of the International Chamber of Shipping and the International Association of Ports and Harbours, aims to catalyse investments in the marine infrastructure needed to transport zero- and low-emission fuels from producer to consumer.

While the scheme has so far maintained a low profile amid a recent flurry of industry-backed decarbonisation initiatives, the clean energy hubs plan has received substantive political backing and is being pitched as a significant shift in approach that can deliver tangible results.

Supporters believe that the initiative has the potential to de-risk investment and accelerate the commercial deployment and transport of alternative fuels, which are currently two to three times more expensive than fossil fuels. 

The announcement came as part of the Green Shipping Challenge launch event at the world leaders’ summit of COP27.

Led by the US and Norway, it aims to bring together governments, ports, maritime carriers, shipowners and cargo owners to find decarbonisation solutions for the industry.

“A year on from COP26, a great deal is still being talked about the production of hydrogen and other low-carbon fuels, but very little on how this will actually be done,” said ICS chairman Emanuele Grimaldi, speaking from the sidelines of COP27 in Sharm El-Sheikh. “That’s why this initiative is so crucial, because it brings together the whole energy value chain to ensure that producing, transporting, and using net zero-emission fuels becomes a reality.”

Several other countries are understood to be in various stages of negotiation to join the clean energy hub scheme.

The clean energy hubs are just of several major shipping initiatives expected to be launched during COP27, which concludes on November 18.

The next major announcement is expected to be the US is launching its Green Shipping Challenge — a series of announcements of concrete steps to help put shipping on a pathway to align with the 1.5°C temperature-warming goal.

These will concern issues such as zero-emission vessels, zero-emission fuels, and green shipping corridors, among many others.

https://lloydslist.maritimeintelligence.informa.com/LL1142857/COP27-kicks-off-with-government-backing-for-clean-energy-marine-hubs