New brands join 2040 zero-carbon shipping ambition

The statement is the first-of-its-kind call to action from cargo owners to progressively switch all of their ocean freight to vessels powered by zero-carbon fuels by 2040. It is an initiative of the Aspen Institute.

The companies join Amazon, Brooks Running, Frog Bikes, IKEA, Inditex, Michelin, Patagonia, Tchibo, and Unilever, bringing the total to 19 companies that are sending an important signal of urgency across industries to accelerate decarbonization of the maritime value chain.

After a successful launch in October 2021, coZEV has begun to demonstrate the business case for investment in scalable zero-emission fuels and technologies capable of achieving full maritime industry decarbonization on a Paris-aligned trajectory. In the months following the coZEV 2040 Ambition Statement announcement, several of the largest container carriers in the world announced plans to build and launch new transoceanic dual fuel container ships capable of using zero-emission fuels by the middle of this decade. Numerous zero-emission fuel production plans were also announced by maritime fuel producers and major bunkering hubs around the world.

Cargo owners have driven higher ambition and supported new partnerships, such as the Los Angeles – Shanghai Green Shipping Corridor Partnership and the maritime shipping commitments of the First Movers Coalition, both of which are partners of the Aspen Institute.

coZEV also organized signatories IKEA, Unilever, and Tchibo to call on policymakers in the European Union to raise the ambition of its FuelEU Maritime Proposal to accelerate maritime decarbonization and provide incentives for the deployment and rapid scaling of zero-emission e-fuels.

“If we are to see a vast global fleet of zero-emission vessels on the water by 2040, we need accelerated investment in that transition today,” said Ingrid Irigoyen, Director of coZEV. “This growing roster of coZEV 2040 signatories that represent a wide range of industries, boosts our sense of optimism that we can eliminate the climate impact of even the hardest to abate sectors. But first mover action in this space isn’t enough. We’re hopeful that global and regional policy action, such as the recently passed Inflation Reduction Act in the United States, the ongoing discussions in the European Union on their Fit For 55 policy, and the upcoming International Maritime Organization meetings, provide concrete policy wins that match cargo owners’ ambition to achieve the clean energy future we all deserve.”