Report

Charting a Course for Decarbonizing Maritime Transport : Summary for Policymakers and Industry

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collection.link.96
https://openknowledge.worldbank.org/handle/10986/2204
collection.name.96
Other Infrastructure Study
dc.contributor.author
Englert, Dominik
dc.contributor.author
Losos, Andrew
dc.date.accessioned
2021-04-14T18:31:00Z
dc.date.available
2021-04-14T18:31:00Z
dc.date.issued
2021-04-15
dc.date.lastModified
2021-05-18T17:58:00Z
dc.description.abstract
As the backbone of global trade, international maritime transport connects the world and facilitates economic growth and development, especially in developing countries. However, producing around three percent of global greenhouse gas (GHG) emissions and emitting around 15 percent of some of the world’s major air pollutants, shipping is a major contributor to climate change and air pollution. To mitigate its negative environmental impact, shipping needs to abandon fossil-based bunker fuels and turn to zero-carbon alternatives. This report, the “Summary for Policymakers and Industry,” summarizes recent World Bank research on decarbonizing the maritime sector. The analysis identifies green ammonia and hydrogen as the most promising zero-carbon bunker fuels within the maritime industry at present. These fuels strike the most advantageous balance of favorable features relating to their lifecycle GHG emissions, broader environmental factors, scalability, economics, and technical and safety implications. The analysis also identifies that LNG will likely only play a limited role in shipping’s energy transition due to concerns over methane slip and stranded assets. Crucially, the research reveals that decarbonizing maritime transport offers unique business and development opportunities for developing countries. Developing countries with large renewable energy resources could take advantage of the new and emerging future zero-carbon bunker fuel market, estimated at over $1 trillion, to establish new export markets while also modernizing their own domestic energy and industrial infrastructure. However, strategic policy interventions are needed to hasten the sector’s energy transition.
en
dc.identifier
http://documents.worldbank.org/curated/en/680021617997493409/Charting-a-Course-for-Decarbonizing-Maritime-Transport
dc.identifier.uri
http://hdl.handle.net/10986/35436
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
INTERNATIONAL SHIPPING
dc.subject
GREENHOUSE GAS EMISSIONS
dc.subject
ZERO-CARBON FUEL
dc.subject
BUNKER FUEL
dc.subject
MARITIME TRANSPORT
dc.subject
DECARBONIZING MARITIME TRANSPORT
dc.subject
LIQUEFIED NATURAL GAS
dc.subject
LNG
dc.title
Charting a Course for Decarbonizing Maritime Transport
en
dc.title.subtitle
Summary for Policymakers and Industry
en
dc.type
Report
en
okr.associatedcontent
https://openknowledge.worldbank.org/handle/10986/35435 Potential of Zero-Carbon Bunker Fuels
okr.associatedcontent
https://openknowledge.worldbank.org/handle/10986/35437 Role of LNG in the Transition Toward Low- and Zero-Carbon Shipping
okr.date.disclosure
2021-04-15
okr.doctype
Publications & Research :: Working Paper
okr.doctype
Publications & Research
okr.googlescholar.linkpresent
yes
okr.identifier.report
158015
okr.language.supported
en
okr.topic
Transport :: Transport Economics Policy and Planning
okr.topic
Energy :: Energy and Environment
okr.topic
Energy :: Fuels
okr.topic
Environment :: Climate Change Mitigation and Green House Gases
okr.topic
Environment :: Climate Change and Environment
okr.topic
Environment :: Marine Environment
okr.unit
SCCAO

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