The decarbonization of the global shipping industry will require new low-carbon fuels. This presents a great opportunity for developing countries, a COP 26 side event heard.

The IMO-UNCTAD organized event, seizing opportunities for developing countries in providing zero-carbon fuels to global shipping (10 November), was held during the 26th United Nations Climate Change Conference in Glasgow, United Kingdom.

“There is a need for low and zero carbon marine fuels – this creates a promising opportunity for several developing nations because of geographic locations and their access to abundant renewable sources of energy,” said IMO’s Jose Matheickal.

Panelists from Chile, Indonesia, Kenya, Panama and South Africa highlighted their countries’ push to support the transition to clean and sustainable fuels for shipping, including the potential for supplying green ammonia and green hydrogen.

“With the emergence of zero carbon bunker fuels, developing countries have a lot of potential for supplying zero carbon bunker fuel and this will allow them to enter the market. This is a great opportunity for development,” said Ms. Isabelle Durant, Deputy Secretary-General, UNCTAD.

The moderator was Mr. Jose Matheickal, Chief, Department of Partnerships and Projects, IMO. The panelists were: Ms. Isabelle Durant, Deputy Secretary-General, UNCTAD; Mr. Binyam Reja, Acting Global Director for Transport, and Manager of Transport Global Practice, World Bank; Ms. Johannah Christensen, CEO, Global Maritime Forum; Mr. Camilo Avilés Arias, Unit Head for New Energy Carriers, Division for Fuels and Energy Carries, Ministry of Energy, Chile; Mr. Basilio Dias Araujo, Deputy for Maritime Sovereignty and Energy, Coordinating Ministry for Maritime Affairs and Investment, Indonesia; Ms. Nancy Wakarime Karigithu, Principal Secretary, State Department for Maritime and Shipping Affairs, Kenya; Mr. Alexis Rodriguez, Sustainability Manager, Panama Canal; Mr. Jak Koseff, Senior Advisor: Economic Acceleration & Special Projects, Office of the MEC for Economic Development, Environment, Agriculture & Rural Development, Gauteng Provincial Government, South Africa.

Marex Media