IMO Secretary-General Arsenio Dominguez emphasized the global shipping industry’s need for significant investment in technology and alternative fuels to achieve a net-zero transformation and drive sector-wide change at the Blue Economy Finance Forum in Monaco (8 June).
The global shipping industry is preparing for a net-zero transformation that will have a sector-wide impact on everything from supply chains and business models, to ships, ports and the maritime workforce.
IMO approved new regulations for net-zero ship fuels and emissions in April, set for adoption in October. Calls for investments in decarbonization are getting louder.
“Regulations alone cannot do the job. We need technological development and we need alternative fuels… And that can only happen in one way – with investment,” said Secretary-General Arsenio Dominguez, speaking at the Blue Economy Finance Forum in Monaco (8 June).
This includes investing in scaling up production of alternative fuels in large enough quantities to replace the 350 million tonnes of fuel oil
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