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At COP27, organizations and projects across the maritime value chain signed a statement pledging to the fast deployment of green hydrogen-based fuels this decade.

Signatories committed to develop commercially feasible zero-emission deep-sea vessels by 2030, ramp up production of green hydrogen for shipping to 5.5m tons per year by 2030, and decarbonize the shipping sector by 2050.

The Aspen Shipping Decarbonization Initiative, the Getting to Zero Coalition, the Green Hydrogen Catapult, the Green Hydrogen Organization (GH2), ACWA Power, A.P. Moller – Maersk, CWP Global, Fortescue Future Industries, InterContinental Energy, and MAN Energy Solutions signed the joint statement.

The joint declaration aims to promote confidence for the deployment of low-emissions fuel at scale to achieve cost reductions and minimize investment risk.

Signatories urged international and national governments to support private-sector pledges with ambitious policies. The joint declaration requests the International Maritime Organization and member governments to reduce maritime emissions by 100% by 2050 and utilize 5% zero-emission fuels by 2030.