UCL-Energy shipping team join GMF-led consortium in new $1m partnership with global network P4G
19 May 2020
New Partnership for Green Growth and Global Goals Getting to Zero Coalition Partnership will map the business case for shipping’s sustainable energy shift.
The new P4G Getting to Zero Coalition Partnership builds on the Getting to Zero Coalition, which unites more than 130 public and private organizations and has been endorsed by Governments in 14 countries.
UCL Energy Institute, as part of a consortium led by Global Maritime Forum, along with World Economic Forum, Friends of Ocean Action, International Association of Ports and Harbors, and Environmental Defense Fund, have partnered with the global network P4G to identify tangible business and investment opportunities in green energy projects that can propel maritime shipping’s decarbonization and contribute to sustainable and inclusive growth in developing and emerging economies.
The goal of the Coalition is to have commercially viable zero emission vessels operating along deep sea trade routes by 2030 as a key step towards achieving the climate goals set by UN maritime agency, the International Maritime Organization.
Dr Tristan Smith, Reader at the UCL Energy Institute and Director of UMAS, says:
“It is crucial that developing countries are leaders of shipping’s decarbonization. This will need public-private multi-stakeholder dialogue to ensure that all circumstances are considered both in SIDS and LDCs and the countries this project will study. The P4G Getting to Zero Coalition Partnership will explore how it can accelerate shipping’s green transition while taking into consideration the technological and economic impact on trade and opportunities for developing states, to ensure access to affordable, reliable, sustainable and modern shipping for all.”
The P4G Getting to Zero Coalition Partnership aims to identify new growth opportunities that will be needed as countries seek to recover better from the current COVID-19 pandemic.
As policymakers formulate policies and stimulus measures to kickstart the global economy, they have a unique opportunity to rebuild a better more sustainable and resilient economy by taking the long-term impacts of investments on the climate into consideration. Lessons of the coronavirus tell us that there is a need for a resilient and future-proof strategy to shape a sustainable future to avoid another global emergency that will have destructive and irreversible consequences on human wellbeing.
- Find out more about the P4G Getting to Zero Coalition Partnership.
- Find out more about the shipping research group at UCL Energy Institute.