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Industry big hitters outline challenges to sector becoming socially and environmentally responsible by 2040
Some of the biggest names in shipping will today call on the industry to take co-ordinated action so that the maritime sector is sustainable and profitable in 30 years' time.
The 14 members of Forum for the Future's Sustainable Shipping Initiative (SSI), including Maersk, Cargill, Lloyd's Register and the WWF, will jointly publish a Call to Action paper (PDF) identifying climate change and oil supply as two of the three key challenges the industry must overcome in the coming decades.
The paper says that volatile oil prices are likely to significantly increase costs, and that the industry is under growing pressure to reduce its greenhouse gas emissions.
Shipping currently accounts for around four per cent of the world's emissions, but its share is predicted to expand rapidly as international trade increases.
The SSI says that companies now investing in energy efficiency and new fuels will by favored by customers and suppliers, including ports, financiers and insurers.
"This [investment] is challenging but necessary," the report says. "Companies that fail to act will be vulnerable to competition in an increasingly uncertain market."
As well as calling on the industry to work together to build new, energy efficient ships, and retrofit existing vessels to the same standards, the SSI calls on shipping companies to help develop legislation rewarding sustainability and to follow long-term investment plans that take social and environmental obligations into account.
Complete Story at:
http://www.businessgreen.com/bg/news/2071187/shipping-sets-sail-sustainable-future
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