EMEA News
MEPC80: Agreement Hits Right Note for Green Investment
The International Maritime Organisation has agreed a framework on reducing greenhouse gas emissions from shipping that will give funds the confidence they need to start investing in the shipping industry, according to ZESTA secretary general Madadh Maclaine.
Maclaine told Ship & Bunker that the adoption of its revised strategy for GHG emissions from shipping at MEPC80 had made "climate history".
And for investors looking at the sector, it provides the certainty they require.
"The numbers that we have are high enough to trigger investment," Maclaine said.
"By 2040, we are looking at 70% to 80% reduction in GHG emissions."
That "de-emissioning" represents a major opportunity for investors.
Maclaine said that it is her job "to turn the language of diplomacy" into the hard numbers that engineers, accountants and investors can put into spreadsheets.
"I can start speaking to finance, speaking to investors to line up the projects that are going to deliver on these targets," she said.
ZESTA promotes zero-emissions technology to the shipping sector and was a participating entity in the MEPC discussions.
