A $10bn bill on zero-carbon goal of Japanese Shipping

A policy of Japanese government to achieve a carbon neutral environment by 2050 was supported by the Japanese Shipowners’ Association (JSA) who is ready to employ $10 billion towards this target.

As the official proposal is to be presented to the International Maritime Organisation (IMO) by the Japanese government, the Japanese Shipowners’ Association stated that, “Today, as a current and future leader in the global shipping field, the Japanese shipping industry has committed itself to the challenge of 2050 net-zero GHG”.

The alternatives fuels examined, the JSA said, are ammonia, hydrogen and carbon-recycled methane.

One hundred new ships need to be built by the Japanese industry every year, at a $10 billion annual cost, while working alongside other industries is essential to reach the goal.

While Japan’s target is set to 46% cut by 2030, more countries have joined the climate change battle by increasing their own targets, which is expected to be presented during the Glasgow COP26 climate conference, 7-8 November 2021.

(Witten and edited by: The Decision Maker)