ICS, Emirates Shipping Association to pursue COP28 goals under new MoU

The International Chamber of Shipping (ICS) has signed a Memorandum of Understanding (MoU) with the Emirates Shipping Association for collaboration towards the UNFCCC Climate Conference COP28 and beyond.

This landmark signing took place at the International Maritime Organization’s (IMO) headquarters in London on 1 December.

Following the success of the Shaping the Future of Shipping conference at COP26 in Glasgow, United Kingdom, and the increased profile of shipping at COP27 in Sharm El-Sheik, Egypt, ICS and the Emirates Shipping Association recognised the importance of COP28 and the role of shipping in the global energy transition.

The international maritime sector is currently responsible for almost 3% of global emissions. Governments around the world have set sights on creating the necessary infrastructure that will help put the shipping sector on a pathway to align with the 1.5-degree goal this decade.

Meanwhile, the UAE was one of the first governments o sign up to work on the Clean Energy Marine Hubs initiative (CEM-Hubs).

The CEM-Hubs initiative, which is co-led by a taskforce of CEOs, is a cross-sectoral public-private initiative aiming to accelerate the production, export and import of low-carbon fuels across the world.

The initiative is co-ordinated with the support of the ICS and the International Association of Ports and Harbours (IAPH), and the Clean Energy Ministerial (CEM).

COP28 will be hosted in the UAE next year and the two organisations formed this milestone agreement to work with government of the UAE collaboratively in the lead up to the UNFCCC Climate Conference.

“Emirates Shipping Association is pleased to strengthen the relationship with International Chamber of Shipping through this MOU, as we hope to take a step closer in preparing and navigating the shipping industry in the UAE towards a responsible energy landscape,” Abdulkareem Almessabi, Chairman of the Emirates Shipping Association commented.

He added that “sustainability is one of the important pillars of the association and we do look forward to engaging with the private sector and building their capacity to enable transition. Our collaboration with ICS and Ministry of Energy and Infrastructure (MOEI) at COP 28 will mark an impact within the maritime industry”.

“The next few years will be critical and shipping will play a fundamental role in delivering low carbon fuels globally, acting as an enabler for governments and industries to achieve their climate targets. We look forward to working with the Emirates Shipping Association on this in the lead up to UNFCCC Climate Conference COP28 and beyond,” ICS Secretary General, Guy Platten highlighted.

As part of its efforts to accelerate zero-emission goals, ICS has recently proposed the establishment of a fund and reward system to accelerate the sector’s uptake of alternative fuels and its transition to a net zero future.

The refined proposal submitted to the IMO  combines elements from its previously proposed carbon tax proposal which was tabled by the global regulator as well as submissions from other countries.