Industry needs to take action today to meet the 2050 emissions targets

In a statement released to its blog, shipping technology start-up CargoMate has issued a call to industry to begin taking action today to meet the IMO’s ambitious target of a 50% reduction in CO2 emissions by 2050.

In April this year, the IMO’s Marine Environment Protection Committee voted to introduce a target to reduce shipping’s greenhouse gas emissions by half from 2008 levels by 2050, and to create a long term strategy to decarbonise the industry.

According to CargoMate, the industry needs to take a more strategic approach to the planning required to hit this goal.

“If we want to stand any chance of hitting the 2050 goal as an industry we need to extend our horizons and start making provisions and changes now, not in 2048,” said Nick Chubb, Head of Growth at CargoMate. “Assuming emission levels are still hovering around the 2008 peak in 2020, we will need to reduce emissions by just 2.4% each year to hit the 50% goal 30 years later.”

CargoMate, whose platform allows vessel operators to reduce fuel consumption by improving the efficiency of port visits, believe that emerging technology holds the key to reducing emissions.

“As well as investing in the research and testing of new fuels and vessel designs, we need to use the billions of data points available today to fully optimise how we operate ships to reduce the energy consumption of the world fleet and make new fuel options viable” explained Mr Chubb.

“Thirty two years is a long time, but shipping moves slowly and the time will go quickly. We have a unique opportunity as an industry to change, but if we treat the 2050 goal like we have other IMO regulations, we will miss the chance.”