Industry professionals encouraged to share views on future of sustainable fuel in transportation

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Transportation industry professionals are invited to contribute their valuable insights on the future of sustainable fuel sources, in a survey spearheaded by Reed Smith, a global law firm that has advised the sector for nearly a century.

The initiative seeks to gather perspectives and predictions from professionals across the entire transportation sector. This includes, but is not limited to, those working in aviation, shipping, logistics, manufacturing, utilities, and environmental services.

Richard Hakes, chair of Reed Smith’s Transportation Industry Group, commented, “The industry has experienced significant changes over the past decade, driven by technological advances, regulatory developments, and environmental targets. Events such as the global pandemic and geopolitical factors have further emphasized the need for foresight and adaptability.”

Highlighting the widely discussed uncertainty surrounding the fuels of the future, Hakes added: “Determining the optimal solution in terms of cost, safety, storage, and scalability remains a challenge. Against the backdrop of ambitious targets – such as the European Green Deal which aims to slash transport emissions by 90% by 2050 – the industry is now grappling with decisions that will shape its trajectory.”

Preliminary feedback from the respondents suggests that close to half the industry is poised to embrace dual fuel as a transitional solution within the next five years. Responding to the numbers, Thor Maalouf, partner at Reed Smith, said: “It’s a dynamic landscape. As we collect more data, I’m curious to witness the potential shift in this percentage.”

Maalouf added: “Fostering a sustainable industry demands a collective commitment to knowledge exchange. A joined-up and collaborative approach is the most effective path towards sustainable fuels, and by pooling our expertise we can help steer the industry towards a more sustainable and innovative future.”

The survey seeks input on renewable energy sources, including the perceptions of sustainable options, potential challenges, barriers, and anticipated timelines for a complete transition to sustainable fuel. The survey takes less than five minutes to complete and is completely anonymous.

Nick Austin, partner at Reed Smith, stressed the importance of a diverse range of perspectives. He said: “We aim to capture insights from the full spectrum of the transportation sector. By collecting data from our clients and beyond, we hope to present results that offer clarity on industry views, predictions, and challenges.”

The survey can be found at: https://surveys.reedsmith.com/s/SustainableEnergyTransportation2023/:

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