The shipping industry could establish a 30% reduction in emissions by 2030 at zero cost to the industry, according to a new study conducted by DNV in line with the discussions taking place at the COP15 climate change summit.
Covering ships from all market segments, both from the existing fleet and newbuildings projected to be built in the years to come, the results of the study reveal that shipping, compared to a projected baseline (where no measures are applied) of 1,530 million tons of CO2, could create a reduction in emissions equalling to 500 million tons of CO2.
Supplementing this, it also demonstrated how the emission reduction potential would increase to 50% if all identified measures costing up to 100 $/tonne CO2 were implemented.
Underlining the possibilities for a range of reduction measures, Tor Svensen, COO of DNV Maritime, emphasised how the results are “encouraging, and added that “if the shipping industry starts acting now and applies the available cost-efficient technologies, emissions can be reduced considerably, without additional costs incurred.
“By doing this we can go a long way in meeting some of the tough requirements already set, and also those currently being debated in Copenhagen,” he said.
The study suggests that where emission reduction and sound economic rationale pull in the same direction, widespread implementation of cost-effective measures will come over time. Enforcement through regulatory means could, however, be necessary where the economic pull is weaker.
“While there is no silver bullet which could make it all happen, the aggregated effect of all measures are significant and will ensure an industry that operates in a more energy efficient manner and also takes its share of the common responsibility of reducing carbon emissions,” Mr Svensen revealed.