ICS PRESS RELEASE: Governments urged not to miss the boat on green fuel shipping
Circular Ref: A(22)240
Issue Date: 21 Nov 2022
New research from the Tyndall Centre at the University of Manchester highlights an urgent global need for investment in green fuels this decade to meet the Paris Climate goals.
The Report says shipping will be crucial in transporting green fuels, and shipments of ammonia and bioenergy could grow to the same levels as shipping of gas and coal today.
Twenty new large ammonia carriers need to be built every year to meet potential demand, but investment in production and transport infrastructure is being held back by weak policy support with only 4% of current commitments actually being funded.
Please find the full press release attached at Annex A.