Sustainable Fuels and the Eco-Friendly Future of the Maritime Industry
Maritime transport of goods and people plays an essential role in the global economy, with more than 80 percent of international trade volume transported by sea. While shipping is one of the most energy-efficient modes of transport, it is also a significant contributor to global greenhouse gas emissions. In 2023, the industry accounted for over 1 billion tons of CO₂ emissions—around 3% of total human-caused greenhouse gas emissions.
Since the 2008 financial crisis, shipping companies have adopted numerous measures to reduce fuel consumption. However, achieving full sustainability requires overcoming five key challenges, which are closely connected to the roles and interests of various industry stakeholders. This strategy paper explores these interdependencies and outlines actionable solutions for a sustainable future.