New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
Can carbon capture get ship shape?
11/10/2023
6 min read
Feature
The global shipping sector is one of the greatest challenges for reaching net zero. Responsible for more annual emissions than aviation, it cannot be electrified like most road transport. Here, Jayden Rae, Founders’ Associate at Seabound, discusses decarbonisation approaches for the maritime sector, specifically the nascent technology onboard carbon capture (OCC).
Maritime transport has withstood the test of time to move large volumes of goods over long distances efficiently and cheaply. But it has also attracted criticism for its environmental impact – shipping is responsible for 3% of global greenhouse gas (GHG) emissions, which, according to the International Council on Clean Transportation, accounts for more than 1bn tonnes of CO2 annually.
Furthermore, even as vessels modernise and become operationally more efficient, the surge in global consumption ensures that demand for shipping grows. Consider this: shipping transports 10bn t/y of goods, dwarfing the volume conveyed by air almost 300 times. Without intervention, shipping’s share of global emissions could grow to 17–18% by 2050, forecasts a European Environmental Agency report.
While many segments within the transportation ecosystem are making leaps towards sustainability – marked by a 35% annual growth in electric car sales and large companies adopting electric fleets – the global shipping industry remains a characteristically hard-to-abate sector.