IKEA, Amazon, Unilever Among Companies Committing to Zero-Carbon Shipping
October 19 2021 - 10:29AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Companies including IKEA, Amazon.com Inc., Unilever
PLC and Inditex SA on Tuesday jointly committed to switching all of
their ocean freight to vessels powered by zero-carbon fuels by
2040.
Through a new cargo owner-led network, Cargo Owners for Zero
Emission Vessels, the companies have agreed to target zero-carbon
shipping and rapidly accelerate decarbonization efforts.
Amazon, Brooks Running, Frog Bikes, IKEA, Inditex, Michelin,
Patagonia, Tchibo Holding AG and Unilever are the first signatories
to the 2040 ambition statement facilitated by the network.
"IKEA, together with the other signatories, are ready to do our
part and purchase only zero-emissions ocean transport services by
2040, call on policymakers around the world to take ambitious
actions to advance the decarbonizing of the ocean industry and set
more ambitious goals," IKEA said in a statement.
The formation of the Cargo Owners for Zero Emission Vessels
initiative was facilitated by nonprofit organization Aspen
Institute.
The shipping industry has agreed to boost the global fleet's
energy efficiency by at least 40% over the next decade and cut
overall greenhouse-gas emissions from ship exhaust in half by 2050
compared with 2008 levels.
The deadlines set in 2018 by the International Maritime
Organization, the United Nations' marine regulator, will likely
become more stringent in 2023, when the body meets to review its
strategy.
Shipping-services provider Clarkson Research Services Ltd. has
estimated that it may cost the industry more than $3 trillion for
ships to switch to new forms of power.
--Costas Paris contributed to this article
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 19, 2021 11:14 ET (15:14 GMT)
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