Net Zero by 2050

Will Global Shipping Hit Net Zero By 2050?

Credits: Matthias-heyde/unsplash

In the wake of COP26, the international shipping sector felt the pressure to reduce its greenhouse gas (GHG) emissions more rapidly. The recent adoption of the 2023 International Maritime Organisation (IMO) Strategy on Reduction of GHG Emissions confirms ambitious plans to achieve net zero for the sector by 2050. But is that goal achievable, and what will need to change for it to happen?

What Was The Situation?

The existing IMO strategy (agreed at MEPC 72 in April...

https://mfame.guru/will-global-shipping-hit-net-zero-by-2050/

IEA Report Says ‘No New Fossil Projects’ To Reach Zero Emissions Target

  • Global oil demand to shrink by 75% under net-zero scenario
  • IEA still expects oil demand to recover from pandemic hit
  • OPEC market share would jump, revenues slide under net-zero shift

The International Energy Agency has said the world needs no new oil and gas developments and global oil demand would collapse by 75% under an energy scenario needed to put the world on a path to net-zero emissions by 2050, reports Platts.

Net Zero by 2050

Climate pledges by governments to date – even if fully...

https://mfame.guru/iea-report-says-no-new-fossil-projects-to-reach-zero-emissions-target/