Key to carbon capture to net zero by 2050

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“Carbon capture is going to be a key transformative technology for shipping to achieve net zero emissions by 2050. Meeting the challenge ahead of us, which is the simple gradient of the curve, will be critical. At the moment, we can only see the outlines of a solution to get us to 2050. But it’s already clear that net zero cannot realistically be achieved without effective carbon capture and storage technology.

Speaking at Posidonia, Wiernicki said speed would be key to meeting the 2050 target.

“The speed of the transition to net zero will be dictated by the speed of development of the carbon and hydrogen value chains. In order to reach net zero by 2050, we will need 10 times more renewable energy than what we have today and vast carbon capture capabilities,” he said.

“The hydrogen value chain includes all activities related to the production of green and blue hydrogen and the conversion of hydrogen into other low or zero carbon carrier fuels, such as methanol , methane and ammonia.

Hydrogen and carbon value chains are a main theme of ABS’s recently released Zero Carbon Outlook, which cites IPCC and IEA data that CCS will need to move from 50 million tonnes of CO2 in 2020 to 800 million tonnes by 2030 and over 5,000 million tonnes by 2050.

“The new story of shipping fuel is just beginning to be written. The next ten years will determine which fuels have a place at the table based on their availability and scalability, safety, pricing, infrastructure maturity, vessel type and trade routes.

As the IMO convened for MEPC 78, Wiernicki urged regulators to review SOLAS and clarify Carbon Intensity Indicator (CII) requirements and details. The ITC comes into effect on January 1, 2023, but the carbon reduction rate has not yet been set beyond 2026.

“We are at the start of a decade of change. CII will begin to bring industry together and then the introduction of market-based measures will redefine the trading relationship. Meanwhile, regulators have homework to do. The industry needs consistency, and the challenge now is to lock in the CII code. Is it tank-to-wake or well-to-wake? We need to know. There are big decisions that depend on this question. At the same time, existing regulations such as SOLAS need to be modernized,” he said.

The full report is available online here: ABS – Setting the Course for Low-Carbon Shipping: Zero-Carbon Perspectives

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