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LOC discusses industry initiatives on decabornisation

“Recently, we have seen the development of industry decarbonisation initiatives, intended to influence towards the reduction of CO2 emissions from merchant shipping, thus supporting the International Maritime Organisation‘s initiative in achieving a 50% reduction by 2050.”

LOC’s civil engineering consultant and marine decarbonisation consultant, George Savvopoulos, discusses in this month’s IUMI Eye, current industry initiatives in maritime markets, supporting the IMO’s strategy on reducing carbon emissions.

He mentions initiatives like the Poseidon Principles from financial institutions and the introduction of the Sea Cargo Charter from charterers, and discusses what future change might look like.

“Change is imperative. It will come in the form of energy saving upgrades that lower fuel consumption by current engines. It will come from alternative fuels, or from new carbon-free engine technologies. There is no single solution.”

George Savvopoulos, LOC London

Read the full article on IUMI’s website here and to access the recording to IUMI’s recent webinar: “IMO’s strategy on the reduction of GHG emissions – and ways to achieve it”.