Energy giant bp has committed to a long term collaboration on the development of new alternative fuels and low carbon solutions for the shipping industry by joining the Mærsk Mc-Kinney Moller Centre for Zero Carbon Shipping.
It has signed an agreement as a strategic partner, committing to work with experts on relevant research and development projects in the Centre’s portfolio and contribute to the development of methodologies for safe and sustainable fuel options for shipping.
In addition, bp will join the Centre Advisory Board to provide guidance for transition strategies and further development of its activities.
With 70,000 ships consuming m300Tons of fuel per annum, global shipping accounts for around 3% of carbon emissions, a share that is expected to increase over the coming decades as other industries tackle climate emissions.
Founded in 2020, the Centre is a non-profit, independent research and development centre working with industry players across the energy and shipping sectors to develop solutions and viable decarbonisation pathways for the global shipping industry.
William Lin, bp’s Executive Vice President of regions, cities and solutions said: “At bp, we want to play a role in advocating for policies to help decarbonise carbon intensive sectors like shipping.
“The shipping industry’s transition to net zero is complex and requires technology advancements and policies that will give companies across the value chain the confidence to act. This is a privileged opportunity to collaborate and advocate with key industry players to progress solutions at the pace and scale needed. When we work together, we can fast track development, de-risk investments and provide signals to the market that will speed up the decarbonisation of the shipping industry.”