ABS chairman, president and CEO Christopher J. Wiernicki: “Shipping will be the vehicle for the green transition.”
“Shipping will play a pivotal role in driving the global clean energy transition,” that was the message delivered by ABS chairman, president and CEO Christopher J. Wiernicki gave in a sequence of appearances on the prime stage vitality business convention CERAWeek, at the moment underway in Houston.
Wiernicki instructed the annual gathering of ministers and CEOs from international vitality and utilities, in addition to automotive, manufacturing, coverage and monetary communities, that transport was the car for the transition, discussing the hydrogen worth chain and evaluating various fuels in addition to business decarbonization challenges.
“For shipping, the challenge and opportunity lies in two stories: shipping for shipping, which is the decarbonization of our industry and shipping for the world, which highlights shipping’s role as an enabler of the global green energy transition,” mentioned Wiernicki. “It is ships that shall be carrying the hydrogen molecule both as ammonia or different hydrogen carriers and transport that shall be carrying liquified CO2. Our business will due to this fact be basic in supporting the rising hydrogen and carbon worth chains.
“The decarbonization of shipping is complex with unique challenges to navigate, let alone predict. It is a multi-dimensional lifecycle hybrid solution with numerous boundary conditions impacted by technology and infrastructure readiness timelines.”
Wiernicki went on to stipulate the size of the problem and transport’s contribution.
“The biggest challenge we all face in terms of realizing ambitious net zero commitments is the sheer gradient of the curve ahead of us,” he mentioned. “The tempo of the event of hydrogen and carbon worth chains goes to be key to managing that curve. The scale and magnitude of the duty earlier than us is daunting. It begins with understanding the calculus to get to internet zero by 2050. We will want 70% zero-carbon e-fuels, which requires 10 occasions extra renewable vitality than is at the moment produced, and 30% carbon-neutral gas, which would require 100 occasions extra carbon seize than we’ve right this moment – that’s if we’re to realize internet zero throughout the board.
“Ultimately, shipping will be the cornerstone on which all related supply chains will be built. Shipping will be the vehicle for the transition. So, governments must make investments to provide scalability of options and enable commercial first movers.”
