Moving towards zero-emission by 2030 - a key step towards decarbonizing shipping. What progress is evident at this stage? Identify the various challenges at hand.
This research paper seeks to investigate the feasibility of decarbonizing shipping by 2030, through analyzing the various key progresses that have been made by the industry, and the challenges that are faced by the industry in pursuit of this monumental undertaking. The progress is investigated main...
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| Format: | Final Year Project (FYP) |
| Language: | English |
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Nanyang Technological University
2020
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| Online Access: | https://hdl.handle.net/10356/145451 |
| _version_ | 1826111104621740032 |
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| author | Li, Yuquan |
| author2 | - |
| author_facet | - Li, Yuquan |
| author_sort | Li, Yuquan |
| collection | NTU |
| description | This research paper seeks to investigate the feasibility of decarbonizing shipping by 2030, through analyzing the various key progresses that have been made by the industry, and the challenges that are faced by the industry in pursuit of this monumental undertaking. The progress is investigated mainly under 2 categories: regulations, and decarbonization initiatives.
The regulations that benefit the movement towards decarbonizing shipping include the IMO 2050 GHG strategy, the EU MRV and IMO DCS, and the EEDI regulations. The IMO 2050 GHG strategy is currently an approved follow-up plan that helps guide the organization towards the milestone 2023 revision of their GHG strategy, potentially finalizing pathways necessary to decarbonization by 2030. The IMO DCS and EEDI are both regulations from IMO, both being essential in addressing shipping emissions. The IMO DCS and EU MRV both mandate collection and submission of data, allowing for better monitoring and tracking of emissions to identify problem areas. The EEDI “phase 3” has been brought forward, adding pressure on the industry to accelerate improvements in energy efficiency of ships’ designs. The community initiatives include the Getting to Zero Coalition, the Pacific Blue Shipping Partnership, and the TTI program. These initiatives all contribute to the idea of decarbonization, offering solutions from different pathways and angles. The Getting to Zero Coalition being the most holistic, consisting of member companies from different industries, and addresses the issue through a more comprehensive framework, including the financing and regulatory concerns. The challenges pertinent to decarbonizing shipping by 2030 is varied in nature, but is largely agreed upon between our survey respondents, interviewees, and other studies of similar nature. Replacement of assets and infrastructure, a lack of consensus in decisions, and industry or project uncertainties being some of the key challenges identified.
Despite the current progress and challenges faced, the ambition of decarbonizing shipping by 2030 is kept alive by industry actors through the continued discussion of the topic. Currently, the overall feasibility of decarbonizing shipping by 2030 is largely unclear, due to a lack of concrete progress borne out discussions and initiatives thus far. The next most crucial milestone is the official revision of the IMO GHG strategy in 2023, as regulations put forth from IMO are essential in fostering motivation and movement towards a unified goal of decarbonizing shipping by 2030. Other alternative solutions should also be considered, such as designing and implementing a global carbon-pricing mechanism that is fair or introducing an emissions trading schemes on a global scale. |
| first_indexed | 2024-10-01T02:45:10Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/145451 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T02:45:10Z |
| publishDate | 2020 |
| publisher | Nanyang Technological University |
| record_format | dspace |
| spelling | ntu-10356/1454512020-12-22T03:01:12Z Moving towards zero-emission by 2030 - a key step towards decarbonizing shipping. What progress is evident at this stage? Identify the various challenges at hand. Li, Yuquan - School of Civil and Environmental Engineering Tan Kim Hock kh_tan@ntu.edu.sg Engineering::Maritime studies This research paper seeks to investigate the feasibility of decarbonizing shipping by 2030, through analyzing the various key progresses that have been made by the industry, and the challenges that are faced by the industry in pursuit of this monumental undertaking. The progress is investigated mainly under 2 categories: regulations, and decarbonization initiatives. The regulations that benefit the movement towards decarbonizing shipping include the IMO 2050 GHG strategy, the EU MRV and IMO DCS, and the EEDI regulations. The IMO 2050 GHG strategy is currently an approved follow-up plan that helps guide the organization towards the milestone 2023 revision of their GHG strategy, potentially finalizing pathways necessary to decarbonization by 2030. The IMO DCS and EEDI are both regulations from IMO, both being essential in addressing shipping emissions. The IMO DCS and EU MRV both mandate collection and submission of data, allowing for better monitoring and tracking of emissions to identify problem areas. The EEDI “phase 3” has been brought forward, adding pressure on the industry to accelerate improvements in energy efficiency of ships’ designs. The community initiatives include the Getting to Zero Coalition, the Pacific Blue Shipping Partnership, and the TTI program. These initiatives all contribute to the idea of decarbonization, offering solutions from different pathways and angles. The Getting to Zero Coalition being the most holistic, consisting of member companies from different industries, and addresses the issue through a more comprehensive framework, including the financing and regulatory concerns. The challenges pertinent to decarbonizing shipping by 2030 is varied in nature, but is largely agreed upon between our survey respondents, interviewees, and other studies of similar nature. Replacement of assets and infrastructure, a lack of consensus in decisions, and industry or project uncertainties being some of the key challenges identified. Despite the current progress and challenges faced, the ambition of decarbonizing shipping by 2030 is kept alive by industry actors through the continued discussion of the topic. Currently, the overall feasibility of decarbonizing shipping by 2030 is largely unclear, due to a lack of concrete progress borne out discussions and initiatives thus far. The next most crucial milestone is the official revision of the IMO GHG strategy in 2023, as regulations put forth from IMO are essential in fostering motivation and movement towards a unified goal of decarbonizing shipping by 2030. Other alternative solutions should also be considered, such as designing and implementing a global carbon-pricing mechanism that is fair or introducing an emissions trading schemes on a global scale. Bachelor of Science (Maritime Studies) 2020-12-22T03:01:11Z 2020-12-22T03:01:11Z 2020 Final Year Project (FYP) https://hdl.handle.net/10356/145451 en application/pdf Nanyang Technological University |
| spellingShingle | Engineering::Maritime studies Li, Yuquan Moving towards zero-emission by 2030 - a key step towards decarbonizing shipping. What progress is evident at this stage? Identify the various challenges at hand. |
| title | Moving towards zero-emission by 2030 - a key step towards decarbonizing shipping. What progress is evident at this stage? Identify the various challenges at hand. |
| title_full | Moving towards zero-emission by 2030 - a key step towards decarbonizing shipping. What progress is evident at this stage? Identify the various challenges at hand. |
| title_fullStr | Moving towards zero-emission by 2030 - a key step towards decarbonizing shipping. What progress is evident at this stage? Identify the various challenges at hand. |
| title_full_unstemmed | Moving towards zero-emission by 2030 - a key step towards decarbonizing shipping. What progress is evident at this stage? Identify the various challenges at hand. |
| title_short | Moving towards zero-emission by 2030 - a key step towards decarbonizing shipping. What progress is evident at this stage? Identify the various challenges at hand. |
| title_sort | moving towards zero emission by 2030 a key step towards decarbonizing shipping what progress is evident at this stage identify the various challenges at hand |
| topic | Engineering::Maritime studies |
| url | https://hdl.handle.net/10356/145451 |
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