In international trade, where most goods cross the oceans, the shipping industry plays a crucial role in the global economy.
While it efficiently transports goods in terms of carbon emissions per cargo weight, it is a huge contributor to the planet’s carbon footprint, responsible for 3% of worldwide greenhouse gas emissions. This is mainly due to the extensive movement of goods and the industry’s heavy reliance on fossil fuels.
In the effort to move towards carbon neutrality, the International Maritime Organization (IMO) has updated its plan to reduce greenhouse gas emissions, aiming for net-zero emissions around 2050.
In response, major companies are ordering ships powered by alternative fuels. Stricter measures like the EU Emissions Trading System (ETS) and FuelEU Maritime initiative are also anticipated to raise costs for heavy emitters.
Quadrise plc (LON:QED) is an energy technology provider whose solutions enable production of cheaper, cleaner, simpler and safer alternatives to fuel oil and biofuels, proven in real world applications. Quadrise technologies produce transition fuels called MSAR® and bioMSAR™, which allow clients in the shipping, utilities and industrial sectors to reduce carbon emissions whilst also saving costs.
