The Global Maritime Forum, in collaboration with Arup, has uncovered the significant economic opportunities associated with decarbonising the shipping industry. Their analysis suggests that the shift towards green energy in this sector could generate up to four million new jobs by 2050. This transformation is closely tied to the development of renewable energy sources, hydrogen production, and e-fuel creation.
Shipping currently contributes to 3% of the world’s CO2 emissions, a figure comparable to the annual emissions of Japan. In response, the International Maritime Organization has set a goal to eliminate the use of fossil fuels in shipping by 2050. Achieving this will require substantial amounts of zero-emission fuels, especially e-fuels derived from hydrogen, with demand projected to reach 600 million tonnes by the mid-century mark.
The report titled “Green Jobs and Maritime Decarbonisation” highlights that transitioning to e-fuels could necessitate an investment of £3.2 trillion in renewable infrastructure and fuel production. This massive investment would not only advance environmental goals but also significantly contribute to job creation.
Jesse Fahnestock from the Global Maritime Forum emphasised the potential for creating a wide array of highly skilled green jobs through maritime decarbonisation. Many of these jobs are expected to be transferable to other sectors, further promoting global decarbonisation efforts beyond just shipping. The report forecasts that the 2030s will be a particularly crucial decade for job growth, with the potential for up to four million green jobs to be established worldwide.
Additionally, the Forum has called for more research into how future fuels can contribute to quality green job creation and how maritime decarbonisation will impact different regions globally.
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.
