The world’s largest shipping companies are starting to update their fleets for a greener future. Maersk received the world’s first dual-fuel methanol container ship in July 2023, and dozens more container ships that can run on alternative fuels are currently on order.
The industry – responsible for about 3% of global greenhouse gas emissions, more than Canada and Ireland combined – has reasons to act and to have some confidence in its multimillion-dollar investments.
On July 7, the 175 member countries of the International Maritime Organization, a United Nations agency that regulates global shipping, agreed to a new climate strategy that includes reaching net-zero greenhouse gas emissions “by or around, i.e., close to, 2050.”
Associate Professor of Business Don Maier provides insight on changes in maritime trade strategies from his years working in the shipping industry and as a researcher and analyst. Read the full article at The Conversation.
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Contact:
Cindi King (865-974-0937, cking126@utk.edu)