Some of the world’s biggest retailers have taken a significant step toward decarbonization, committing to zero-carbon ocean shipping by 2040.
Cargo ships are one of the world’s biggest polluters, yet they are a vital part of international trade. Multiple companies have worked to address the problem, but any real solution requires the retailers shipping products to be on board (pun intended).
It appears that some of the world’s largest retailers are doing just that, committing to using only cargo ships that use zero-carbon fuel by 2040. Amazon, IKEA, Patagonia and Michelin are just a few of the retailers involved in Cargo Owners for Zero Emissions Vehicles (COZEV).
“We recognize that reaching this goal requires the shipping industry to deploy new technologies and utilize zero-carbon shipping fuels that are not yet in widespread use,” the companies write. “By setting this target and signaling our dedication to decarbonize this part of our supply chains, we hope to inspire a surge in investment by ocean freight carriers and producers of zero-carbon shipping fuels. To satisfy our climate ambitions, investments should focus on solutions with the potential—either individually or in combination—to reach sufficient scale to truly decarbonize our supply chains by 2040 and the entire shipping industry by 2050 at the latest. As we evaluate potential solutions, we should also ensure they can become economically viable through collaboration across the supply chain and with appropriate policy support.”