Decarbonisation of the shipping industry requires green fuels at scales not available and costs not affordable today. Shipping needs to deploy 5% green fuels by 2030 to align with the trajectory of the Paris Agreement on climate change. This translates to approximately 40m tonnes of green ammonia or green methanol.
This article is part of a series written by people across shipping in response to this question about how to deploy a hypothetical TradeWinds Sustainable Shipping Fund:
How, where and why would you invest $1bn for the best return in sustainable shipping, as the industry grapples with the need to cut carbon emissions, improve efficiency and keep cargoes moving in a world facing multiple economic and political challenges? The investment will be made now and ideally held for the next seven years to the end of the decade.