Shipping Off Track To Meet Zero-Emission Fuel Target, Study Warns [Forbes]
WARTSILA CORP UNSP/ADR (WRTBY)
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Source: Forbes
The International Monetary Fund is predicting that China will surpass Japan as the world's second largest econmy by the end of 2010 with exports to reach $5.4 trillion. Japan's economic growth slowed to 0.4 percent in the second quarter. (Photo by Justin Sullivan/Getty Images) Getty Images The international shipping industry is not on track to meet its goal of having zero-emission fuels account for 5% of all fuels by 2030, according to a new report. The study by UCL Energy Institute, UN Climate Change High-Level Champions, and the Getting to Zero Coalition warns the next 12 months are critical to avoid shipping falling behind its climate goals. Global shipping is responsible for around 3% of the world's greenhouse gas (GHG) emissions and with global trade predicted to quadruple by 2050, it is thought emissions will skyrocket without urgent action. The International Maritime Organization (IMO) has set a goal of ensuring that zero or near-zero emission fuels make up 5% to 10%
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