CLIMATE CHALLENGES IN THE MARITIME INDUSTRY
DECARBONIZATION IN INTERNATIONAL MARITIME TRANSPORT
According to the IMO's Fourth Greenhouse Gas (GHG) Study, the climate impact of maritime transport increased 10% in six years and could increase up to 50% by 2050. Thus, the study shows that greenhouse gas emissions effect of maritime transport increased from 977 million tons in 2012 to 1,076 million tons in 2018, representing a rise of 9.6%.
This has generated the implementation of regulations on operational efficiency that promote reducing the consumption of vessels that navigate the oceans. In addition, a series of technological innovations have been implemented such as "Just in Time", "port call optimization", "virtual arriving" and the worldwide introduction of alternative fuels and / or energy sources.
The initial strategy of the International Maritime Organization (IMO) regarding the reduction of emissions was approved on April 2018. This strategy seeks to promote measures in the short, medium and long term, in order to contribute to the reduction of 40% intensity of emissions by 2030 and 50% of greenhouse gas (GHG) emissions from maritime transport by 2050. By 2023 the revision of the strategy aligned with short-term measures must be adopted and the strategy must be revised, this deadline will be critical to achieve the overall ambition set out in the 2015 Paris Agreement.
THE FINAL CONSUMER AS A DRIVER OF THE GREEN ECONOMY
End consumers have increased their commitment to the environment. Moreover, they are showing a tendency to pay more or a "Premium" for products and services that carry a green value chain. This has generated an attractive Green business model for the maritime industry that has promoted the inclusion of certifications or green labels by new players such as transporters, ports, channels, logistics operators and cargo owners.
The green business model includes a fundamental actor: credit institutions. Multilateral, regional and national banks have started a process of promoting green financing. These financings seek to promote an integration between the end consumer and the companies involved in the logistics chain, based on regulatory, operational and reputational aspects that integrate the actors in a long-term global sustainability.
The certifications or green seals generate a positive impact in qualitative and quantitative matters for those who applied within their organizational strategies. However, they have begun to experience the negative impacts on social, environmental, economic and image matters for companies that are lagging behind in these good practices "on this occasion requested by the Final Consumer".
CLIMATE RISK AND VULNERABILITY: NECESSARY VARIABLES TO BE TAKEN INTO CONSIDERATION
We can define Vulnerability as the sensitivity of an ecosystem to climatic adversities and its resilience and Risk as the Analysis of the causes of the impacts and the options to moderate them through a cross-sectional analysis and matrix.
Risk analyzes have been increased by actors within maritime transport, for example, maritime insurance has reported a growth in claims for weather events, delays or infrastructure deteriorated as a result of the weather. Similarly, maritime transport companies have begun the comprehensive analysis of their future strategies to mitigate the risks of adaptation to new technologies, projecting their long-term investments with decarbonization commitments to 2050.
The risk of loss of reputation or image is one of the most sensitive and its impact is immediately measurable. Consumer demand for climate action has generated great pressure on organizational messages and change towards climate sustainability. Actions such as reducing emissions, digital transformation, new technologies and decarbonization plans have generated adequate mitigation of this risk and vulnerability.
THE CHALLENGES IN LATIN AMERICA REGARDING NEW TECHNOLOGIES
It is common to participate in international forums and conventions where various pilot projects on decarbonization are presented. Furthermore, new clean fuel technologies and operational measures are presented that are aligned with the objectives and goals of the International Maritime Organization. Most of these projects are located or distributed in regions of Europe, Asia or North America, generating an important challenge for Latin America in terms of designing program plans focused on meeting these global goals for reducing climate change.
By: Alexis X. Rodríguez