Hong Kong aims for net-zero shipping emissions by 2050 with green fuel initiative Hong Kong has unveiled a plan to promote green fuel bunkering, part of a push to elevate the city’s status as an international maritime centre. According to the action plan announced on Friday, the port of Hong Kong will reduce the total annual carbon emissions from international shipping by at least 20 per cent by 2030, compared with 2008, and 70 per cent by 2040. It will strive to reach net-zero carbon emissions from international shipping by 2050. To achieve the goals, Hong Kong will establish an incentive scheme to encourage companies who start green fuel bunkering business, subsidise green transformation of vessels and train talent in the area. “Hong Kong must accelerate the development of green marine fuel bunkering to respond timely to market demands, thereby enhancing its role as a bunkering port and strengthening its competitiveness as an international shipping centre,” said Lam Sai-hung, the Secretary for Transport and Logistics. Hong Kong’s Chief Executive John Lee Ka-chiu in his 2023 policy address said that the city would aim to become a global green maritime fuel bunker centre. The marine industry traditionally uses fossil fuels, and its carbon emissions account for about 3 per cent of the world’s total emissions. Countries from Singapore to the Netherlands have in recent years announced plans to adopt green fuels such as LNG. In 2016, China signed the Paris Agreement on climate change, which urges countries to reduce carbon emissions. In 2020, President Xi Jinping announced that China aims to reach peak carbon emissions by 2030 and become “carbon neutral” by 2060. Donald Trump, who is returning to the White House, in his previous term withdrew the US from the agreement. As a result, China is widely expected to lead the global fight against climate change. China announced a plan at the end of last year to supply more green maritime fuels, such as LNG and green methanol, and subsidise companies whose ships use green fuels. About 5,000 ocean-going vessels visit Hong Kong every year. The city ranked seventh among the world’s top 10 fuel bunkering ports in 2023. Singapore ranked the top and the Port of Ningbo-Zhoushan in China ranked fourth. “Hong Kong’s shipping industry needs to have deep and constructive cooperation with the renewable energy and alternative fuel sectors to achieve its own decarbonisation and align with the International Maritime Organization’s decarbonisation plan expected next year,” said Hing Chao, executive chairman of Wah Kwong Maritime Transport Holdings. The Hong Kong-based shipping firm is also a member of the Hong Kong Chamber of Shipping formed last month. “Considering China’s leading position in clean energy production, Hong Kong can also play a crucial role by facilitating the flow of alternative shipping fuels from China across the globe.” https://www.scmp.com/business/article/3286794/hong-kong-aims-net-zero-shipping-emissions-2050-green-fuel-initiative (ICE HONG KONG)

Fonte notizia: South China Morning Post