The global marine industry is increasingly focused on reducing its carbon footprint. In fact, over the next 10 years, the only issue seen as having a greater impact is a potential global financial crisis, according to findings from the Global Maritime Issues Monitor 2019, compiled by the Global Maritime Forum in partnership with the International Union of Marine Insurance and Marsh JLT Specialty. The marine industry aims to halve its carbon footprint by 2050. But the technology is missing to do this, according to Stephen Harris, a Marine Insurance Technical Trainer at Marsh JLT Specialty’s Marine Practice. Marsh JLT Specialty is an affiliate of Guy Carpenter.
The marine industry emits around 1 billion tons of carbon dioxide per year, accounting for almost 3 percent of global emissions. Growing demand for shipping could see its emissions increase to 1.7 billion tons by 2050, unless things change — and quickly.
