Here are nine strategies Singapore could use to decarbonise the martime industry
The Singapore government has received an international panel's reccomendations on having an eco-friendly maritime industry.
To support the Maritime Singapore Decarbonisation Blueprint of 2050, the International Advisory Panel on Maritime Decarbonisations (IAP) submitted its recommendations to the government.
These recommendations aim to lower greenhouse gas emisions, set better standards, innovate the maritime industry, build supporting infrastructure, deploy national to global incentives, and connect global stakeholders.
"We will consider their recommendations when developing the Maritime Singapore Decarbonisation Blueprint 2050. The fight against climate change is a global ambition and a collective responsibility. Singapore is committed to do our part to support the IMO and the international maritime community in climate action," said Senior Minister of State for Ministry of Foreign Affairs and Ministry of Transport Chee Hong Tat in a statement.
The IAP's recommendations can be broken down into the following four strategic objectives and nine pathways:
OBJECTIVE 1: Harmonise standards
1. Shape common metrics for carbon accounting
2. Set standards for new technologies and solutions
OBJECTIVE 2: Implement new solutions
3. Pilot trials and deploy solutions
4. Build flexible ship capabilities and relevant infrastructure
OBJECTIVE 3: Finance projects
5. Develop green financing mechanisms
6. Develop mechanisms that could support carbon pricing
7. Act as a custodian for and deploy research and development funds and grants
OBJECTIVE 4: Collaborate with partners
8. Multiply local, regional, and global collaboration across stakeholders
9. Set up a decarbonisation centre
In a speech on April 19, Transport Minister Ong Ye Kung said the Maritime Port Authority (MPA) is tasked to set up the decarbonisation centre.
"One proposal by the panel is to establish a global maritime decarbonisation centre in Singapore, where a cluster of like-minded stakeholders can coordinate, drive, and catalyse maritime decarbonisation solutions. I think this is a worthwhile, strategically important initiative," Ong said.
The MPA has signed a memorandum of cooperation on the maritime decarbonisation centre with the BW Group, Sembcorp Marine, Eastern Pacific Shipping, Ocean Network Express, Foundation Det Norske Veritas and BHP. These private sector partners will contribute $10m to support the establishment of the centre, fund maritime-decarbonisation-related research and technology development projects and collaborate with institutes of higher learning and research institutes.
A memorandum of understanding was also signed with investment giant Temasek to explore colaborations related to decarbonisation of port operations, development and use of low-carbon and/or alternative marine energy sources and decarbonisation of the other parts of the global and regional maritime supply chain, with the company and members of its porfoloio.
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