Wärtsilä Oyj : Wärtsilä joins Global Industry Alliance to support low carbon shipping

Wärtsilä and a group of environmentally conscious maritime industry players have signed up to a new Global Industry Alliance (GIA) to support transitioning shipping and its related industries towards a low carbon future.

Although the maritime transport is already by far the most energy efficient mode of transport on a per ton-mile basis, there remain substantial opportunities to improve shipping's environmental performance and achieve further savings in fuel consumption through the uptake of technical and operational measures.

Together, the thirteen GIA partners will collectively identify and develop innovative solutions to address common barriers to the uptake and implementation of energy efficiency technologies and operational measures. GIA operates under the auspices of the GloMEEP Project, a Global Environment Facility (GEF)-United Nations Development Program (UNDP)-International Maritime Organization (IMO) project aimed at supporting developing countries in the implementation of energy efficiency measures for shipping.

GIA will be a pioneering initiative and should result in a paradigm shift in how an international regulatory body and industry join hands to address emissions from ships and support a transition to a low carbon future, thereby also benefiting the developing regions in addressing this issue.

It is suggested that the GIA focuses on five priority areas of collaboration:

1. Energy Efficiency Technologies (EETs) and Operational Best Practices
2. Alternative Fuels and Energy Carriers
3. Digital Transformation
4. Finance
5. Human Element

The GIA will be initially established for a duration of two years. The GIA was officially inaugurated 29 June at a launch ceremony held at the headquarters of the IMO.