December 7, 2022

Norway joins the New Green Marine Hub initiative at COP27

Yesterday, the governments of Panama, Uruguay and Norway endorsed the CEM-Hubs initiative to provide green fuels and support decarbonization efforts. The announcement was made today at COP27, the United Nations Climate Change Conference held this year in the Egyptian resort of Sharm el-Sheikh on the Red Sea.

The Clean Energy Marine Hub Initiative (CEM-Hubs) is a public-private initiative endorsed by the International Chamber of Shipping (ICS) to accelerate the production, export and import of low-carbon fuels across the world. The announcement came a week after Maersk warned that oil companies were holding back efforts to decarbonise the shipping industry by failing to provide affordable green fuel.

“The scale of the global decarbonization challenge is enormous, and the maritime sector must accelerate the use of green fuels and technologies,” said a representative from Norway. “By seizing the chance to work with ports, shipowners and energy suppliers, we and other governments at the COP are sending a clear signal to others that there are opportunities for action.”

Also read: US and Norway ‘challenge’ maritime sector to cut emissions

The three governments join the United Arab Emirates and Canada, which were the first to join the CEM-Hubs initiative when it was announced at the Clean Energy Ministerial in Pittsburgh earlier this year. The initiative hopes to catalyze investment in the marine infrastructure needed to transport zero- and low-emission fuels from producer to consumer.

By 2050, the shipping industry hopes to transport more than 50% of all marketed carbon-free fuels. However, according to ICS, there are currently almost no active projects that practically demonstrate this; for example, only one ship in the world fleet is capable of transporting liquefied hydrogen.