Ninety percent of the world's trade travels by sea on a fleet of over 100,000 ships that account for 3 percent of global CO2 emissions. Like many other industries, shipping has enjoyed great expansion in the last few decades and relied heavily on fossil fuel consumption. Today, new challenges face the industry, most notably a likelihood that oil prices will rise. This is especially important for shipping, where design and future forecasting are crucial because fleets are built for the long term.The Sustainable Shipping Initiative is made up of a group of industry leaders along with the World Wildlife Fund and Forum for the Future to identify solutions that will allow the industry as a whole to become more sustainable and ready itself for the future.
Their Vision for 2040 lays out particular industry goals which include reducing their carbon footprint, improving worker safety and wellbeing and developing financial incentives to reward sustainable performance, among others.
To learn more about Learn about the Sustainable Shipping Initiative and their Vision 2040 click here and for a recent article from Guardian Sustainable Business highlighting the initiative and other projects pushing the shipping industry forward click here.