Towards zero: Denmark’s push to decarbonise global shipping by State of Green

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TOWARDS ZERO

Denmark's push to decarbonise global shipping

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TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

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TOWARDS ZERO Denmark’s push to decarbonise global shipping Version 1.0 November 2023 Front page photo Danish Shipping Editor in Chief Magnus Højberg Mernild, mhm@stateofgreen.com Contributor Danish Shipping Design Essensen Download this publication Download this and other publications at stateofgreen.com/publications For more information To order copies of this publication or receive more information about other related publications, please contact State of Green at info@stateofgreen.com

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Content

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

A seafaring nation at the forefront of green shipping

Propelling the global deployment of offshore wind energy

Partnerships for a swift and global application of renewable fuels

White paper: Green hydrogen is Danish hydrogen

Unleashing the potential for carbon capture and storage projects

Sound of Green: A world’s first in CO2 storage

Shipping as a lever for green jobs and livelihood opportunities

Decarbonising the existing world fleet through energy efficiency

Ensuring a just, equitable and green transition

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4 PHOTO: ODENSE PORT

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A seafaring nation at the forefront of green shipping Building on longstanding maritime traditions, Denmark is committed to accelerating the global transition towards climate-neutral shipping and finding ways to overcome regulatory, financial, technological, and political barriers.

Every fifth minute, a Danish-operated ship calls at a port somewhere in the world contributing to global connections and keeping world trade flowing. In collaboration with governments and organisations, Denmark is proactively working for timely and ambitious regulations that can slash global greenhouse gas emissions to achieve the International Maritime Organization’s (IMO) goal of reaching climate neutrality by around 2050 in alignment with the Paris Agreement.

The Danish shipping industry has set an ambitious goal to achieve climate-neutral shipping by 2050, without relying on compensation measures

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

Industry-led initiatives to decarbonise shipping The Danish shipping industry has set an ambitious goal to achieve climate-neutral shipping by 2050, without relying on compensation measures. As part of this journey, the industry aims to ensure that at least 5 percent of its fleet is capable of running on well-to-wake net zero emissions using green hydrogen or other e-fuels by 2030. As such, all new ship orders placed by Danish shipowners in 2030 are required to be fit out for net zero-emission fuels or other zero-emission propulsion methods. Underscoring the position as a seafaring nation at the forefront of green shipping, Danish ambitions go beyond its own borders by seeking to spur new business opportunities and create new avenues for job creation, reskilling, and decoupling of economic growth from overall energy consumption. In this vein, Denmark brings forward more than five decades of expertise in energy efficiency and practical learning as a global pioneer in

harnessing energy at sea. This is demonstrated by the industry’s dedicated efforts to building and servicing offshore wind parks across the globe alongside a proactive pursuit of developing solutions such as carbon capture, transport and storage (CCTS), and carbon capture, transport, and utilisation (CCTU). This publication presents how Denmark as one of the world’s largest shipping nations pursues a rapid uptake of commercially viable solutions towards climate-neutral shipping while ensuring a just transition.

→ Every fifth minute, a Danish-operated ship calls at a port somewhere in the world.

→ By 2030, all new Danish vessels will be fit out for net zero-emission fuels or other zero-emission propulsion methods.

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Propelling the global deployment of offshore wind energy From oil and gas extraction in the North Sea to pioneering commercial wind power, the Danish shipping industry brings forward 50 years of hands-on experience in performing complex operations at sea.

In 1972, Denmark started a systematic exploration of oil and gas resources in the North Sea. Two decades later, as the shift from fossils to renewables gained pace, Denmark was the first country in the world to build an offshore wind farm. Today, a global leader in the offshore wind industry, Denmark, the International Renewable Energy Agency (IRENA), and the Global Wind Energy Council (GWEC) founded the Global Offshore Wind Alliance (GOWA), where a large group of countries agreed to a rapid ramp-up of global offshore wind capacity to at least 380 GW by 2030. In Europe alone, the Baltic Sea is estimated to have an offshore wind potential of 93 GW, whereas the North Sea’s inherent potential is underpinned by its neighbouring countries' aim to harvest 300 GW of wind energy by 2050.

Unlocking this immense capacity in Europe’s two largest basins for offshore wind deployment and across the world’s oceans requires unprecedented collaboration between governments and industries. In realising the rollout and ensuring that communities are supplied with clean electricity to develop local economies and boost industrial growth, the Danish shipping industry brings forward 50 years of hands-on experience in complex operations at sea.

As the global demand for clean energy leads to a shift from oil and gas extraction to harnessing offshore wind power, specialised shipping operators and vessels are crucial

Expertise across the value chain As the global demand for clean energy leads to a shift from oil and gas extraction to harnessing offshore wind power, specialised shipping operators and vessels are crucial. Offshore wind vessels and partners provide the trans portation of service technicians, crews, foundations, building materials, turbines, and substations out to sea. However, they facilitate not only transportation but also the installation. Industry players, such as Cadeler and Maersk Supply Service, have revolutionised the offshore wind industry by offering expertise in all aspects from farm construction and maintenance to decommissioning. Amongst other innovative methods, Maersk Supply Service has designed and commissioned a first-of-its-kind Wind Installation Vessel (WIV) making installations of

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bottom-fixed offshore wind turbines up to 30 percent faster than the conventional jack-up method. Looking ahead, the maritime transportation and services sector remains central in all phases of the offshore wind farm life cycle as well as in the generation of new fuels and expansion to new markets.

300,000,000 The world's 100,000 commercial vessels consume around 300 million tonnes of fuel every year. The shipping industry alone would require the totality of today’s wind capacity for the production of renewable fuels.

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

7 PHOTO: ØRSTED

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Partnerships for a swift and global application of renewable fuels With international collaboration being key to maturing the global market for green hydrogen and renewable fuels, Danish first movers are paving the way for rapid application.

Shipping accounts for nearly 3 percent of worldwide greenhouse gas emissions. As demand for global freight increases, maritime trade volumes are set to triple by 2050, thus heightening the pressure to chart the course for more efficient and sustainable sea transport. Turning the tide against ships that pollute both sea and air, the Danish adventure on green hydrogen has already left the harbour. Today, nearly all hydrogen production is based on fossil fuels such as coal (brown hydrogen) or natural gas (grey hydrogen). Using renewables instead of fossils to produce fuel contributes to significant emission reductions. In Denmark, the focus is on producing hydrogen and hydrogen derivatives using only renewable energy, making Danish hydrogen exclusively green. Comprising a merchant fleet of 760 vessels as of January 2023, the Danish shipping industry is a key offtaker and industry partner in establishing a global hydrogen market that supports the national commitment to decarbonise hardto-electrify sectors.

Public-private partnerships to move clean energy solutions from lab to market Alongside the United States, Norway, Global Maritime Forum, and Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, Denmark is co-leading the ZeroEmission Shipping Mission, accelerating public and private efforts around the world to make a zero-emission fleet a reality by 2030. The mission aims to develop, demonstrate, and deploy zero-emission fuels, ships, and fuel infrastructure in a coordinated fashion along the full value chain, with tangible targets: • By 2030, ships capable of running on hydrogen-based zero-emission fuels, such as green hydrogen, green ammonia, green methanol, and biofuels, should make up at least 5 percent of the global deep-sea fleet measured by fuel consumption.

• By 2030, at least 200 of these well-to-wake zeroemission fuelled ships should be in service and utilising these fuels across their main deep sea shipping routes. Indicating the design of the future fleet, Laura Mærsk docked in the Port of Copenhagen in September 2023 after her maiden voyage on green methanol. Sailing under Danish flag, the world's first methanol-powered container ship symbolises the entrepreneurial spirit that has characterised Maersk and Danish shipowners for decades. Built as a dual fuel container feeder ship in Hyundai Mipo Dockyard in South Korea, Laura Mærsk is a proof point that when an industry unites through determined efforts and partnerships, tangible solutions toward net zero emerge.

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DISCOVER

Green Shipping Corridors One way to accelerate decarbonisation is to implement Green Corridors. Green Corridors are specific trade routes between major port hubs where zero-emission solutions are supported by means of favourable conditions for decarbonisation by allowing policymakers to create and enable an ecosystem with targeted regulatory measures, financial incentives, and safety regulations. Green Corridors ideally encompasses the entire value chain, including fuel producers, shipowners, and regulatory authorities. A key objective is to provide offtake certainty to fuel producers and send strong signals to vessel operators, shipyards, and engine manufacturers to increase investments in zero-emission shipping and reduce risks for all involved. Providing useful tools for governments and companies interested in the development, members of the ZeroEmission Shipping Mission launched its Green Corridors Hub at the Danish Pavilion at COP26 in Glasgow.

Learn more about the Green Corridors Hub

PHOTO: LAURA MÆRSK, THE WORLD'S FIRST METHANOL-POWERED CONTAINER SHIP

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

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CASE

Green Fuels for Denmark Green Fuels for Denmark is a unique partnership between Copenhagen Airports, A.P. Moller-Maersk, DSV, DFDS, SAS, and Ørsted, with COWI as a knowledge partner. The partnership focuses on developing ground-breaking hydrogen and green fuel production facilities. Green Fuels for Denmark will be a key project in developing sustainable fuels for aviation and shipping, contributing significantly to Denmark’s goal of reducing CO2 emissions by 70 percent by 2030. The fully scaled facility will reduce annual CO2 emissions by 850,000 tonnes. The project aims to decarbonise heavy transportation by producing sustainable fuel holding the potential to replace more than 270,000 tonnes of fossil fuel consumption per year by 2030. This is equivalent to a 1.77 percent reduction in Danish CO2 emissions. To do this, a 1.3 GW electrolyser powered by 2-3 GW offshore wind will be established. Once scaled, Green Fuels for Denmark can supply the transportation sector with more than 250,000 tonnes of green fuels each year, including enough e-kerosene to cover 30 percent of Copenhagen Airport’s pre-pandemic fuel consumption.

Discover the case at stateofgreen.com

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White paper Green hydrogen is Danish hydrogen The white paper 'Green hydrogen is Danish hydrogen' offers a comprehensive deep-dive into Denmark's plans to use hydrogen to decarbonise global transportation and energy-intensive industries.

This white paper takes the reader chronologically through the value chain for green hydrogen and presents how and why Denmark is geared to accelerate the fuel shift and decarbonise global transport and energy-intensive industries – offering a roadmap for others to be inspired by the pursuit of a greener future. Get a full overview of how hydrogen can produce green fuels for transport and industry, create value for electricity supply and the electricity grid, and deliver heat for district heating – provided the input is green energy. Featuring insights from 78 national and global partners, the white paper highlights collaborative learnings en route to decarbonising hard-to-electrify sectors and paving the way for widespread green hydrogen application.

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

DISCOVER

White paper: Green hydrogen is Danish hydrogen This white paper provides insights from Denmark's push to decarbonise transport and energy-intensive industries through green hydrogen.

Discover the white paper at stateofgreen.com

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Unleashing the potential for carbon capture and storage projects Home to a range of pioneering companies and shipowners in the offshore sector, Danish competencies can help unleash the global potential for new carbon capture and storage (CCS) projects.

Amongst Europe’s first movers on commercial-scale CO2 storage, the Danish CCS sector can play a significant role in mitigating climate change. Denmark’s total subsoil storage potential is estimated between 12 and 22 billion tonnes of CO2, which is 400-700 times greater than Denmark's total annual CO2 emissions at current levels. With the potential being largely offshore, the Danish part of the North Sea is a prime location for CO2 storage for industrial clusters across Europe.

400-700

Denmark’s total subsoil storage potential is estimated 12 and 22 billion tonnes of CO2, which is 400-700 times greater than Denmark's total annual CO2 emissions at current levels.

In contributing to the EU’s goal of climate neutrality by 2050, an estimated 550 million tonnes of CO2 need to be captured per year, with up to 300 million tonnes of CO2 expected to be stored. In the draft of the Net-Zero Industry Act (NZIA), the European Commission has set a target of 50 million tonnes of annual CO2 storage capacity by 2030.

strides in global CO2 reductions through carbon capture, while comprising the maritime capabilities for transportation. Additionally, there is optimism in terms of the continuous technological advancements in carbon utilisation, as the industry is expected to emerge as a significant part of achieving the 2050 net zero target.

Danish shipowners are ready to play a crucial role in the capture, storage, and, most importantly, transportation of CO2, thus contributing to the ambitions of making Denmark a hub for CO2 storage. In this regard, Danish competencies are well-placed to handle the transportation of CO2 as well as servicing the fields designated for storage.

To achieve a reduction of at least 3.2 million tonnes of CO2 emissions by 2030, the Danish Government is accelerating the development of carbon capture and storage (CCS) technology. This commitment is demonstrated by the government's novel proposal, which outlines a structured plan for CCS tenders with a substantial budget of EUR 3.59 billion (DKK 27 billion). This significant investment has been divided into two sizeable allocations, with each aiming to capture a minimum of 0.9 million tonnes, and up to 1.4 million tonnes of carbon annually.

With adequate political support and widespread acceptance, Denmark has the potential to make significant

To foster alignment of interests, the proposal includes a provision for a 20 percent state ownership stake in future

Collaborative efforts to unleash CCUS ambitions

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storage licenses. This approach creates a close tie-up between public and private stakeholders, ensuring that the implementation of CCS activities benefits the society at large.

To achieve a reduction of at least 3.2 million tonnes of CO2 emissions by 2030, the Danish Government is accelerating the development of carbon capture and storage (CCS) technology In the wake of recent developments in CO2 taxes, the commercialisation of the market is coming closer. With the potential to play a key role in establishing a costeffective CCUS market, the maritime industry can play a vital role throughout the value chain.

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

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Sound of Green A world’s first in CO2 storage Covering all aspects from green technology advancements to ways of setting up climate partnerships, the Sound of Green podcast explores how Denmark has turned acute climate challenges into new opportunities.

The IPCC, the International Energy Association, and the European Union have all identified carbon capture and storage (CCS) as an important pathway for reducing CO2 emissions and achieving net zero. In the episode 'A world's first in CO2 storage', Sound of Green examines the Danish potential of CO2 storage in Denmark, stop by the world's first cross-border offshore CO2 storage pilot in the North Sea, and talk to Danish Shipping about leveraging strongholds at sea to push advancements across green industries.

LISTEN

Sound of Green: A world's first in CO2 storage Listen to Sound of Green podcast, where experts convey how Danish experiences can push the needle towards global green transition. Scan the QR code or find the episode on your preferred podcast app.

Listen to the episode of Sound of Green

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Shipping as a lever for green jobs and livelihood opportunities After a long history of harnessing energy from wind, gas and oil, Danish stakeholders are creating green jobs and ensuring maritime upskilling as global shipping transitions to green fuels and low-carbon technologies.

Denmark is amongst the world’s leading maritime nations with national companies accounting for approximately one-fourth of Denmark’s total exports. With more than 61,000 individuals directly employed in Blue Denmark and about 36,000 indirect employees, the sector has experienced an average increase in productivity growth of 9.3 percent per year. However, estimates suggest a potential shortfall of 100,000 employees in the broader green sector by 2030, underscoring the imperative for broad collaboration to strike a socio-economic balance and ensure new livelihood opportunities as green industries emerge. During Denmark's decoupling of economic growth from total energy consumption, several sectors have exemplified their capacity to facilitate an equitable transition that aligns with the green agenda. Among these, the wind energy industry stands out prominently.

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

The socio-economic benefits of wind primarily come from onshore wind, as it still covers most of the country’s wind capacity. Meanwhile, offshore wind is growing, and in 2020, the socio-economic effect of offshore wind installations was documented for the first time. The analysis showed that 1 GW of offshore wind energy generates employment equal to 14,600 man-years for Danish suppliers from direct, indirect, and derived job effects. With a national target to add a minimum of nine GW of additional offshore wind capacity by 2030, a significant number of jobs are set to be created in the process. Similar trends have been observed in Danish shipping, with a noteworthy case being Denmark’s leading offshore anchorage, the Port of Esbjerg.

From oil and gas to the gateway of offshore wind energy in Northern Europe With origins tracing back to 1873, the Port of Esbjerg initially served as a vital gateway for the fishing industry. Over time, the port underwent a transformation, evolving into a service hub playing a vital role in supporting Danish oil and gas exploration as well as production activities in the North Sea.

→ Every time one gigawatt of offshore wind is set up in Denmark, 14,600 full-time equivalent jobs are secured in Danish companies.

→ Approximately 1.5 million people are

employed in the maritime sector globally.

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As Denmark increasingly prioritised renewable energy sources after the 1970s energy shock, the Port of Esbjerg found itself amid yet another transformative shift, this time towards wind energy production. This transition necessitated a gradual phasing out of oil and gas-related activities and a dedicated effort to retrain and upskill its workforce, ensuring a fair and equitable transition for its employees. As of 2020, the Municipality of Esbjerg contained approximately 60,000 jobs, with a significant emphasis on the energy sector, constituting around 25 percent of the total employment base.

Additionally, 500 extra jobs are expected to emerge within the maritime industry, directly linked to the transportation of CO2. This assertion gains further credence from an analysis conducted by the think tank Kraka highlighting that ongoing CCUS projects in Denmark are poised to secure a 5 percent share of the market. As the analysis states, this achievement could potentially result in the creation of up to 9,000 new jobs and an estimated economic growth of EUR 670 million (DKK 5 billion).

With decarbonisation of global shipping picking up pace, Denmark is determined to help close the global skill gap by supporting maritime schools and universities in developing educational programmes to include green know-how, digitalisation, and analysis strategies.

CCUS to deliver thousands of new jobs Another portrayal of how a just and equitable transition can be ensured, in conjunction with the transportation sector, is through Carbon Capture, Utilisation, and Storage (CCUS). An analysis conducted by the Danish Metalworkers Union reveals that Denmark has the potential to preserve over 2,500 jobs by repurposing empty oil and gas fields in the North Sea as CO2 storage facilities.

9,000

As the analysis states, this achievement could potentially result in the creation of up to 9,000 new jobs and an estimated economic growth of EUR 670 million (DKK 5 billion).

CASE

Port of Esbjerg: The gateway to offshore wind energy in Northern Europe Port of Esbjerg is the North Sea's leading port for offshore wind, base to Danish offshore industry and an international hub for multimodal transport.

Discover Port of Esbjerg at stateofgreen.com PHOTO: PORT OF ESBJERG

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DISCOVER

The Climate Partnership Blue Denmark Blue Denmark is part of the 14 industry-specific public-private climate partnerships, established by the Danish Government to reduce the country's CO2 emissions by 70 percent in 2030, compared to 1990 levels. Blue Denmark is a collaborative effort that includes shipowners, shipping companies, and numerous associated businesses with a stake in international and Danish maritime activities. This partnership is driven by a shared commitment to developing policies, regulations, and innovative solutions addressing climate-related challenges in close cooperation between industry stakeholders and governmental authorities. Scan the QR code to learn more about Blue Denmark and the Danish Climate Partnerships.

Discover Blue Denmark at climatepartnerships2030.com PHOTO: DANISH SHIPPING

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

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Decarbonising the existing world fleet through energy efficiency Danish shipowners, equipment suppliers and solution providers are actively decarbonising shipping through the development of industry standards, frameworks, and new technologies to improve the world fleet.

The maritime sector plays a pivotal role in meeting global trade and transportation demands. While shipping goods across the world's oceans and seas remains the most cost-effective trade method, the shipping sector is a significant contributor to global greenhouse gas emissions, amounting to roughly 3 percent of global emissions. A key challenge for the shipping industry is, therefore, to improve the existing fleet through energyefficient technologies, measures, and global standards. Technological strengths of the Danish industry build upon a strong maritime heritage. Combined with its commitment to transforming its energy system, Denmark is an ideal hub for technology development and innovation. In fact, the world’s first two-stroke engine capable of running on methanol was designed in Denmark. In securing effective regulatory frameworks, Denmark has taken a proactive stance by advocating for increased regulation within the global shipping industry, herein

proposing comprehensive global targets for reducing carbon emissions. The Danish leadership has resulted in the endorsement of three essential measures by the International Maritime Organisation (IMO) to govern and mitigate carbon emissions in the global shipping sector.

of CO2 emissions by enhancing the energy efficiency of newbuild ships. Amongst like-minded actors, the Danish shipping industry was likewise actively pushing for the inclusion of the Energy Efficiency Existing Ships Index (EEXI), and the Carbon Intensity Index (CII).

A key challenge for the shipping industry is to improve the existing fleet through energy-efficient technologies, measures, and global standards

Both EEDI and EEXI assess the technical efficiency of ship designs by examining theoretical emissions, design characteristics, and onboard equipment. Additionally, CII focuses on evaluating the operational efficiency of vessels, providing an efficiency rating based on reported fuel consumption, emissions, and transport work done within a calendar year. In 2013, the EEDI became the first of these regulations to enter into force and was applied to newbuilds only. Both the EEXI and the CII were introduced on 1 January 2023 and are applicable fleetwide.

Specifically, the IMO has implemented the Danish proposed regulatory measure named the Energy Efficiency Design Index (EEDI) to expedite the reduction

New developments in the industry go hand-in-hand with a great understanding of both ships and engines. This becomes important when retrofitting ships to run

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on methanol instead of diesel where the energy density is lower. Danish marine equipment manufacturers have processes and solutions that enable shipowners to meet regulatory requirements like the Carbon Intensity Indicator (CII) and the Energy Efficiency Existing Ship Index (EEXI). At the fundamental level, these standards pave the way for the adoption of more environmentally friendly fuel sources for vessels, such as green hydrogen and methanol. However, various analyses indicate that these fuel options may come with a notably higher cost. As a result, it is crucial to carefully oversee and optimise every part of a vessel to increase its energy efficiency and reduce energy consumption. For instance, the Danish company Hempel enhances the hydrodynamic performance of vessels through the application of low-friction silicone coatings, which enables vessels to glide through the water and achieve desired speeds while expending less power. The utilisation of innovative coating technologies not only leads to a reduction in fuel consumption but also contributes to a substantial decrease in greenhouse gas emissions. In fact, vessels can achieve savings of up to 6 percent in energy consumption, leading to a 9-month return on investment.

90%

The shipping industry is a critical pillar of the global economy, with about 90 percent of all globally-traded goods ferried around the world by sea.

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

FACTS

Energy efficiency equals cost savings Due to the energy loss in e-fuel production, maximising energy efficiency becomes important. To achieve energy efficiency, various measures can be implemented. In ships, technological improvements such as advanced propulsion and cooling systems, as well as optimised ventilation, can contribute to energy savings. Operational strategies like optimising sailing speed, route planning, reducing port waiting time, and improving space utilisation can also reduce energy use. Reducing the amount of energy needed to produce, store, and transport green fuels minimises production costs, which is crucial to promote the widespread adoption of green fuels in industry and transport, making them competitive alternatives to conventional fossil fuels.

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Ensuring a just, equitable and green transition The International Maritime Organization’s efforts in developing a basket of measures to be adopted in 2025 are crucial for the shipping industry’s path toward climate neutrality. Denmark is pushing for a global pricing mechanism on greenhouse gas emissions as well as fuel standards which will incentivise the uptake of renewable fuels, financially support a just and equitable transition, and reduce the climate footprint from bunker fuels.

Renewable fuels will offer new business opportunities for countries with considerable renewable energy resources. The World Bank estimates that the market for renewable fuels is more than EUR 940 billion (DKK 1 trillion) with several developing countries boasting the potential to become key players in the budding market. Global regulation is crucial to ensure a level playing field and de-risk the investments required to unleash the potential and decarbonise shipping. A catalyst in this regard is adopting a basket of measures building upon fuel standards and pricing mechanisms. Denmark is actively advocating for a pricing mechanism on greenhouse gas emission to incentivise the uptake of the pricier yet more environmentally-friendly renewable fuels. Besides bridging the price gap between cheaper fossil fuels and renewable-based alternatives, a pricing mechanism must provide funding to assist the Least

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

Developed Countries (LDCs) and the Small Island Developing States (SIDS) to ensure a fair and equitable transition. A pricing mechanism needs to be supported by global fuel standards which over time sets increasingly ambitious targets for reducing the climate footprint of fuels. Besides imposing shipping to rethink business as usual, a fuel standard will also send a clear signal that the sector is ensuring a substantial uptake of renewable fuels. As a result, the needed investments will be de-risked, boosting the rollout of hydrogen technologies, infrastructure, and port facilities. Alongside the Danish shipping industry’s advocacy for adopting a basket of measures, Denmark is taking a proactive stance in ensuring additional as well as faster access to climate finance. The dedication is exemplified by the Danish commitment to the Special Climate Change

Fund (SCCF), operating under the Global Environment Facility. Besides securing better and faster access to climate financing, initiatives aim at strengthening adaptation efforts and reducing risks of climate-induced loss and damage for the Small Island Developing States (SIDS) and the Least Developed Countries (LDCs).

760

With shipping-related activities across all continents and 760 vessels sailing under the Danish merchant flag, Denmark plays an essential role in facilitating international trade and ensuring the global supply of food, medicine, technology, raw materials, and a myriad of other vital commodities contributing to economic equity and livelihood opportunities on a global scale.

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22 PHOTO: ØRSTED

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Team up with Danish peers and potential partners

DISCOVER

Solution providers Scan the QR code to find additional solution providers within green shipping, offshore wind, CCUS, renewable fuels and energy efficiency.

Connect with solution providers at stateofgreen.com

TOWARDS ZERO – DENMARK'S PUSH TO DECARBONISE GLOBAL SHIPPING

About State of Green State of Green is a not-for-profit, public-private partnership between the Danish Government and Denmark’s three leading business associations (Danish Industry, Green Power Denmark, and the Danish Agriculture and Food Council). State of Green is your one-stop-shop to more than 600 Danish businesses, agencies, academic institutions, experts, and researchers. State of Green connects you with leading Danish players working to drive the global transition to a sustainable, low-carbon, resource-efficient society. Learn more about State of Green: https://stateofgreen.com/en