To make the decarbonization of the maritime shipping sector successful, the coming three decades will need to see a fundamental shift towards zero carbon energy sources. This implies a need for significant investments into new fuel production, supply chains, and a new or retrofitted fleet.
At least USD 1 trillion in investments needed to decarbonize shipping, the scale of cumulative investment needed between 2030 and 2050 to achieve the IMO target of reducing carbon emissions from shipping by at least 50% by 2050, is approximately USD 1-1.4 trillion, or on average between USD 50- 70 billion annually for 20 years. This estimate should be seen in the context of annual global investments in energy, which in 2018 amounted to USD 1.85 trillion.
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