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Welcome, Green Marine coZEV welcomes ten new members to support green shipping
December 4, 2023, by Fatima Bahtić
Cargo Owners for Zero Emission Vessels (coZEV) has just added ten new members to its roster. The newest climate-leading companies, including Mondelēz International, Pledge, Reckitt, and REI Co-op. Flexport, Meta, Nestle, Royal Coffee, Standing CT, and Trek Bikes. are joining the coZEV 2040 Ambition Statement, aiming to transition all of their ocean freight to vessels powered by ZE fuels by 2040. As a result, 35 freight buyers are now working together to drive ambition and action toward ZE ocean transport.
coZEV recently announced these additional company partners at COP28 in Dubai as part of the Green Shipping Challenge. This is a joint initiative between the United States and Norway that aims to help put the shipping sector on a path this decade that is aligned with the goal of limiting global temperature rise to 1.5°C .
Furthermore, the Zero Emission Maritime Buyers Alliance (ZEMBA) has welcomed the addition of four new members: Mondelēz International, Pledge, Reckitt, and REI Co-op, bringing the total to 26 members. These global players are working to fast-track commercial deployment of ZE shipping services at scale and create a competitive market for these services through the ZEMBA-facilitated forward procurement process.
In September 2023, ZEMBA launched its first Request for Proposals (RfP) for emissions reduction associated with 600,000 twenty-foot containers (TEUs) over a three-year period on ocean vessels powered by ZE fuels. This is expected to help ZEMBA members reduce nearly 1 million tonnes of carbon emissions, and equates to avoiding the emissions of four Ultra Large Container Vessels each transporting 270 million TEU-miles per year of deployment. ZEMBA is currently evaluating qualified bids and a winner of the first ZEMBA tender will be announced in spring 2024.
Originally launched ahead of COP26, the coZEV 2040 Ambition Statement has been a historic collective signal of cargo owner support for a transition to ZE solutions on a 1.5℃ aligned trajectory and remains the most widely adopted and ambitious 1.5℃ aligned collective private sector-led maritime decarbonization goal to date. Join the 19 existing signatories and state your intention to only use ZE ocean transport by 2040. Read more about it here.
“This year, the maritime industry has demonstrated progress towards a zero-emission future through new investments in dual fuel vessels and at ports, offtake agreements for more climate-friendly fuels, and signals from policymakers of renewed interest in policy support for the nascent ZE shipping market. The work being done by climate-leading freight buyers engaged with coZEV, including policy engagement and ambition signaling, is a critical step forward to creating a more sustainable future. Read more about these initiatives by clicking the link below.