MOSCOW (MRC) -- A coalition of 19 countries including Britain and the United States have agreed to create zero emissions shipping trade routes between ports to speed up the decarbonization of the global maritime industry, reported Reuters with reference to officials involved.
Shipping, which transports about 90% of world trade, accounts for nearly 3% of the world's CO2 emissions.
U.N. shipping agency the International Maritime Organization (IMO) has said it aims to reduce overall greenhouse gas emissions from ships by 50% from 2008 levels by 2050. The goal is not aligned with the 2015 Paris Agreement on climate change and the sector is under pressure to be more ambitious.
The signatory countries involved in the 'Clydebank Declaration', which was launched at the COP26 climate summit in Glasgow, agreed to support the establishment of at least six green corridors by 2025, which will require developing supplies of zero emissions fuels, the infrastructure required for decarbonization and regulatory frameworks.
"It is our aspiration to see many more corridors in operation by 2030," their mission statement said.
Britain's maritime minister Robert Courts said countries alone would not be able to decarbonize shipping routes without the commitment of private and non-governmental sectors.
US Transportation Secretary Pete Buttigieg said the declaration was "a big step forward for green shipping corridors and collective action".
Other signatory countries are Australia, Belgium, Canada, Chile, Costa Rica, Denmark, Fiji, Finland, France, Germany, Republic of Ireland, Japan, Marshall Islands, Netherlands, New Zealand, Norway and Sweden.
As MRC wrote before, ExxonMobil last Wednesday offered to lease 500,000 acres off the Texas coast, securing space for what could become a massive project to capture and store carbon emissions. Under pressure by investors to address climate change, Exxon in April floated an up to USD100 B industry hub to collect planet-warming emissions from Gulf Coast petrochemical plants and bury them under the Gulf of Mexico.
Besides, ExxonMobil said earlier this month it is on track to meet its 2025 emissions reduction targets by the end of this year - four years earlier than planned - and has vowed to ramp up investments to further cut emissions.
We remind that ExxonMobil plans to build its first, large-scale plastic waste advanced recycling facility in Baytown, Texas, and is expected to start operations by year-end 2022. By recycling plastic waste back into raw materials that can be used to make plastic and other valuable products, the technology could help address the challenge of plastic waste in the environment. A smaller, temporary facility, is already operational and producing commercial volumes of certified circular polymers that will be marketed by the end of this year to meet growing demand.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.