A P4G Getting to Zero Coalition Partnership study by Ricardo and Environmental Defense Fund explores the economic and environmental potential for the implementation of zero carbon shipping fuels through the shipping sector of South Africa.
Due to the country’s location, economic development and vast renewable energy sources, South Africa holds an untapped opportunity to supply the global shipping industry with zero carbon fuels. The production of green hydrogen-derived fuels can help to meet decarbonization targets and act as a catalyst for the country’s economy – opening new export markets, supporting an equitable transition, and creating the jobs of the future.
The new P4G Getting to Zero Coalition Partnership brings together Global Maritime Forum, World Economic Forum, Friends of Ocean Action, International Association of Ports and Harbors, Environmental Defense Fund, and University College London Energy Institute. The Partnership explores Indonesia, Mexico and South Africa to identify tangible business and investment opportunities in green energy projects that can propel maritime shipping’s decarbonization and contribute to sustainable and inclusive growth in developing and emerging economies.
NOTE: This report has been revised from its original publication to reflect corrections in shipping energy demand and subsequent investment potential for infrastructure to support 5% adoption of zero carbon vessel technologies by 2030.