With the impending MEPC 76 meeting in June, many of the headlines over the last month appear to be concentrated on the topic of decarbonisation, alternative fuels and related matters. In mid-May, the Paris-based International Energy Agency (IEA) published its 'Net Zero by 2050: A Roadmap for the Global Energy Sector' report and caused something of a stir. The report is a look at all global energy use and not confined to shipping. Its finding that no new fossil fuels should be used and all funding for new oil, gas and coal supply projects must stop today if the world is to reach net zero emissions by mid-century caused consternation on land and at sea with many politicians and analysts beginning to question the whole decarbonisation narrative. The report did recognise that shipping along with aviation, steel and cement manufacture, and heavy duty road vehicles would be the hardest sectors of all to decarbonise. It also said that shipping was responsible for 830 million tonnes of CO_2 emissions globally last year, down from 880 million tonnes in 2019. The IEA is forecasting emissions from shipping will decline by 6% annually to 120m tonnes of CO_2 in 2050.
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