MARITIME industry leaders are preparing for the Shaping the Future of Shipping summit at COP28 in the United Arab Emirates.

The maritime industry, energy sector representatives, governments and other stakeholders will convene at the summit.

It is the largest gathering of its kind on the COP28 agenda, according to the International Chamber of Shipping.

Shaping the Future of Shipping will build on discussions at COP28 to determine a course for the industry and provide recommendations to both the COP28 presidency and the International Maritime Organization.

ICS anticipates cross-sectorial discussion on ambitious, practical and actionable solutions to advance infrastructure, fuel availability, financing, and set out how to prepare the maritime workforce to accelerate the transition to a low and zero carbon emissions economy.

“All plans for decarbonisation cannot happen without shipping,” ICS chairman Emanuele Grimaldi said.

“For the world to decarbonise shipping needs to not only have a seat at the table but also be a part of the conversation.

“In order to meet our decarbonisation goals, it is essential that all stakeholders work together across the value chain in order to collaborate to ensure practical and plausible solutions are agreed to the challenge we face ahead.

“We need to act now, and this important summit will be key to unlocking a sustainable and equitable future for all.”

Global Centre for Maritime Decarbonisation CEO Lynn Loo highlighted a forecast from the International Renewable Energy Agency that at least 50% of all traded low carbon fuels will be transported by shipping by 2050.

“This points to the critical link between the energy and transport sectors as we navigate the energy transition,” she said.

“The Shaping the Future of Shipping Summit at COP28 will bring together leaders and stakeholders of both the energy and transport sectors to work cooperatively and collaboratively towards meeting IMO’s decarbonisation goals of 2050 and indicative checkpoints of 2030 and 2040.”

Lloyd’s Register CEO Nick Brown said industry has an opportunity to harness operational efficiency, optimise performance and invest in the existing fleet of vessels.

“Our collective success on responding to the challenge ahead will depend on our ability to collaborate with stakeholders from across the maritime value chain to embrace the opportunities afforded by the energy transition,” he said.

“Shaping the Future of Shipping at COP28 will be a key forum for engaging with policy makers and international leaders to evaluate the urgent actions required to deliver on the rapidly approaching 2030 targets of a reduction in the total annual GHG emissions from international shipping by at least 20%, striving for 30%.”

The flagship maritime event will be held on the 10 December at the Museum of the Future in Dubai under the patronage of the United Arab Emirates Ministry for Energy and Infrastructure.

The event is organised by a coalition of maritime industry bodies and co-ordinated by the ICS in partnership with the Emirates Shipping Association.

COP28 will run from 30 November until 12 December 2023.