THE International Chamber of Shipping has announced plans to address the challenge of decarbonisation at a summit this year.

The ICS has said it would work with partners to convene shipowners, ministers, maritime, energy and infrastructure leaders to identify a tangible path to decarbonise the shipping sector.

The announcement follows discussions with governments during COP26, which highlighted the need for leaders across the entire value chain to actively pursue a green energy transition.

“We have heard many words and commitments over the past year but there has been very little real action,” ICS chairman Esben Poulsson said.

He said the board has decided to mark the ICS’s centenary with the gathering of industry leaders and policymakers to agree on a path “based on reality and not just wishful thinking”.

“Change is only going to come if we engage beyond our usual processes,” Mr Poulsson said.

“Industry needs clarity, but political and investment risk is at an all-time high.

“If we are to break the deadlock and scale the actions, we need to come together to shape a future that works for all.”

Former UK shipping minister Nusrat Ghani said the summit will build on the success of the Shaping the Future of Shipping conference at COP26, which indicated shipping leaders are aligned on the need for action.

“There is a great deal of work to be done and industry and governments must come together and collaborate to rapidly accelerate the steps needed for shipping to decarbonise,” she said.

Ms Ghani will chair the summit, which will take place in London on 21 June this year.

“I am delighted to be moderating the Shaping the Future of Shipping summit, that will enable leaders from maritime, governments and across the supply chain, to create the vital solutions needed to achieve a zero-carbon maritime industry.”

The agenda will focus on identifying practical steps toward designated solutions, such as investing in research and development, identifying and prioritising the most viable fuel choices for shipping, and ensuring a just transition needed to achieve net-zero by 2050.

The ICS board said it hopes the summit can act as an antidote to the “lack of ambition” some governments have shown toward developing regulation and financing shipping’s decarbonisation.

To achieve a fair and equitable transition, ICS will work with governments at the summit to progress effective regulation at a global level.

Incoming ICS chair Emanuele Grimaldi said the ICS is convening experts and leaders capable of turning talk into action.

“We are less than thirty years away from 2050 and we have no time to waste,” he said.

“As highlighted at the Shaping the Future of Shipping Conference in Glasgow, we will only know whether the shipping industry’s efforts are a success when the transition is underway in earnest.

“This meeting of minds from maritime and across industries and governments in June will be a decisive point in shipping’s green transition.”