Countries join Clean Energy Marine Hub Initiative aimed at accelerating the production and deployment of green shipping fuels around the world

Three more governments have joined a cross-sector initiative to speed up the supply of green shipping fuels at port hubs, it was revealed today at the COP27 climate talks in Egypt.

Panama, Uruguay, and Norway have signed up to the Clean Energy Marine Hub Initiative (CEM-Hubs) joining the UAE and Canada which announced their involvement at the Clean Energy Ministerial in Pittsburgh earlier this year.

The public-private initiative aims to de-risk investment in and accelerate the production, export and import and commercial deployment of low-carbon fuels which are currently two to three times more expensive than fossil fuels.

CEM-Hubs is coordinated with the support of the International Chamber of Shipping (ICS) and the International Association of Ports and Harbours (IAPH), plus the Clean Energy Ministerial (CEM).

The announcement came as part of the Green Shipping Challenge launch event at the world leader’s summit of COP27.

Led by the US and Norway, the Green Shipping Challenge aims to bring together governments, ports, maritime carriers, shipowners and cargo owners to find decarbonisation solutions.

The public-private initiative aims to de-risk investment in and accelerate the production, export and import and commercial deployment of low-carbon fuels which are currently two to three times more expensive than fossil fuels.

CEM-Hubs is coordinated with the support of the International Chamber of Shipping (ICS) and the International Association of Ports and Harbours (IAPH), plus the Clean Energy Ministerial (CEM).

The announcement came as part of the Green Shipping Challenge launch event at the world leader’s summit of COP27.

Led by the US and Norway, the Green Shipping Challenge aims to bring together governments, ports, maritime carriers, shipowners and cargo owners to find decarbonisation solutions.

A recent submission to the IMO from ICS called for a ‘fund and reward’ scheme to raise money for first movers who produce and use cleaner fuels to help bridge the gap between various governments’ proposals and to ‘kick start’ acceleration of cleaner energy production.

A spokesperson for the Norwegian government said the initiative hoped to send “a clear signal to others that there are opportunities for action rather than words on offer today.”

Norwegian shipping operators earlier pledged to try to cut emissions by 50% by 2030 as part of the Green Shipping Challenge

Speaking in Sharm El-Sheikh after the announcement, Emanuele Grimaldi, chairman of ICS, said the initiative was crucial because: “A year on from COP26, a great deal is still being talked about the production of hydrogen and other low-carbon fuels, but very little on how this will actually be done.”

Dr Jorge Rivera Staff, national energy secretary of Panama, added that CEM-Hubs aim to help a real and tangible energy transition acceleration in the maritime sector by preparing the path for a green fuel commercial supply chain.

“The future is not expected, it is built; let’s build it together,” he said.