Setting High Ambition
The Cargo Owners for Zero Emission Vessels (coZEV) 2040 Ambition Statement (initially launched in October 2021) was the first ever collective signal of cargo owner support for transitioning to (ZE solutions on a 1.5℃ aligned trajectory, specifically stating that signatory companies intend to only use ZE ocean transport by 2040. With nearly 30 signatories, it is also the most widely adopted 1.5℃ aligned private sector maritime decarbonization ambition to date. The statement also includes the first call for policy action by a group of freight buyers, acknowledging that decarbonization of this sector requires strong public and private sector action at multiple levels.
Since that time, freight buyers also now have the opportunity to participate in the Science Based Targets Initiative (SBTi) Maritime Transport guidance, the first science-based framework to support companies in the maritime transport sector to set near- and long-term science-based targets in line with a 1.5°C-aligned transition
To learn more, download the coZEV 2040 Ambition Statement.
Learn more about SBTi’s maritime guidance.
Maritime Book & Claim
As zero-emission shipping services come to market, it is highly unlikely that these services will deploy exactly where and when each ZEMBA member company needs to move ocean freight. The ability to decouple physical freight movement from willingness to pay a premium for transparent, verified emissions reduction is essential to accelerate the transition in this sector. Doing so enables us to tap into freight buyer leadership anywhere in the world to support the most scalable and sustainable solutions, regardless of where those solutions are physically deployed.
The development of rigorous, verifiable book and claim chain of custody system(s) will play a key role in accelerating the early phases of the clean energy transition in shipping and other hard-to-abate sectors. ZEMBA is supporting the Maersk Mc-Kinney Møller Center for Zero Carbon Shipping and RMI on the design of the first nonprofit maritime book & claim system: Katalist. ZEMBA members will use the Katalist system to book and claim the emissions reductions generated from ZEMBA’s inaugural tender.
Learn more about Katalist.
Carbon Accounting
Without credible book and claim approaches, demand for zero-emission solutions in hard-to-abate sectors like maritime shipping will be severely stifled, slowing the clean energy transition at a time in history when it must be accelerating. Sectors like maritime shipping require the use of book and claim systems to transparently verify and track environmental attributes certificates, to bring new fuels and technologies to scale. Appropriately accounting for these emissions reductions in corporate GHG inventories and toward Scope 3 targets will be essential to build confidence in these new markets.
For this reason, ZEMBA is working with partners at the Center for Green Market Activation, which leads the Advanced and Indirect Mitigation (AIM) Platform, to ensure that credible Scope 3 emissions reductions through book and claim systems will be supported under various carbon accounting and target-setting frameworks, including the Science Based Targets initiative (SBTi) and Greenhouse Gas Protocol (GHGp).
Among the services we provide, ZEMBA will also offer our members specific guidance on how exactly to apply evolving carbon accounting rules to ZEMBA specific procurements of maritime environmental attribute certificates.
Learn more about the AIM Platform.
Maritime Decarbonization Policy
ZEMBA’s forward procurement processes and role engaging with the broader carbon accounting and corporate sustainability communities provides essential real-world insights to inform the development of ambitious global decarbonization policy, including by the International Maritime Organization (IMO) which is the global regulatory body for shipping. The Aspen Institute, which serves as ZEMBA’s secretariat, regularly works to share the lessons learned through ZEMBA’s tender processes to support the IMO and other regulatory bodies. This includes domestic agencies in key geographies, particularly around the development of robust lifecycle assessment guidelines and regulatory measures as well as incentives that can close the cost gap for scalable zero-emission(ZE) fuels and accelerate their production and deployment.
Catalyzing decarbonization in the maritime sector will require the creation of credible, transparent measures that provide sector-wide certainty, verifiable GHG reductions, and a level playing field for climate leaders across the value chain. ZEMBA can support this by providing credible real-world evidence to policymakers of the feasibility of adopting ZE solutions and help bolster policymaker confidence in private sector support for the maritime clean energy transition.
