Agri-business giant Cargill has launched a major new initiative designed to accelerate the development of emission cutting technologies across the shipping sector.
Dubbed the ‘CO2 Challenge’, the company last week announced it would work with risk management and certification specialist DNV GL and start-up advisor Rainmaking to deliver the R&D initiative.
Businesses and entrepreneurs who have a product in need of commercial assessment, testing, investment, and scaling are being invited to apply to participate in the CO2 Challenge ahead of application deadline of September 17, 2018.
Jan Dieleman, president of Cargill’s ocean transportation business, said the CO2 Challenge was “the start of an exciting journey” for a company that last year set a target to cut emissions from its global dry bulk shipping operations, pledging to cut CO2 per cargo-ton-mile by 15 per cent by the end of 2020.
Dielemen said Cargill is confident it will meet its target, but the new challenge is now “focused on extending that commitment and ability across the industry”.
“By taking this innovative approach, we hope to uncover new technologies, new ideas and new ways of working to help our industry meet the challenge of decarbonization and reduce its impact on global warming,” he added. “Applicants have a unique opportunity to see their product make it onto a vessel and, hopefully, into wider commercial production.”
Under the scheme DNV GL will conduct thorough assessments of the technologies proposed and model potential efficiency gains.
The move follows the latest round of talks at the International Maritime Organisation (IMO) on how to curb emissions from the global shipping sector. The UN-backed body announced a new target to cut shipping emissions 50 per cent by 2050 backed by an interim strategy to curb emissions and introduce new reporting-based measures designed to drive investment in greener shipping technologies and techniques.
However, the group has faced fierce criticism from environmental campaigners who have accused it of failing to deliver a sufficiently ambitious package of policies to tackle rising emissions across the sector.
Trond Hodne, senior vice president, sales and marketing director at DNV GL – Maritime, said the IMO strategy had set emissions targets and new technologies would be key to ensuring they are met, “Initiatives like the CO2 Challenge are an important part of helping our industry reach these ambitious but achievable goals,” he said. “As an industry, we need to explore solutions like zero-carbon fuels, energy efficiency measures, efficient vessel designs, and better ship utilization backed by deep technical knowledge, solid data and analysis. We look forward to working with Cargill and the applicants to realize these goals.”
Source: Business Green