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The Cargo Owners for Zero Emission Vessels (coZEV) has informed Bunkerspot that the number of global brands signed up to its 2040 Ambition Statement to accelerate maritime shipping decarbonisation has now more than doubled to 19.

In a statement sent to Bunkerspot today, coZEV said that the new members are: Beiersdorf, Dupont, Electrolux, ETTLI Kaffee, Moose Toys, Ohana Beverage Company, Philips, REI Co-op, Sisley, and Target.

They have joined the existing signatories, who include: Amazon, Brooks Running, Frog Bikes, IKEA, Inditex, Michelin, Patagonia, Tchibo, and Unilever.

Launched in October 2021, coZEV has focused on demonstrating the business case for investment in scalable zero-emission fuels and technologies capable of achieving full maritime industry decarbonisation on a Paris-aligned trajectory.

Commenting on the initiative’s progress, Dan Porterfield, President and CEO of the Aspen Institute (which has been facilitating the coZEV initiative), said: ‘In less than a year, coZEV has changed the narrative surrounding decarbonization in maritime shipping. Through coZEV, cargo owners are kickstarting a clean energy transition in this critical industry, and the Aspen Institute is proud to support them and help enable their success.’

Ingrid Irigoyen, Director of coZEV and the Aspen Shipping Decarbonization Initiative, which is an initiative of the Aspen Institute’s Energy and Environment Program, added: ‘Support for maritime decarbonisation has grown swiftly in just a short time due to the bold, climate-leading companies that are making their climate ambitions as freight customers clear to maritime carriers, fuel producers, ports and other value chain actors.

Irigoyen said that although the maritime decarbonisation journey is ‘still in its early stages’, the past year has shown that ‘cargo owners can drive impact quickly when they come together’.

Today’s official announcement from coZEV includes comments from all the new signatories – of which this quote from Amanda Nusz, Senior Vice President of Corporate Responsibility for Target and President of the Target Foundation, is representative: ‘Partnering with coZEV is a natural extension of our work to co-create solutions that deliver growth and positive impact across industries. We are committed to being a net zero enterprise by 2040, with net zero emissions across both our operations and supply chain. Joining coZEV is an important part of accelerating our work to create a more sustainable, circular supply chain that furthers the health of our business and the global community.’

Irigoyen signed off today’s statement by calling for further action. ‘If we are to see a vast global fleet of zero-emission vessels on the water by 2040, we need accelerated investment in that transition today,’ said Irigoyen. ‘This growing roster of coZEV 2040 signatories that represent a wide range of industries, boosts our sense of optimism that we can eliminate the climate impact of even the hardest to abate sectors. But first mover action in this space isn’t enough. We’re hopeful that global and regional policy action, such as the recently passed Inflation Reduction Act in the United States, the ongoing discussions in the European Union on their Fit For 55 policy, and the upcoming International Maritime Organization meetings, provide concrete policy wins that match cargo owners’ ambition to achieve the clean energy future we all deserve.’

Taylor Goelz, the Program Manager for the Shipping Decarbonization Initiative at the Aspen Institute, and Jesse Fahnestock, Head of Research and Analysis for the Global Maritime Forum, write about green shipping corridors and the coZEV initiative in the October/November issue of Bunkerspot magazine, which will be published next week.

Related Reading: 

GLOBAL: Industry coalition aiming to switch all ocean freight to ships powered by zero-carbon fuels by 2040


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