Green technology adoption is on the rise, driving progress towards a more sustainable future.
The Tracker is based on data from various sources including the International Energy Agency (IEA), the European Commission, and the International Renewable Energy Agency (IRENA).
The Importance of Green Technology Tracker
The Green Technology Tracker is a valuable resource for policymakers, businesses, and individuals looking to understand the current state of green technology adoption and investment.
The Rise of LNG Dual Fuel Technology
The popularity of LNG dual fuel technology has experienced a significant surge in recent years, with a substantial increase in the number of vessels being ordered with this technology. As of 2023, 70% of alternative fuelled vessels were ordered, surpassing the 43% share seen in the previous year.
2024 was a record year for the world’s largest LNG carrier, the FSRP, with 4.5 million tons of cargo carried. 2024 was also a record year for the low-carbon shipping industry, with 1.1 million tons of CO2e emissions reduced.
The Rise of Low-Carbon Shipping
A Shift Towards Sustainability
The shipping industry has long been a significant contributor to greenhouse gas emissions, with the International Maritime Organization (IMO) estimating that shipping accounts for around 2.2% of global CO2 emissions. However, in recent years, there has been a growing recognition of the need for the industry to transition towards more sustainable practices. The COVID-19 pandemic has accelerated this shift, as shipping companies have sought to reduce their environmental impact and capitalize on the growing demand for low-carbon fuels.
The Role of LNG Dual Fuel Capable Carriers
One of the key technologies driving this shift is the development of liquefied natural gas (LNG) dual fuel capable carriers. These vessels are designed to run on a combination of LNG and other fuels, such as LPG, ethane, or ammonia, allowing them to reduce their carbon intensity while still meeting the demands of the market.
These technologies have been fitted on ships of various sizes and types, including container ships, tankers, and bulk carriers.
The State of Green Shipping
The shipping industry is one of the largest consumers of energy globally, accounting for approximately 2.2% of global greenhouse gas emissions. As the world shifts towards a more sustainable future, the shipping industry is under increasing pressure to reduce its carbon footprint. In response, the International Maritime Organization (IMO) has set ambitious targets to reduce greenhouse gas emissions from shipping by 50% by 2050.
Energy Saving Technologies (ESTs)
The IMO has recognized the potential of Energy Saving Technologies (ESTs) to reduce greenhouse gas emissions from shipping. ESTs are designed to reduce energy consumption and emissions by optimizing ship performance. Some of the most common ESTs include:
Implementation and Challenges
Despite the potential of ESTs, their implementation has been slow.
