ICS: Significant long term R&D investments needed to reach zero-carbon emissions
A giant scaling up of finance for research and development (R&D) is necessary to achieve zero carbon emissions by 2050, according to report by the International Chamber of Shipping (ICS) and engineering consultancy Ricardo.
To ensure shipping can achieve its ‘4th propulsion revolution’ the study highlights the need for a major scaling up of finance for technology and development in shipping.
Guy Platten, secretary general at the ICS, said: “Shipping has put forward a submission to its UN body for the approval of a US$5bn R&D fund, created solely from contributions by industry.
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