Industry Leaders Talk Carbon Economics, Emerging Value Chains

A capacity crowd attended the third annual ABS Sustainability Summit, where industry leaders discussed shipping’s most pressing questions about carbon economics and the hydrogen and carbon value chains.

ABS hosted the summit — the first in-person event in the series — ahead of the global trade fair for Shipbuilding, Machinery and Marine Technology (SMM), bringing together key industry voices with firsthand experience in tackling maritime’s decarbonization challenges.

The summit brought together representatives from Boston Consulting Group, Hapag Lloyd, Berenberg, the European Commission’s Directorate-General for Mobility & Transport and Watson Farley & Williams to discuss how carbon economics and pricing will shape the decarbonization of shipping. Later, leaders from Mitsubishi Heavy Industries, Maersk, Wartsila and Schiff & Hafen discussed the interconnection between the emerging hydrogen and carbon value chains and their role in achieving near-term emissions goals.

“Increasingly we are seeing pressure from both consumers and supply chains to adopt sustainable business practices, influencing investments and driving competition,” said Vassilios Kroustallis, ABS Senior Vice President, Global Business Development. “At the heart of these business practices is the push to decarbonize not only vessel operations but also the associated value chains. Sustainable business practices are quickly becoming a key component of success for business globally. As we move toward a decarbonized economy, shipping will play a key role during that transition. From the application of innovative technologies to enabling the scaling of alternative fuels and the build-up of the associated infrastructure, shipping, in all its forms, will help lead the global energy transition.”

“We are proud to have been able to assemble today’s cross-section of leaders who provided such excellent insights on the global energy transition and how maritime is playing a key role in delivering it,” said Georgios Plevrakis, ABS Vice President, Global Sustainability. “ABS will continue to work with our clients to drive solutions-oriented approaches to help the industry meet its decarbonization goals.”