Shipping Leaders and Green Hydrogen Producers Agree on Ambitious Uptake Targets For 2030 To Enable A Net-Zero Maritime Sector

Shipping sector leaders have committed to scaling up zero-emissions fuel derived from renewables-based hydrogen to nearly 11 million tons by 2030, sending a clear signal to the nascent industry. 

Dubai, United Arab Emirates – December 6, 2023  

Thirty leaders in the shipping sectors – including cargo owners, ship operators, ports, bunkering companies, and equipment manufacturers – signed a Joint Commitment, organized by the UN High Level Champions and RMI, today at COP28 to enable the use of renewable hydrogen-derived shipping fuel this decade to meet maritime industry decarbonization targets. The Commitment includes important targets for fuel use, fleet development, and port infrastructure needed to get the nascent green hydrogen industry to scale.  

To reach targets set out in the International Maritime Organization (IMO)’s 2023 Strategy, adopted by 175 member states earlier this year, the average ship’s greenhouse gas intensity will need to be reduced by 86% by 2040. Achieving this requires large-scale and rapid growth in the use of zero or near zero-emission fuels, of which green hydrogen-derived fuels like ammonia and methanol will play a crucial role. Legally binding international regulations that enter into force in 2027 will require the use of low-emissions fuels. 

“For a general shipping company such as MOL, there is no single solution for vessel fuel. We will promote the adoption of optimum fuels including hydrogen, ammonia and any other potential green fuels for each business on the premise of achieving net zero in 2050 and our interim milestones,” said Takeshi Hashimoto, CEO at Mitsui O.S.K Lines, Ltd. (MOL). MOL is one of the world’s leaders in marine transportation. MOL’s fleet, approximately 800 vessels consist of a wide variety of types of ships. “In addition to working on the development and operation of vessels from the perspective of fuel users, we will work with diverse partners to urge upstream players of the fuel supply chain to join our efforts to expand the use of new fuels.” 

As part of the Commitment, green hydrogen producers agreed to produce 11 million tons of the low-emissions fuel for use by the shipping sector by 2030. Longer term, a decarbonized global shipping sector will become one of the largest demand sources for green hydrogen, projected to account for approximately 15 percent of total demand by 2050.  

“In the mission to decarbonize shipping using green hydrogen and derivatives, global collaboration is key. This statement highlights the need for all participants across the value chain to collaborate deeply on both the supply and demand sides. We’re not building big green energy projects; we’re catalyzing change. It’s time for a determined step forward to foster projects that go well beyond current thinking on scale and get us straight onto the scale up fast track,” said Alex Hewitt, CEO of CWP and chair of the Green Hydrogen Catapult

To meet growing demand and enable decarbonized vessels, fuel supply and infrastructure must be present at ports on both sides of shipping routes, a fact that will require significant international coordination and investment.  

“In the Pacific Northwest, we are actively working with our industry partners to catalyze development of a regional market for zero emissions fuels. We see green hydrogen as having significant potential to decarbonize maritime,” said Sam Cho, Port of Seattle Commission President. “Green corridors focusing on cruise to Alaska and cargo with the Republic of Korea are already underway. A critical next step is to look beyond our own port, and to ensure that our strategies align with future planning and investment in fuel supply in our region and around the world.” 

Ports and ports’ enablers have added their support for the Call to Action, committing to invest in infrastructure and safety projects to support re-fueling of ships with green hydrogen and its derivatives. 

Rasmus Bach Nielsen, Global Head of Fuel Decarbonization for Trafigura, said: “We will only achieve the deep decarbonization of shipping by switching to zero-emission fuels derived from renewable-based hydrogen.  As one of the world’s largest charterers of vessels, the commitments we are making alongside others should encourage investment by ports and port enablers serving shipping routes to invest in the necessary infrastructure. This in turn will help further incentivize the production of green hydrogen and hydrogen-derived fuels for use in shipping.” 

Keld R. Demant, CEO of Bunker Holding Group, said: “As the world’s largest bunker supplier, Bunker Holding Group fully supports the IMO GHG Strategy for decarbonizing the shipping industry. We contribute by partnering with alternative fuel producers, and handle trades and logistics related to the last mile delivery. But to succeed, all industry stakeholders along the value chain need to stand together.” 

Equipment manufacturers also joined as signatories, committing to support research and development efforts to further green hydrogen-based fuel deployment in the maritime sector. 

“Regardless of what other future-fuels eventually come into play, green hydrogen and green fuels derived from it will undoubtedly play a major role in all scenarios. At MAN Energy Solutions, we strongly believe that shipping is the ideal enabler for a hydrogen ramp-up, consuming as it does around 300 million tons of conventional fuels annually,” said Uwe Lauber, CEO of MAN Energy Solutions. “Currently, our subsidiary – H-TEC SYSTEMS – is building a manufacturing facility for PEM electrolysis stacks for green hydrogen, which will add to the necessary scaling and market for zero-emission fuels. We are happy to add our voice to the growing alliance pushing for marine decarbonization.” 

Signatories called on governments to follow suit and support private sector collaboration with ambitious fuel standards and clean fuel mandates. To date, 41 governments have formulated national hydrogen strategies, many of which specifically address the shipping sector. Further action is needed to align and commit to well-to-wake emissions accounting, creating an enabling policy environment for verifiable low-emissions fuels. 

“In support of our collective actions we call on the IMO and member States to adopt a GHG pricing mechanism, a levy, as the most appropriate mechanism to achieve a just and equitable transition, among other measures. Collective action and cross sector cooperation is vital to make sure that shipping’s zero emission transition happens smoothly and quickly,” Nielsen at Trafigura said. 

Demant of Bunker Holding Group added: “To stimulate the demand and supply of zero or near-zero fuels, IMO should adopt pricing incentives as well as requirements for alternative fuels. Regulatory insurance is a prerequisite for the necessary investment in production, infrastructure, and new vessels.” 

Media Inquiries please contact: 

Alexandra Jardine Wall, Strategic Communications Manager, RMI. E: 

Notes to Editors 

About RMI 

RMI, founded as Rocky Mountain Institute, is an independent nonprofit founded in 1982 that transforms global energy systems through market-driven solutions to align with a 1.5°C future and secure a clean, prosperous, zero-carbon future for all. We work in the world’s most critical geographies and engage businesses, policymakers, communities, and NGOs to identify and scale energy system interventions that will cut greenhouse gas emissions at least 50 percent by 2030. RMI has offices in Basalt and Boulder, Colorado; New York City; Oakland, California; Washington, D.C.; and Beijing. More information on RMI can be found at or follow us on Twitter @RockyMtnInst  

About MAN Energy Solutions 

MAN Energy Solutions enables its customers to achieve sustainable value creation in the transition towards a carbon neutral future. Addressing tomorrow’s challenges within the marine, energy and industrial sectors, we improve efficiency and performance at a systemic level. Leading the way in advanced engineering for more than 250 years, we provide a unique portfolio of technologies. Headquartered in Germany, MAN Energy Solutions employs some 14,000 people at over 120 sites globally. Our after-sales brand, MAN PrimeServ, offers a vast network of service centres to our customers all over the world. 

About the Port of Seattle 

A highly diversified public port, the Port of Seattle owns and operates some of the Pacific Northwest's most essential infrastructure, including Seattle-Tacoma International Airport (SEA), and maritime industrial facilities for commercial fishing, cruise, and recreational boating. The Port owns marine cargo terminals through its partnership in the Northwest Seaport Alliance. The Port of Seattle’s promotes economic opportunities and quality of life by advancing trade, travel, commerce, and job creation in an equitable, accountable, and environmentally responsible manner. 

About Bunker Holding Group 

Bunker Holding Group is the global leader in purchasing, selling, and supplying marine fuel and lube oil as well as providing risk management and other vital services for the shipping industry. The company operates via more than 1,668 ports worldwide and is present in 32 countries with 62 offices and more than 1,650 skilled employees. 

COP Event: Green Shipping & Green H2 Implementation Lab - Accelerating Decarbonization of the Shipping Sector with Hydrogen-Based Fuels 

December 6, 2023 

Description: The event will be a moderated roundtable discussion focusing on the convergence around the top 3 actions needed to move Shipping Green Corridors from feasibility to implementation as recommended in the 2023 Shipping Green Corridors Progress Report.  

Date: Wednesday, December 6, 2023 

Time: 1:00-2:00 p.m. GST 

Location: Al Shaheen Implementation Lab, Blue Zone, COP28, Dubai, UAE 

COP Event: Clearing the Last Mile: Opportunities for Supplying Zero-Emission Fuels at Ports

December 5, 2023 

Description: This event will unveil initial findings on the cost and ability for key ports to supply the zero-emission shipping fuels of the future by 2030 from a forthcoming study undertaken by RMI and GMF under the flag of the Zero-Emission Shipping Mission. 

Date: Tuesday, December 5, 2023 

Time: 11:25 a.m.-12:15 p.m. GST 

Location: State of Green Pavilion, Blue Zone, COP28, Dubai, UAE 

COP Event: Trading Hydrogen to Bolster Energy Security 

 December 5, 2023 

Description: A conversation with Catapult CEOs and EU policy makers to discuss announced export plans, and energy security benefits in building up a successful hydrogen import market. 

Date: Tuesday, December 5, 2023 

Time: 4:45-5:45 p.m. GST 

Location: Business Pavilion Auditorium, Blue Zone, COP28, Dubai, UAE 

Press Release  

The coalition of industry first movers onboards three new members leading green hydrogen projects for use in shipping and industrial sectors. 

Boulder, CO – March 20, 2023 

The Green Hydrogen Catapult, an international coalition launched in 2020 with the convening support of the UN’s High-Level Climate Action Champions and nonprofit RMI, marked its two-year anniversary with the announcement of three industry leaders joining its ranks: Hy Stor Energy, Power2X and ReNew. 

The Green Hydrogen Catapult’s goal is to promote the build out of 45 Gigawatts of green hydrogen capacity by 2026 to decarbonize key parts of the global economy. Produced from renewable energy sources like solar and wind, green hydrogen has the potential to rapidly and cost-effectively decarbonize the most carbon-intensive industries where electrification is not an option, including in fertilizer, steel and chemical production, as well as heavy-duty trucking, shipping and aviation.  

The Catapult’s founding members include ACWA Power, CWP Global, Fortescue Future Industries, H2 Green Steel, Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, and Yara. 

“The production of green hydrogen is critical to accelerate our energy transition and its prospects are compelling, particularly in India where alternative energy is growing. We are honored to be part of the Green Hydrogen Catapult alongside others who understand the opportunities in green hydrogen for decarbonization,” said Sumant Sinha, CEO of ReNew. “We have agreements in place to further develop green hydrogen capacity and are eager to continue working to make this energy source a cost-effective solution.”   

“Power2X is passionate about the decarbonization of the hardest-to-abate sectors where the adoption of green hydrogen at industrial scale is critical. In April 2022, we announced our first major green hydrogen development in Sines, Portugal, and we are working on an exciting pipeline of green hydrogen project developments globally,” said Occo Roelofsen, founder and CEO of Power2X. “By joining the Green Hydrogen Catapult, we will be even better positioned to help develop the green hydrogen that is needed for a sustainable energy system. We look forward to working together with our fellow members to realize the Catapult’s ambition.” 

Successfully establishing a completely new industry requires collaboration and early commitment across the full supply chain, which is why the members of the Green Hydrogen Catapult will spearhead hydrogen hub development as an inclusive approach, allowing other companies to engage and contribute, and have chosen RMI to facilitate the process. 

An example of a successful approach is the Mississippi Clean Hydrogen Hub. Laura Luce, CEO of Hy Stor Energy emphasized that “the salt caverns along the Mississippi River constitute a world-class resource with vast expansion capacity for renewable hydrogen storage, which is critical for energy security, resilience, and security of large-scale hydrogen supply. The caverns have access to critical shipping and logistics corridors, including the Mississippi River and deep-water ports in the Mississippi Gulf to serve the growing domestic and global hydrogen market.” 

“In 2023, the Catapult will continue to push the envelope, combining RMI’s cutting-edge analysis with the Catapult members’ on-the-ground insights to make change through new business models, cross-sector agreements, and market education. We are very excited to have new members Hy Stor Energy, Power2X and ReNew bring their expertise and experience to this collaboration,” said Oleksiy Tatarenko, who is a Senior Principal at RMI acting as the Green Hydrogen Catapult coalition coordinator. 

About RMI 

RMI, founded as Rocky Mountain Institute, is an independent nonprofit founded in 1982 that transforms global energy systems through market-driven solutions to align with a 1.5°C future and secure a clean, prosperous, zero-carbon future for all. We work in the world’s most critical geographies and engage businesses, policymakers, communities, and NGOs to identify and scale energy system interventions that will cut greenhouse gas emissions at least 50 percent by 2030. RMI has offices in Basalt and Boulder, Colorado; New York City; Oakland, California; Washington, D.C.; and Beijing. More information on RMI can be found at or follow us on Twitter @RockyMtnInst.  

About Hy Stor Energy 

Hy Stor Energy is facilitating the transition to a fossil-free energy environment by developing and advancing renewable hydrogen at scale through the development, commercialization, and operation of renewable hydrogen hub projects. The company defines green hydrogen as that only that of which has produced from renewables -- as set forth by the Green Hydrogen Assembly. Large, fully integrated projects produce, store, and deliver 100% carbon-free, energy, providing customers with safe and reliable renewable energy on-demand. Developed as part of an integrated hub, these projects couple on-site renewable hydrogen production with integrated long-duration storage and distribution – using scale to reduce costs. Hy Stor Energy, led by energy storage industry and hydrogen technology veteran Laura L. Luce, has an innovative team with deep expertise and is positioned as a leader in the renewable hydrogen revolution. For more information, please visit

About Power2X 

Power2X develops large scale new energy assets and infrastructure with a focus on green and blue hydrogen projects to decarbonize industrial value chains. This also includes projects related to green ammonia, methanol and other derivatives such as clean fuels. Power2X has a growing team of circa 50 professionals and is headquartered in Amsterdam, the Netherlands. It has a development pipeline of several large scale projects in various stages of development. In addition, Power2X also acts as a consultant for energy transition and project development for industrial companies and investors. More information at 

About ReNew  

ReNew is the leading decarbonisation solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew's clean energy portfolio of ~13.4 GWs on a gross basis as of December 31, 2022, is one of the largest globally. In addition to being a major independent power producer in India, we provide end-to-end solutions in a just and inclusive manner in the areas of clean energy, green hydrogen, value-added energy offerings through digitalisation, storage, and carbon markets that increasingly are integral to addressing climate change. For more information, visit  and follow us on LinkedInFacebookTwitter and Instagram