Lending our voice to climate advocacy
The pressure for environmental action and regulation creates the need for even greater collaboration between industry players— not only amongst ship owners and operators but also charterers, banks, and governments. We are active participants in multiple associations working on industry matters, including climate change initiatives. BW Group and its affiliates are a member of—or partner with—the following associations and organisations:
BW Group Chairman, Andreas Sohmen-Pao, was the Chairman of the Singapore Maritime Foundation (SMF) from 2016-2021. Established to forge dialogue and cooperation between private and public maritime stakeholders, SMF works with stakeholders across the entire spectrum of the industry, including the marine, shipping, port, and ancillary services.
Over time, this strong industry support has enabled us to reach out directly to the community for ideas and initiatives that strengthen the maritime ecosystem. SMF outreach activities include industry and scholarship talks and regular networking events for employers and tertiary students. Supported by the Maritime and Port Authority of Singapore, the Singapore Maritime Foundation has established an International Advisory Panel on Maritime Decarbonisation (IAP) to develop a strategy to support the industry in achieving these goals.
“I am pleased we have been able to gather a strong group of industry leaders to develop a holistic strategy on maritime decarbonisation. We have focused our efforts on concrete actions and collaborative initiatives.”
Andreas Sohmen-Pao
The IAP is working on actions to maritime decarbonisation. Recognising that the topic is interdisciplinary, the IAP draws on leaders’ expertise from shipping companies, port operators, academia, class societies, insurance and finance players, energy companies, engine makers, shipyards, shipping associations, and the government. The panel launched its recommendations in April 2021.
One of the key initiatives that came from the IAP’s work is the establishment of a decarbonisation centre in Singapore. BW has made a $10 million contribution towards its establishment. The Centre will drive collaborative initiatives for piloting new solutions, carbon accounting, green financing, and policy matters, amongst others. Founding members include BW Group, BHP, DNV, Eastern Pacific Shipping, ONE, and Sembcorp Marine. Together with contributions from the Singapore government, the centre has an initial capital of S$120 million.
The Global Centre for Maritime Decarbonisation
The Global Centre for Maritime Decarbonisation (GCMD) was formed on 1 August 2021 with funding from the Maritime and Port Authority of Singapore (MPA), and six founding partners, namely BHP, BW, DNV Foundation, Eastern Pacific Shipping, Ocean Network Express and Sembcorp Marine.
Located in Singapore, GCMD was set up as a non-profit organisation to support decarbonisation of the maritime industry to meet or exceed the International Maritime Organization’s (IMO) goals for 2030 and 2050.
Mission
To help the maritime industry eliminate GHG emissions by shaping standards, deploying solutions, financing projects, and fostering collaboration across sectors
Goals
Accelerate the deployment of scalable low-carbon technologies across the maritime ecosystem by validating technical and commercial feasibility
Lower the adoption barriers for low-/zero-carbon fuels and technologies by closing the gaps in infrastructure, safety, operations and financing
Act as a centre of gravity for catalysing and facilitating:
+ between experts within the maritime ecosystem
+ global connections between stakeholders across the value chain
+ dissemination of maritime decarbonisation information and tools
Projects
We invite companies seeking support for the piloting and demonstration of developed solutions for international shipping to submit a whitepaper on the technology and scope of the proposed project. These technologies or systems-level solutions should have demonstrable potential to reduce GHG emissions when deployed at scale across the maritime sector.
GCMD prioritises projects by taking into consideration the technology and commercial maturity or readiness of the solutions. Technologies should have a verified prototype system and be ready for a small scale commercial trial. Examples might include a prototype system/model being produced and demonstrated in a simulated environment.
Deployment of low-/zero-carbon fuels including:
- Biofuels (FAME & HVO / Biomass)
- Bio-methanol
- Bio-methane (Bio-LNG)
- E-ammonia
Alternative energy converters:
- Dual fuel internal combustion engines
- Fuel cells
Technical measures with at least 10% emissions reduction such as:
- Wind-power
- Air lubrication
- Carbon capture and storage (w/ carbon-neutral fuels)
For more information, visit https://www.gcformd.org/
Other Key Industry Collaborations and Initiatives BW is involved in
CLIMMS
A joint industry project to identify pathways for transforming the international shipping sector towards the IMO 2050 goal of 50% reduction in GHG emissions and keeping global temperature rises below 2 °C.
Getting to Zero Coalition
Many of BW Group’s affiliates have joined the Getting to Zero Coalition, an alliance of more than 80 companies within the maritime, energy, infrastructure and finance industry, including key governments and Inter-Governmental Organisations support. The Coalition is committed to getting commercially viable zero-emission, deep-sea vessels into operation by 2030.
White Paper for a Carbon Levy
BW Group formed a working group with BHP, DNB, and DNV GL to propose an industry-wide carbon levy scheme that could support the IMO 2050 GHG reduction ambitions. A transparent carbon levy allows businesses to invest under conditions of greater certainty, and a clear trajectory should influence investment decisions at an early stage. The group will primarily fund R&D, trials, and support technology deployment and scaling and drive decarbonisation in the maritime sector.