BCG survey shows that green ambitions are high!

Snic 2023 Seng Chiy Goh

Boston Consulting Group (BCG) will present the results of the inaugural Global Maritime Decarbonisation Survey at SNIC 2023 – Innovate to Zero. The survey was conducted in collaboration with the Global Centre for Maritime Decarbonisation (GCMD). 

BCG highlights four key levers to achieving maritime decarbonisation: 

  • Operational efficiency levers
  • Technological efficiency levers
  • Transition and future fuels
  • Shipboard carbon capture

In the industry there exists three different archetypes: frontrunners, followers and conservatives. Frontrunners can be defined as innovators leading the way, followers follow others’ actions, and conservatives prioritise traditional practices. 

The survey shows that the maritime industry sets its course towards a more sustainable future, with a growing awareness of the importance of decarbonisation.

While the maritime sector is still in the early stages of its sustainability journey, the survey points to respondents looking to invest in green initiatives, as well as establishing long-term sustainability plans. In summary, 73% of the respondents view net zero as a high priority, 77% have set concrete decarbonisation targets, and 87% have set a roadmap or started on one. According to these statistics, green ambitions are high. 

As the maritime industry sets its sights on a more sustainable future, one of the solutions being explored is shipboard carbon capture (SBCC) – a technology that could significantly reduce greenhouse gas emissions from ships and industries. One of the pressing questions at SNIC is:

  • Carbon capture: How to make carbon capture a viable solution for ships and industry?

Moreover, the majority of respondents recognise SBCC as an essential tool, acknowledging its potential to revolutionise the industry’s carbon footprint. However, there are clear differences in plans to adopt. The frontrunners among shipowners plan to start pilots as early as 2025, whereas the followers and conservatives only plan to adopt when commercially available (estimated to be 2030). Ultimately, the critical factors that influence adoption include solution performance, cost-effectiveness, and the availability of supporting infrastructure. Hence, collaborative efforts and investments in research and development will be vital to overcoming these challenges. 

Don’t miss out on SNIC 2023! We are grateful that Seng Chiy Goh, a Principal from Boston Consulting Group, will present the survey’s main findings. Furthermore, the topic will be a root for discussion. Join us, stimulating innovation and discovering new business opportunities within the green shift.

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