ICS identifies new risks for energy transition
Political instability is an underestimated “Risk Multiplier” on the path to a successful green energy transition in maritime, as the International Chamber of Shipping (ICS)'s Maritime Barometer Report 2022-2023 pinned down. The ICS Maritime Barometer Report is an annual survey of risk and confidence among about 130 maritime leaders, about 50% of them shipowners and 35% ship managers. The report indicates "a maturing of the shipping industry’s understanding of the complex implications of the energy transition". Yet, the maritime managers in charge demand for political guidance, since reliance on fossil fuels remains high without global political and regulatory clarity. There is also a significant shift in attitudes towards wind and nuclear power as potential, viable energy sources. Emanuele Grimaldi, Chairman of the International Chamber of Shipping, emphasized the need for government decisions with regards to "key choices regarding supply chain resilience, greenhouse gas (GHG) reduction measures (including carbon pricing, alternative fuel availability and the provision of new onshore bunkering infrastructure)". Besides political instability, financial uncertainty and cyber-attacks were among the top risks identified. (cd) www.ics-shipping.org