coZEV Policy Goals and Formation of New Cargo Owner Policy Coalition

Climate-leading cargo owners have a vested interest in ensuring that the transition to zero emission shipping is smooth, fast, and economically viable. Robust policy support and regulatory action at the global, regional, and domestic levels is needed in order to foster a zero emission transition that is:

• Economically feasible at scale for cargo owners and other value chain actors

• Confidence building to stimulate necessary investment ZE fuels, vessels, and supporting infrastructure

• Globally equitable

Unfortunately, current policy measures are not yet sufficiently ambitious to support Paris Agreement 1.5°C-aligned decarbonization of the shipping industry.

Policymakers and regulatory bodies must act now to establish clear targets and policies that build confidence and provide unequivocal, implementable, and equitable pathways to fully decarbonize shipping in line with the Paris Agreement 1.5°C trajectory.

Private sector support for ambitious policy measures is essential, and efforts to articulate the economic, national security, technology innovation, human health, and other benefits of a cleaner shipping sector must become central to efforts to educate policymakers, tap into a broader set of interests, and instill a sense of urgency. coZEV is focused on getting cargo owners engaged with policymakers working on the ZE maritime transition at the global and regional level.