The global maritime sector stands at the cusp of a transformative shift as it moves towards the use of alternative fuels, a change compelled by the critical need to reduce carbon emissions.
This shift, while rife with technical and economic difficulties, opens up distinctive opportunities in business and law that must be carefully navigated and explored. Stakeholders must assess and evaluate commercial and financial implications of adopting new energy sources, operational costs associated with consumption, and the potential for economies of scale.
A global roadmap is crucial for the seamless transition into the widespread and commercial use of alternative fuels, encompassing the creation of 'green and digital shipping corridors' for ships to ensure a just and equitable transition. While this shift poses environmental challenges such as CO2 -equivalent emissions from fuel production, spillage risks, and various forms of pollution, there are also opportunities to provide net-zero pathways that are critical to address climate change, and develop robust legal and commercial frameworks to manage these issues.
The SCMA Distinguished Speaker Series (DSS) 2024 will spotlight these new business opportunities and legal issues. Globally, regulatory bodies and international organisations are also working collaboratively to support maritime decarbonisation and the energy transition. DSS 2024 promises to be an essential forum for maritime stakeholders to convene, share insights, and develop collaborative thought leadership towards addressing one of the most pressing issues of our time.
