UMAS joins GMF-led consortium in new $1m partnership with global network P4G
The new P4G Getting to Zero Coalition Partnership builds on the Getting to Zero Coalition, which unites more than 130 public and private organizations and has been endorsed by Governments in 14 countries.
UCL Energy Institute, as part of a consortium led by Global Maritime Forum, along with World Economic Forum, Friends of Ocean Action, International Association of Ports and Harbors, and Environmental Defense Fund, have partnered with the global network P4G to identify tangible business and investment opportunities in green energy projects that can propel maritime shipping’s decarbonization and contribute to sustainable and inclusive growth in developing and emerging economies.
Dr Tristan Smith, Associate Professor at the UCL Energy Institute and Director of UMAS: "It is crucial that developing countries are leaders of shipping’s decarbonisation. This will need public-private multi-stakeholder dialogue to ensure that all circumstances are considered both in SIDS and LDCs and the countries this project will study.The P4G Getting to Zero Coalition Partnership will explore how it can accelerate shipping’s green transition while taking into consideration the technological and economic impact on trade and opportunities for developing states, to ensure access to affordable, reliable, sustainable and modern shipping for all"
The Getting to Zero Coalition is a partnership between the Global Maritime Forum, the Friends of Ocean Action, and the World Economic Forum. Its focus is to bring together leading stakeholders from across the maritime and fuels value chains with the financial sector and others committed to making commercially viable zero emission vessels a scalable reality by 2030.
P4G – Partnering for Green Growth and the Global Goals 2030 – invests in over 50 public-private partnerships with projects in developing countries. It is a collaborative partnership among 12 partner countries - Bangladesh, Chile, Colombia, Denmark, Ethiopia, Indonesia, Kenya, Mexico, the Netherlands, the Republic of Korea, South Africa and Vietnam.
The organisation is funded by the governments of Denmark and the Netherlands and other partner organisations include C40 Cities, Global Green Growth Institute, International Finance Corporation, United Nations Global Compact and the World Economic Forum.
Commenting on the new partnership between P4G and the Getting to Zero Coalition, P4G Global Director Ian de Cruz said: "Investing in abundant untapped renewable resources can be one of the most effective measures in reaching net zero by 2050 in order to avoid serious impacts of climate change."