The International Advisory Panel on Maritime Decarbonisation (IAP) was formed in July 2020 by the Singapore Maritime Foundation (SMF), with the support of the Maritime and Port Authority of Singapore (MPA).
The IAP’s vision is for Maritime Singapore to support decarbonisation of the industry to meet or exceed the International Maritime Organization’s (IMO) goals for 2030 and 2050. To achieve this, the IAP has recommended focusing on four strategic objectives: (1) harmonise standards; (2) implement new solutions; (3) finance projects; and (4) collaborate with partners. Supporting these objectives are nine pathways to decarbonisation, as shown in Table 1.
Table 1: The IAP recommends four strategic objectives and nine pathways to decarbonisation
|HARMONISE Standards||IMPLEMENT New Solutions||FINANCE Projects|
|1. Shape common metrics for carbon accounting
2. Set standards for new technologies and solutions
|3. Pilot trials and deploy solutions
4. Build flexible ship capabilities and relevant infrastructure
|5. Develop green financing mechanisms
6. Develop mechanisms that could support carbon pricing Act as custodian for and deploy R&D funds and grants
|COLLABORATE with Partners|
|8. Multiply local, regional and global collaboration across stakeholders
9. Set up a decarbonisation centre
The panel is co-chaired by Mr Andreas Sohmen-Pao, Chairman of the Singapore Maritime Foundation, together with Mr Wong Weng Sun, Chairman of the Board and Governing Council of the Singapore Maritime Institute. It comprises 28 other leaders from maritime and related organisations, including shipping associations, shipping companies, port operators, energy companies, engine makers, shipyards, insurance and finance players, as well as academia.
The IAP has consolidated their recommendations and identified joint projects to embark on in a report, which you may access here
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