Societe Generale global head of maritime industries Paul Taylor discusses the shipping industry’s decarbonisation progress.
The CO2 shipping industry is in the very early stages of development both in terms of technology and investment.
High levels of investment are required and one bank that is supportive of the industry is Societe Generale, whose global head of maritime industries Paul Taylor noted the considerable advancements and notable milestones that have been achieved.
Speaking at the CO2 Shipping & Terminals Conference 2024, Mr Taylor observed the significant progress being made, highlighting the adoption of cutting-edge technologies and initiatives aimed at reducing CO2 emissions.
Despite these achievements, Mr Taylor acknowledged the substantial challenges that remain. He cited regulatory hurdles, technological limitations and financial constraints as the primary obstacles impeding further progress and underscored the necessity for cohesive regulatory frameworks and sustained investment in innovative technologies to overcome these barriers.
Looking ahead, Mr Taylor expressed optimism about the future of decarbonisation in the maritime industry. "The maritime industry is at a critical juncture where technological innovation and regulatory support must converge to achieve meaningful decarbonisation," he said.
source: Riviera news
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