Each section below relates to the TPT Disclosure Framework principles of Action and Accountability. The below provides further guidance for sub-elements 4.1 and 4.3. The TPT welcomes comments on this guidance to ensure it is as useful as possible for preparers and users. The text is open for comment until Friday, 24 November. Please select the feedback form at the bottom of the page. The final text will be updated in February.
This sub-sector consists of the marine transportation and cruise line industries. Marine Transportation industry entities provide deep-sea, coastal or river-way freight shipping services. The industry is of strategic importance to international trade, and its revenues are tied to macroeconomic cycles. Important activities include transportation of containerised and bulk freight, including consumer goods and a wide range of commodities, and transportation of chemicals and petroleum products in tankers. Cruise Lines industry entities provide passenger transportation and leisure entertainment, including deep sea cruises and river cruises. A few large entities dominate the industry. Cruises provide a luxury resort experience for thousands of passengers at a time.
1. Enhance infrastructure and technological advancements3,4,5
- develop ports with infrastructure supporting low-GHG emissions fuel refuelling (e.g., green methanol, hydrogen, and battery charging stations);
- implement slow steaming strategies to reduce fuel consumption on longer routes; and
- retrofit vessels with energy-efficient technologies (e.g., hull redesigns, air lubrication systems, propulsion).
2. Increase operational and demand efficiency3,4,5
- adopt digital solutions for real-time navigation and route adjustments based on weather and sea current data; AMD
- employ digital solutions for efficient loading and unloading of cargo to minimise vessel idle times.
3. Scale the use near-zero / low-GHG emissions fuels and alternative propulsion technologies3,4,5, 6
- invest in vessels capable of utilising low-GHG emission fuels and alternative propulsion technologies (e.g., hybrid vessels, wind, battery-power, etc.);
- use of sail or kite propulsion systems to assist in propulsion; and
- invest in green ammonia, green methanol, and zero-emission hydrogen.
4. Encourage an intermodal shift to low-GHG-intensive options for freight and passenger transport 7
- encourage intermodal transportation solutions using a combination of sea, rail, and road in the most efficient manner; and
- collaborate with peers in the supply chain to pool shipments.
5. Invest in human capital development 7
- educate and train captains and crews on eco-navigation, maintenance of low-GHG emissions propulsion systems, and advanced route planning techniques.
- share of low-GHG emissions vessels’ current and planned;2
- percentage of total fuel consumption that is from zero-emission fuels;1,2
- average fleet age and operational lifetime of vessels;1,2
- percentage of annual revenue generated from low-GHG emissions products or services;1
- fleet locked-in emissions from reporting year to 2050;2
- emissions Intensity expressed as gCO2e per tonne-nautical mile (gCO2e/tnm);4,11
- for vessel owners/operators, intensity targets Scope 1 and Scope 3, and for cargo/logistics service providers, this should cover relevant Scope 3 categories; 2, 4, 9, 10, 11
- target boundary: SBTi recommends targets should be set on a well-to-wake basis.4,5,10
Marine Transportation Literature
- CDP Global,Climate Change 2022 Reporting Guidance, 2022
- CDP Worldwide & ADEME, Assessing Low-Carbon Transition: Transport, 2021
- Getting to Zero Coalition & UMAS, A Strategy for the Transition to Zero-Emission Shipping, 2021
- International Renewable Energy Agency, A Pathway to Decarbonise the Shipping Sector, 2021
- IEA, ETP Clean Energy Technology Guide, 2022
- IEA, International Shipping Tracking Report, 2022
- International Maritime Organisation, Initial IMO Strategy on Reduction of GHG emissions from Ships, 2018
- IFRS, [Draft] Industry-based Guidance on Implementing IFRS S2, 2022
- Science Based Targets initiative (SBTi), Maritime Science-based Target Setting Guidance, 2021
- Smart Freight Centre,Global Logistics Emissions Council (GLEC) Framework for Logistics Emissions Accounting and Reporting, 2019
- Transition Pathways Initiative (TPI), Carbon Performance Assessment of Shipping: Note on Methodology, 2021
The TPT welcomes comments on the Sector Summary to ensure it is as useful as possible for preparers and users. The Sector Summary was open for comment until Friday 24 November and, following consideration of the feedback received, will be updated in February. Thank you to the industry experts who provided comments.