The $1bn question

This article is part of a series written by people across shipping in response to this question about how to deploy a hypothetical TradeWinds Sustainable Shipping Fund:

How, where and why would you invest $1bn for the best return in sustainable shipping, as the industry grapples with the need to cut carbon emissions, improve efficiency and keep cargoes moving in a world facing multiple economic and political challenges? The investment will be made now and ideally held for the next seven years to the end of the decade. As an added bonus, give one policy or regulation you would like to implement from 1 January 2023 to benefit shipping?

If I were to use the funds, I would like to take the initiative to build up sustainable green energy, zero-emission generation and supply system to supply, if not for the entire Yokohama port, then at least for the energy consumption of APM Terminals Yokohama.

This would include:

1) Inviting third-party consultancy services to plan and carry out a feasibility study on a solar or wind power plant at a nearby or convenient location;

2) Collaborating with authorities for support on land and regulations, etc;

3) Accelerating electrification of equipment at the terminal, and gaining understanding and cooperation from external stakeholders;

4) Deepening our understanding on the best available solutions together with manufacturers to nail down the choice;

5) Conducting a business-case scenario focused on sustainability.

The policy I would like to see implemented from the start of 2023 would recognise those enterprises in shipping and port sectors that have initiatives to become self-sufficient in green energy and to subsidise their efforts. This policy can be governmental and intergovernmental.

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