The concept of making the shipping industry more environmentally friendly has been a priority for businesses for many years. During the current COVID-10 pandemic, this issue comes into the spotlight even more. Although the coronavirus has had horrible, devastating effects on the population and economy during the past few months, the impact on the environment was positive. With fewer commuters, hindered global travel and logistics, and generally decreased human activity, people have noticed a significant environmental impact.
According to estimates from the CarbonBrief, the decreased demand for fuel and power can cause emissions to drop by nearly 400 million tonnes in 2020. For now, some countries admit lowered CO2 levels by as much as 40%, which is a substantial improvement in the air quality. For many, this reduction has shown that there is a positive effect in decreasing global power and fuel consumption. The lives that have been lost, unemployment, and other terrifying results of this pandemic can’t justify the environmental benefit, but now it is clear that even a small adjustment can make an impact.
Although the shipping industry isn’t the largest polluter across the transportation industry, it is still a contributor, accounting for 2.5% of greenhouse gas emissions globally. Every year, more and more transportation companies adopt technology to reduce fuel consumption, optimize the usage of resources, and make sustainability their priority. At this point, it is no longer an option for global companies to be unconcerned with environmental issues.
According to the United Nations Sustainable Development Goals 2020, the goal is to cut international greenhouse emissions by 50% by 2050. So, the shipping industry has still a long way to go, although some progress is already happening. With the current situation, businesses have witnessed a drastic fall in oil prices and how vulnerable and fragile the global markets actually are.
The thing about business sustainability, especially in the shipping industry, is that companies care not just about the environment or social responsibility, but also about their profit. Sustainability has to be profitable for those who adopt it, otherwise it won’t work on the global level. And these solutions exist, when you search for proper tools that can be both profitable and useful for the environment. The future of sustainable shipping is about balance, awareness, and action.