Chevron Collaborates to Reduce Maritime Emissions

By Chevron | May 16, 2022

Chevron is joining the Global Centre for Maritime Decarbonisation (GCMD), a nonprofit organization working to eliminate greenhouse gas (GHG) emissions in the maritime industry.

why it matters

Decarbonizing shipping is challenging because the sector is energy-intensive and, so far, lacks lower carbon solutions. As a fuel producer, supplier and end user, Chevron will bring the GCMD valuable experience while we work to advance our shared lower carbon ambitions.

what our people are saying

“Lowering the carbon intensity of shipping requires fundamental changes across the entire maritime value chain,” says Chevron Shipping Company president Mark Ross. “This is a truly complex task that requires industry-wide collaboration, innovation, and well-designed policy. GCMD brings together knowledge and expertise to help meet this challenge.”

by the numbers

In 2018, the International Maritime Organization (IMO) announced a target of halving annual GHG emissions from international shipping by 2050 compared to 2008 levels.

background

We launched our Chevron New Energies (CNE) division in 2021 with the goal of accelerating lower carbon businesses. As part of this strategy, CNE is focusing on customers in energy-intensive sectors like shipping.

more on that

Through our CNE division, we will support the GCMD’s efforts to develop scalable lower carbon technologies for maritime transport.

A key focus area is ammonia, which has an energy density comparable to fossil fuels. Energy density is the amount of energy stored in a given amount of space per unit volume. Ammonia is energy-dense and has the potential to be a scalable lower carbon alternative for the maritime sector in the future.