The EU “fit for 55 package” puts in place a regulatory framework for reaching the climate targets, and the EU taxonomy puts in place a framework for green investments including shipping. How do we meet the ambitions and fulfil the requirements set out through the fit for 55 package? What will be the role of the cargo owners and ship owners? How do we ensure access to the finance the needed investments for shipping? What are the challenges and opportunities for the sector?
Welcome and introduction
Host: Carl Fhager, Lawyer / Partner, MAQS Advokatbyrå
Introduction: David Kristensson, Group Chief Executive Officer, Northern Offshore Services AB
Keynote speech - World trade, shipping and clean oceans
Trade is at the heart of growth and development, the climate change creates both challenges and opportunity how do we get there from a technological perspective, and how do we finance the transition.
Speaker: Fredrika Klarén, Head of sustainability, Polestar
Keynote speech - A green regulatory framework – fit for 55
The EU Commission has tabled a package of proposals to make the EU's climate, energy, land use, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. Achieving these emission reductions is necessary to deliver on the targets agreed in the European Climate Law and fundamentally transform the European economy and society to meet the UN climate targets. What does this package entail for shipping and global trade? What instruments are suggested to support and progress decarbonization?
Speaker: Magda Kopczynska, Director within the Directorate-General for Mobility and Transport of the European Commission
Panel - Cargo and shipowners
Discussion and responses to the statements from keynote speakers. Most cargo owners are in the process of greening their own production, transports are an integrated part of both the production chain as well as for the distribution chain. What is the view from a cargo owner perspective? How will the changes being made by the cargo owners/producing industry impact the shipping sector? What will be the requirement from cargo owners to shipping companies? How can shipping meet the requirements coming from the cargo owners? Where are shipowners moving and what is needed to move to the next level?
Moderator: Anne H. Steffensen, Director General and CEO, Danish Shipping
Panel participants: Carl-Johan Hagman, CEO, Stena Rederi AB, Niklas Gustafsson, Head of Public Policy & Regulatory Affairs, Volvo Group and Gustav Leifland, Procurement Analyst, Orkla Group.
Panel - State of the art technology and maritime fuels today and tomorrow
Where are we really in terms of available technology, what type of ships and how will these ships bee fueled in a five, ten and twentyfive year perspective? What type of fuels will be available in those time frames? And what will be the cost of new engines and the fuel needed to power shipping into the future? Are there evolutionary steps that we will see in the coming years for shipping? And what horse should a green shipowner bet on in terms of the fuel for the future?
Moderator: Disa Hammarskjöld, Head of business performance & strategy, Stena Rederi AB
Panel participants: Stefan Nysjö, Vice President, Marine Power Solutions, Wärtsilä, Grégoire Hartig Sales Manager Maritime, Gasum, Claes Fredriksson, CEO and founder, Liquid Wind and Jostein Bogen, Vice President, Product Line Manager Electric Solutions, ABB Marine & Ports.
Panel – Financing the green transition
How do we fund the transition for shipping, and how will funds for green investments be made available to the shipping industry? And in particular how do we fund the steps needed from where we are today to where we want to be tomorrow? Is there a willingness from the financial sector to provide capital for all the steps needed for the shipping industry or just the final solution? What can governments do to enable the transition and what type of requirements and definitions will be there to defining what constitutes green shipping? And how will instruments such as the EU taxonomy and Poseidon principles be applied in practice?
Moderator: Anders Hermansson, CEO Swedish Shipowners’ Association
Panel participants: Michael Frisch, COO Danish Ship Finance, Magnus Montan, CEO, SEK, Tommy Johnsen, CEO NOx-fondet and Arne Juell-Skielse, CEO, Svenska Skeppshypotek
Closing statement and remark
With a new regulatory framework in place, possible requirements from cargo owners, new technologies and fuels, and possibly new financing possibilities what will be the way forward? Are the economic conditions to facilitate the transition there? What will be the role of private financing, ie. Shipowners and cargo owners. How will institutional financing, ie. Banks and credit institutes, contribute? And what role can public financing play? Are the incentives there to spark the transition? What are the challenges and opportunities on the oceans ahead, and what are the takeaways from today’s discussions?
Speaker: Anders Borg, Economist and former Minister for Finance Sweden.