Conclusions of the Conference "Decarbonization of the industry for a low carbon future"

Maritime transport is considered the main catalyst of global trade. According to the International Renewable Energy Agency, it is responsible for 90% of international trade, with an impact of about 3% of global greenhouse gas (GHG) emissions. Currently, around 11 billion tons of goods are traded by ship, and this value is expected to triple by 2050. On the other hand, the goals for decarbonizing maritime transport are ambitious and aim to align the sector with global climate change mitigation objectives.

In this context, the adaptation of ports and infrastructure and technological innovation are seen as the compass guiding the future of maritime transport, being indispensable for the sector's decarbonization and achieving more sustainable global trade in line with the International Maritime Organization's (IMO) commitment to net-zero emissions by 2050.

The US Inflation Reduction Act (IRA) differs fundamentally from the EU Green Deal as an industrial policy and response to climate change. The EU quantifies numerous climate targets to set strict limits on greenhouse gas (GHG) emissions. However, the U.S. aims to develop new technologies that mitigate climate change competitively than conventional ones through tax credits and market incentives, rather than through heavy regulation. This could put pressure on European countries to adopt similar policies to remain competitive.

This webinar will discuss the effects of the IRA in Europe, taking as a starting point the discussion of the brief produced by EsadeGeo on the topic.