Emerging Economies Take the Lead in Green Shipping Corridors: A Game-Changer for Climate Goals?
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A recent report by the Global Maritime Forum reveals a significant expansion of green shipping corridors across emerging economies, marking a crucial step towards achieving global climate goals. The report, 'At a Crossroads: Annual Progress Report on Green Shipping Corridors 2025,' identifies 25 new initiatives, bringing the total number of active green corridors to 84. In a major breakthrough, green corridors have been launched in major developing economies like China, India, Brazil, Chile, Ghana, and Kenya, reflecting the economic opportunities that can be seized through the development of zero-emission marine fuels and bunkering capabilities. This move aligns with government ambitions in these regions, such as India's 2025 shipping goals, China's efforts to accelerate port infrastructure and green fuels, and Brazil's National Hydrogen Program. In India, new corridors include the India Green Corridors, India-Denmark Green Corridors, India-Singapore, and Kandla-Tuticorin Coastal Green Corridor. The report comes amid the International Maritime Organisation's (IMO) delayed discussions on the Net-Zero Framework, which was adjourned due to US lobbying. According to Jesse Fahnestock, director of decarbonisation at the Global Maritime Forum, the move of major countries into green corridors is 'hugely promising,' as these markets will determine whether zero-emission shipping scales fast enough to meet global climate goals. Methanol and ammonia remain popular fuel options, while many agnostic green corridors have expressed interest in battery electric propulsion. However, the report cautions that many initiatives remain stalled due to the cost gap between conventional and zero-emission fuels. The Net-Zero Framework, delayed until at least next October, could help overcome this challenge. Fahnestock emphasizes the importance of action now, stating that those who act will be best positioned to benefit when regulation catches up.
