HMM Joins “Getting to Zero Coalition”
South Korean shipping giant Hyundai Merchant Marine (HMM) has joined the Getting to Zero Coalition, a new alliance that aims to accelerate international shipping’s decarbonization.
Getting to Zero Coalition is a powerful alliance of nearly 100 organizations within various industrial sectors to achieve significant reduction of greenhouse gas (GHG) emission in the maritime industry.
“Climate change is a defining issue of our time and the scale of the environmental regulation we are facing is unprecedented. In order to ensure sustainable growth on the pathway to decarbonisation, all players need substantive reaction to the technological solution of ZEV (Zero Emission Vessel) as well as the development of carbon neutral fuels. HMM is well prepared to cooperate with relevant authorities and institutions within the Coalition,” says Jae-Hoon Bae, President & CEO of HMM.
HMM is committed to reducing carbon emission by 70% by the year 2030 compared to 2008 levels and thereby reach carbon neutrality by 2050 for its entire container fleets. HMM already reorganized R&D team to accelerate a range of research studies including the exploration of the commercial viability of hydrogen-powered system and collaboration with DSME for smart ship development.
HMM official said, “HMM’s carbon emission target is ambitious, but achievable. Along with “Getting to Zero Coalition”, HMM expects to make a better contribution to overall industry in moving towards carbon neutrality,” and added “HMM’s achievement and progress in line with its environmental roadmap can be found in the corporate sustainability report scheduled to be published next month.”