In Brussels, Mario Draghi, former Prime Minister of Italy and ex-President of the European Central Bank, issued a report detailing the urgent need for Europe to secure its position in global shipping through decarbonisation and innovation. The report stresses that Europe is at risk of falling behind major global competitors unless immediate and coordinated actions are taken to boost competitiveness and reduce emissions.
The Draghi Report calls for €40 billion in annual investments until 2031 to support the transition to alternative fuels, including hydrogen and ammonia, which are key to meeting EU climate goals. Additionally, it highlights the necessity of reskilling 250,000 European seafarers to prepare them for new, cleaner technologies that will be critical for the future of the industry.
The report also warns that Europe must reduce its dependency on external energy sources, emphasizing collaboration between governments, industry leaders, and financial institutions to secure funding for these initiatives. By closing the innovation gap with the US and China and focusing on sustainable growth, the report envisions Europe becoming a leader in global shipping decarbonisation.
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Tags: Brussels, European Commission, Mario Draghi
Category: Sustainable Marine Fuels
