COP27: US pushing for more green corridors to kickstart shipping decarbonisation

The US and South Korea announced plans at COP27 to explore the development of green corridors between major ports in both countries.

PHOTO: Containers and gantry cranes in the US West Coast port of Tacoma. Getty Images

Several US and South Korean government ministries have launched a feasibility study to explore the potential of creating green corridors between major ports in both countries.

The feasibility study will be conducted by the Zero-Emission Shipping Mission and will be closely monitored by the South Korean Port of Busan and the US' Northwest Seaport Alliance, a shipping cargo partnership between the US ports of Tacoma and Seattle.

The US Department of State announced a similar green corridor exploration initiative with the UK.

At COP27, the US said it has allocated $703 million to 41 projects that will improve port facilities. Some of these projects were previously announced, but have now moved from the drawing board and closer to becoming reality.

Apart from this, the US Department of State highlighted that it has launched a $3 billion rebate and grant program to fund the development of zero-emission port equipment and technologies.

At a DNV conference last week, the Global Centre for Maritime Decarbonisation’s (GCMD) chief executive Lynn Loo said that for green corridor shipping to succeed, governments should need to devise mutual consensus policies and incentives to spur uptake of green fuels between ports.

By Nithin Chandran

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