Under the terms of the agreement, CCS and Cosco Shipping will pool resources to support China’s efforts in the fight against climate change. The two will leverage China’s national "carbon peak, carbon neutral" development target, international efforts to reduce maritime transport emissions and the climate-neutral goals of the EU Green Deal to help guide research on energy consumption structure and the development of viable technological solutions.
CCS and Cosco Shipping have committed to working together to support the development of key core technologies, build an international cooperation platform, promote the establishment of industry standards and the formation of the International Maritime Organisation proposal, and use their combined expertise and experience to aid carbon emission reduction strategies within the shipping industry.
Mo Jianhui, president of CCS said: “The signing of this agreement will further deepen the strategic cooperative relationship between CCS and Cosco Shipping Group, creating new and important opportunities to help support the implementation of major national strategies and China’s goal of achieving the ‘3060 double carbon’ target.
“A partnership working approach will enhance research efforts into key core technologies to support decarbonisation and carbon neutrality in the shipping industry, as well as helping us to promote the development of relevant standards and regulations,” Mo continued.