May 18, 2023 | Maritime business news

The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping and global law firm Allen & Overy have formalised their collaboration by signing a partnership agreement, under which Allen & Overy becomes a Knowledge Partner to the Center, committing to a long-term strategic collaboration and contribution to decarbonising the maritime industry.

Global warming is a climate emergency, and all sectors, including the maritime industry, must take immediate collective action to reduce emissions in line with the Paris Agreement 1.5°C trajectory. This will require unprecedented cooperation between the public and private sectors, among governments, citizens and NGOs – and among nations with different priorities. By establishing a partnership with Allen & Overy, the Center enhances its ability to develop and implement breakthrough decarbonisation projects around the world by navigating a diverse and challenging regulatory landscape.

Bo Cerup-Simonsen, CEO Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, said: “Allen & Overy is a strong addition to our existing network of forward-leaning companies and public sector organisations in the shipping ecosystem. Allen & Overy has substantial and global experience in developing the business and contract structure for fuel supply chains. As we embark on the journey of introducing new low-emissions fuels to the maritime value chain, the perception and mitigation of risk to the value chain participants will change. Building on Allen & Overy’s deep experience, we will look to create transparency on risk and opportunity for stakeholders entering new markets.”

Ian Ingram-Johnson, Co-Head Global Projects Group, Allen & Overy, said: “We are delighted to partner with the Center and its partners in their impactful approach to decarbonizing the shipping sector. This work is of critical importance not only to the industry’s net zero ambitions, but also to the impact the Center and its partners will have on scope 3 supply chain emissions for every company that transports people and goods across our oceans. We are looking forward to collaboration with all of the industry’s stakeholders for a more sustainable future.”

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