coZEV unites 19 global brands for 2040 zero-carbon ocean shipping ambition

Electrolux, Philips, REI, Target, and others join Aspen Institute and climate-leading cargo owners to more than double the number of signatories to the 2040 Ambition Statement to accelerate maritime shipping decarbonization

Cargo Owners for Zero Emission Vessels (coZEV) announced the addition of Beiersdorf, Dupont, Electrolux, ETTLI Kaffee, Moose Toys, Ohana Beverage Company, Philips, REI Co-op, Sisley, and Target to its 2040 Ambition Statement, the first-of-its-kind call to action from cargo owners to progressively switch all of their ocean freight to vessels powered by zero-carbon fuels by 2040. These multinational companies join Amazon, Brooks Running, Frog Bikes, IKEA, Inditex, Michelin, Patagonia, Tchibo, and Unilever, bringing the total to 19 companies that are sending an important signal of urgency across industries to accelerate decarbonization of the maritime value chain. This announcement of new signatories more than doubles the number of companies that have signed onto the coZEV 2040 Ambition Statement, an initiative facilitated by the Aspen Institute.

“In less than a year, coZEV has changed the narrative surrounding decarbonization in maritime shipping,” said Dan Porterfield, President and CEO of the Aspen Institute. “Through coZEV, cargo owners are kickstarting a clean energy transition in this critical industry, and the Aspen Institute is proud to support them and help enable their success.”

After a successful launch in October 2021, coZEV has begun to demonstrate the business case for investment in scalable zero-emission fuels and technologies capable of achieving full maritime industry decarbonization on a Paris-aligned trajectory. In the months following the coZEV 2040 Ambition Statement announcement, several of the largest container carriers in the world announced plans to build and launch new transoceanic dual fuel container ships capable of using zero-emission fuels by the middle of this decade. Numerous zero-emission fuel production plans were also announced by maritime fuel producers and major bunkering hubs around the world. Across the entire value chain, cargo owners drove higher ambition and supported new partnerships, such as the Los Angeles – Shanghai Green Shipping Corridor Partnership and the maritime shipping commitments of the First Movers Coalition, both of which are partners of the Aspen Institute, facilitator of coZEV.

coZEV also organized signatories IKEA, Unilever, and Tchibo to call on policymakers in the European Union to raise the ambition of its FuelEU Maritime Proposal to accelerate maritime decarbonization and provide incentives for the deployment and rapid scaling of zero-emission e-fuels.

“Support for maritime decarbonization has grown swiftly in just a short time due to the bold, climate-leading companies that are making their climate ambitions as freight customers clear to maritime carriers, fuel producers, ports and other value chain actors,” said Ingrid Irigoyen, Director of coZEV and the Aspen Shipping Decarbonization Initiative, which is an initiative of the Aspen Institute’s Energy and Environment Program. “The global economy’s maritime decarbonization journey is still in its early stages, but such progress in less than a year confirms for us that cargo owners can drive impact quickly when they come together. We are so pleased to welcome these new signatories, all important global brands, and look forward to helping support their leadership in the maritime decarbonization space.”

“By joining the coZEV 2040 ambition to eliminate maritime greenhouse gas emissions by 2040 we want to emphasize that we will continue working collaboratively with the industry to achieve zero-emission maritime shipping,” said Vanessa Butani, VP Electrolux Sustainability. “The coZEV’s 2040 ambition is clearly aligned with our own goal of becoming climate neutral in our operations by 2030 and across our value chain by 2050. Meaningful partnerships with like-minded leaders from every sector who are dedicated to investing in innovative and impactful climate solutions are key to our success.”