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Green Finance Prospects for Ammonia Energy

ANNUAL REVIEW 2019: Green finance, the deployment of capital to sustainable pursuits, has been gathering momentum for a decade. Kristoffer Olsen, now an independent consultant and formerly a member of the Ammonia Energy Association’s Board of Directors, argued in an August 2019 Ammonia Energy post that “Green Finance and Green Bonds can directly contribute to the decarbonisation of ammonia and future production of green ammonia fuel.” Other recent indications lend credence to Olsen’s assertion.

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Bunker Ammonia: Rapid Cross-Sector Progress from Industry, Government, Finance, and Class Societies

The maritime industry has been engaged in a frenzy of research since April 2018, when the International Maritime Organization (IMO) announced its Initial GHG Strategy mandating a 50% reduction in shipping's emissions by 2050. Three recent announcements illustrate the speed and depth of progress across a range of maritime stakeholders. In the government sector, the UK has launched its Clean Maritime Plan, which identifies ammonia as one of its strategic "clean growth opportunities." In finance, a coalition of 11 banks representing a shipping portfolio of around $100 billion has launched the Poseidon Principles to "redefine the role of banks in the maritime shipping sector." And class society ABS launched its Global Sustainability Center in Singapore to analyse, certify, and validate alternative fuels and new technologies; its Director of Global Sustainability will speak at the inaugural conference of the Ammonia Energy Association--Australia, held in Clayton, VIC, on August 22-23. His subject will be "Green ammonia as marine bunker fuel."