A flurry of activity around container shipping decarbonization is under way, with private sector initiatives occurring alongside ambitious IMO targets to reach net-zero greenhouse gas emissions by 2050. On the industry side, 40% of new ships on the carrier orderbook are for vessels capable of running on green fuels, according to industry analyst Alphaliner. Forwarders, meanwhile, are offering zero-carbon products to a growing number of customers, and a coalition of large shippers is pooling 600,000 TEUs of volume over three years is pooling 600,000 TEUs of volume over three years, acting similarly to a traditional shippers’ association and pledging to purchase only ocean freight services powered by scalable zero-carbon fuels by 2040. Most recently, a coalition of cold chain stakeholders in late 2024 announced at COP28 in Dubai the formation of the Join the -15ºC Initiative with a goal of lowering frozen food temperatures to dramatically reduce carbon dioxide emissions. Most frozen food has been transported and stored at -18ºC, a standard established 93 years ago that hasn’t changed. New research shows that changing the standard by just 3 degrees Celsius would have a dramatic impact on environmentally damaging emissions. According to the research, going to -15ºC standard would:

• Save 17.7 million metric tons of carbon dioxide a year, the equivalent annual emissions of 3.8 million gasoline-powered automobiles.

• Create energy savings or approximately 25 terawatt-hours, equivalent to more than 8.6% of the UK’s annual energy consumption.

• Cut supply chain costs by at least 5% and up to 12%.

This session, which will bring to a close the inaugural TPM Cold Chain event, will analyze these important developments, with a focus on the -15 ºC initiative and its revelatory impact on refrigerated shippers and their service providers.