Offshore energy transition and its economic impacts to be debated at seminar in Rio

On April 29 and 30, Rio de Janeiro will host a seminar called “The Offshore Energy Transition: Challenges and Opportunities for Brazil,” organized by the national development bank (BNDES), Fundação Getulio Vargas and the Brazilian Navy, with the support of 36 public and private sector institutions. The event will offer wide-ranging discussions on the challenges involved in achieving the goalsof the International Maritime Organization, the United Nations body that regulates global shipping, which recently updated its strategy for achieving net zero emissions in global shipping by 2050. Also on the agenda will be the impacts on different sectors of the Brazilian economy, the development of green fuels, the role of industry and technology, green corridors and foreign trade.

The opening remarks will be given by the IMO’s secretary-general, Arsênio Dominguez Velasco, in the presence of representatives of Brazil’s federal, state and municipal governments. The first day of debates (April 29) will take place in BNDES’main auditorium, starting at 9 a.m., and it will be broadcast live on the bank’s YouTube channel. The second day (April 30) will be held in FGV’s main auditorium, also starting at 9 a.m., and it will be livestreamed on FGV’s YouTube channel. Both days will feature simultaneous interpretation into English and Spanish.

Maritime transportation is responsible for around 3% of the planet’s greenhouse gas emissions. In 2023, the IMO revised its strategy for mitigating emissions at sea, providing for measures to reduce GHG emissions by up to 30% by 2030 and up to 80% by 2040. There will be a penalty on maritime transportation emissions as of 2027, which will guarantee the implementation of the strategy and the achievement of the net zero target by around 2050.

This ambitious target will require a profound change in various aspects of shipping, including new fuels, an evolution in ship design, replacement or retrofitting of older vessels, adaptations to ports and shipyards, and changes in shipping costs. To make this transition while maintaining or even gaining competitiveness, each country will need to make a strong effort, bringing together government bodies, the private sector, academia and funding agents.

To sign up for the event free of charge, click here.