The H2Global Foundation and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping have signed a Memorandum of Understanding (MoU) to explore how market-based instruments can accelerate decarbonization.
The MoU was signed by Markus Exenberger, Chief Executive Officer of the H2Global Foundation, and Pernille Dahlgaard, Chief Impact Officer of the Center, reflecting the Parties' shared view that market-based instruments, including double-sided auctions for hydrogen-based fuels, are crucial to accelerating decarbonization in the global shipping industry.
The partnership brings together the Center's decarbonization expertise and market reach with H2Global's double-sided auction mechanism and its track record in mobilizing public funding.
Shipping accounts for around three percent of global greenhouse gas emissions. Clean hydrogen-based shipping fuels, such as e-methanol and e-ammonia, are among the few credible routes to deep decarbonization of the sector. Yet production remains scarce because producers lack the long-term demand certainty needed to reach final investment decisions - market interventions that close this gap can unlock supply – delivering low-emission energy needed to decarbonize hard-to-abate industries.
Under the MoU, the two organizations intend to support work on topics including:
- evaluating the feasibility of double-sided auctions for fuels and energy attribute certificates (EACs);
- assessing the role of EACs and the book and claim approach in compliance under regulatory frameworks such as FuelEU Maritime; and
- contributing to the standardization of EACs and evaluating the use of existing trading platforms, such as the European Energy Exchange.
Markus Exenberger, Chief Executive Officer, H2Global Foundation: "Shipping needs clean fuels, and clean fuel producers need reliable demand. By combining the Center's deep knowledge of the maritime sector with H2Global's proven double-sided auction mechanism, we can help create the price signals and offtake certainty that first-of-a-kind projects need."
Pernille Dahlgaard, Chief Impact Officer, Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping: "Decarbonizing hard-to-abate industries requires innovation in both technology and markets. Effective subsidy instruments can be a critical enabler, accelerating the transition for all. We are pleased to welcome H2Global into our rich ecosystem of partner organizations, and look forward to working together to put these insights into practice, scaling the low-emission fuels the world needs to enable decarbonization."