How can the Norwegian Maritime Industry Successfully Work Toward Net Zero-Emission Supply Chain Operations by 2050?

Abstract

The shipping sector plays a vital role in the Norwegian economy and significantly contributes to international shipping. Norway's rich maritime heritage has positioned the country favorably within the shipping industry. With the growing emphasis on climate action and industries striving to reduce emissions and mitigate greenhouse gases, the shipping sector shares a collective objective of achieving as close to zero-emission as possible by 2050.

The purpose of this study is to explore strategies, opportunities and factors that can facilitate the industry’s transition toward sustainability, considering the unique strengths and resources of the Norwegian maritime sector. Therefore, the research question is: How can the Norwegian maritime industry successfully work toward zero-emission supply chain operations by 2050? To answer the research question this master thesis used a qualitative research method with semi-structured interviews. Following a review on relevant literature, empirical data was collected by interviews with experts in the industry, which provided valuable insights into the industry's perspectives, experiences, and challenges related to the emerging market of zero-emission shipping. Additional information from climate and sustainability reports was gathered to examine the current situation and evaluate drivers, conditions and barriers in the market of zero-emission.

Our analysis of theoretical and empirical findings shows that collaboration between stakeholders is crucial in developing a robust market and for the industry to reach their goals by 2050. The market of zero-emission shipping needs supply and demand equilibrium, leading to an increased pressure on the authorities to engage and commit in the transition with leading players to ensure products and services are effectively managed in the end. The lack of certainty and development in the zero-emission market presents challenges for companies operating in the maritime industry. However, the findings highlight the Norwegian cluster's position as a frontrunner in innovation and the Norwegian cluster showcases its commitment to achieving sustainability objectives while concurrently driving economic growth. The Norwegian maritime sector has the potential, by working closely with stakeholders in the market and leveraging the driving forces, to overcome the barriers presented, to reach their goals by 2050.