Jim Hagemann Snabe: Dreams and details for a decarbonized future | TED Countdown

TL;DR

In this TED Talk, the chairman of A.P. Moller - Maersk shares how their company is working towards achieving zero-carbon shipping through the use of power-to-X technology.

Transcript

A few months ago, my daughter asked me a very simple question: “Who are your heroes, dad?” I said, "Well, besides my father ..." hoping she would get the hint. (Laughter) One of my big heroes is Malcom McLean. I realize that Malcom McLean is not really known on social media today, but, in 1955, McLean invented a metal box that changed the world: th... Read More

Key Insights

• 👧 Importance of Leadership: The speaker expresses the importance of leadership in transforming industries and pursuing ambitious dreams that inspire people to take action and pay attention to details.
• 🌍 Impact of Shipping Containers: The invention of shipping containers by Malcom McLean revolutionized global trade, reducing shipping costs by over 90% and lifting millions of people out of poverty by connecting them to global markets.
• 🚢 Urgent Need for Sustainable Shipping: The speaker highlights that more than 9% of global CO2 emissions come from transporting goods, emphasizing the need to make the shipping industry sustainable.
• 🔋 The Power-to-X Solution: The speaker introduces "power-to-X" as a solution for achieving zero-carbon shipping. It involves converting green electricity to green fuel through known chemical processes, which can be used in combustion engines.
• 💰 Affordability vs. Sustainability: While green fuel is currently more expensive than bunker fuel, the speaker argues that the affordability argument should not hinder the necessary investments and decisions towards sustainable shipping.
• ⚡️ Scale of Renewable Energy Installations: Achieving zero-carbon shipping requires a dramatic increase in installations of solar, wind, hydrogen production, and green fuel production. The estimated investment needed is around two trillion dollars.
• 💡 Good Business in Sustainable Solutions: The speaker believes that investing in sustainable solutions has become good business due to increasing demand, indicating a shift towards a more sustainable future.
• 👥 Collaboration and Leadership: Collaboration and leadership are necessary to pursue and achieve ambitious sustainable goals. The speaker emphasizes the importance of working together to address critical details and accelerate the transition to a sustainable future.

Questions & Answers

Q: Who is Malcolm McLean and what invention did he create?

Malcolm McLean is a hero mentioned in the video. In 1955, he invented the shipping container, a metal box that revolutionized global trade. By reducing the costs of shipping cargo by over 90 percent, McLean's invention connected people and their goods to global markets at a much lower cost, ultimately lifting hundreds of millions of people out of poverty.

Q: What was the commitment made by the management team of A.P. Moller - Maersk in 2018?

In 2018, the management team of A.P. Moller - Maersk, the global shipping company led by the speaker, made a commitment to make the company carbon-neutral by 2050. This ambitious dream aimed to transform the shipping industry and combat the 9 percent of global CO2 emissions that come from transporting goods around the world.

Q: How did A.P. Moller - Maersk plan to achieve carbon-neutral shipping by 2050?

To achieve carbon-neutral shipping by 2050, A.P. Moller - Maersk needed to invent a zero-carbon container vessel by 2030. The plan was to retrofit the existing fleet of 750 vessels by adding a combustion engine designed for green fuel. This solution, called "power-to-X," would convert green electricity into green fuel through known chemical processes, making it possible to achieve zero-carbon shipping much earlier than replacing the entire fleet.

Q: What are the challenges faced in achieving zero-carbon shipping?

One challenge mentioned in the video is the affordability of green fuel compared to the bunker fuel currently used. With current technology, green fuel is two to three times more expensive. However, the speaker argues that even at this price, the increase in shipping costs for goods like a pair of sneakers would only be five cents. The real challenge lies in scaling renewable energy installations, with an estimated total investment of two trillion dollars needed for the entire industry.

Q: What does the speaker urge governments to do?

The speaker urges governments to show leadership and implement a global price on CO2. By having a price of around 150 dollars per ton of CO2 emissions, the affordability argument against sustainable solutions would disappear. This would allow a shift in focus from price concerns to the scale of installations needed to meet the demand for green fuel, and ultimately accelerate the transition towards a sustainable future.

Summary & Key Takeaways

• Malcom McLean invented the shipping container in 1955, which revolutionized global trade and lifted millions out of poverty.

• A.P. Moller - Maersk, a global shipping company, committed to becoming carbon-neutral by 2050 and is working on developing a zero-carbon container vessel by 2030.

• The solution they found is called "power-to-X," which converts green electricity to green fuel and can be used to retrofit existing vessels, achieving zero-carbon shipping earlier.