Shipping accounts for nearly 10% of global transport emissions and about 3% of global CO₂ output. While UK maritime emissions have already fallen 30% since 1990, reaching the government’s new decarbonisation targets will require accelerated action.
Announced in March 2025, the UK’s maritime strategy sets ambitious goals: · 30% Greenhouse Gas (GHG) reduction by 2030. · 80% by 2040 (compared to 2008 levels). · Net zero by 2050.
Carolyn Newsham, Financing Partner to Siemens GB&I, explains why private financing solutions are essential to accelerate port decarbonisation and meet climate targets on schedule;
Ports are a key focus. The government’s strategy document notes that vessels at berth produce nearly half of UK domestic maritime emissions (excluding inland waterways). Following a recent call for evidence, the government may mandate zero or near-zero emissions from berthed vessels by the late 2020s or 2030s—underscoring the urgency for change.
Electrifying port infrastructure—such as diesel cranes and cargo equipment—is critical. Power could come from batteries, hydrogen fuel cells, the grid, or solar photovoltaic panels. Benefits include better air and water quality, lower noise levels, long-term cost savings, and greater energy independence. Early adopters will also gain access to future tech innovations.
According to a study by the UK Chamber of Shipping, almost 80% of respondents acknowledged the lack of port infrastructure as an obstacle to installing shore power technology on their vessels. Retrofitting costs (45% of the respondents) and regulatory requirements (41%) were cited as the second and third barriers.
How can port operators overcome this financial barrier? Even if the maritime strategy assures that, “we want to establish the right incentives and requirements to encourage the uptake of the technology needed to reduce these emissions [from vessels at berth]”, public sector finance alone will not be sufficient to achieve the targets in the designated period.
Private finance solutions allow businesses to immediately invest and seize opportunities without capital expense, spreading repayments over an agreed period to accommodate cash flow requirements.
Carolyn says, “With the UK government estimating that £50–60 billion will be needed each year from 2030 to deliver its net zero transition — and the majority expected to come from private sources — specialist finance solutions will be essential.
“These solutions allow port operators to invest now, spread costs over time, and even keep operating expenses flat while transitioning. When combined with government incentives, private finance not only makes the business case for decarbonisation viable, but also compelling.”
