Equinor has announced the formation of the Ocean Renewable Energy Action Coalition to accelerate global offshore wind capacity.
The coalition brings together intergovernmental institutions, civil society and various industries and will focus on the sustainable deployment of ocean-based renewable energy while reducing the harmful impact of climate change.
Companies that are part of the coalition include CWind, Global Marine Group, JERA, MHI Vestas, Mainstream Renewable Power, Shell, Siemens Gamesa, TenneT and The Crown Estate. Ørsted and Equinor will lead the initiative.
Equinor wind and low carbon senior vice-president Stephen Bull said: “Collaboration between nations and companies is needed to accelerate the sustainable deployment of ocean renewable energy.
“This Action Coalition includes leading industry players in offshore wind and we are working together to unleash the full potential of offshore wind globally.”
The High-Level Panel for a Sustainable Ocean Economy has formed the coalition in response to the September 2019 Call for Ocean-Based Climate Action. The coalition will focus on preparing a vision for 2050 that will include actions required from the industry, financiers and governments to increase the offshore wind capacity.
It will also ensure that the action plan will be in line with the UN Sustainable Development Goals and global decarbonisation goals.
According to a report released by the High-Level Panel for a Sustainable Ocean Economy, ocean-based renewable energy projects would help to reduce the greenhouse gas emissions by 10% by 2050.
Ørsted vice-president Benj Sykes said: “If we are serious about fighting the climate crisis, it is vital we decarbonise the world’s energy use as quickly as possible through technologies like offshore wind.
“The Ocean Renewable Energy Action Coalition will work together to accelerate the opportunity presented by ocean renewables to achieve the Paris Agreement goals.”