A recent survey by global law firm Reed Smith reveals that the high cost of sustainable energy and inadequate supply chain infrastructure are seen as the primary obstacles to transitioning to sustainable fuel sources.
Insights were gathered from over 50 respondents across various sectors, including aviation, shipping, logistics, manufacturing, utilities, and environmental services.
The study found that almost half of the respondents believe it will take over 15 years for the transportation sector to be fully powered by sustainable fuel sources.
It also found nearly half of the participants expect dual fuel and LNG to be the most commonly used transitional fuels in the next 3-5 years, and cost and regulatory restrictions are the most significant factors hindering sustainable fuel adoption.
Over a third of respondents indicated that both the high cost of sustainable energy and inadequate supply chain infrastructure will be significant barriers in the next 5-10 years, says the study.
One-third of the participants cited uncertainty in interpreting and complying with new or complex regulations as a major concern, and nearly half of the respondents consider biofuel and green hydrogen the most promising sustainable fuel sources for widespread application in the transportation sector.
Tags: Infrastructure, Reed Smith, Survey, Sustainable Fuel
Recent Posts
The Liberian Registry and Korean Register (KR) grant AiP to Samsung
To satisfy decarbonization targets, Big Oil invests billions in the manufacture of biofuel
ISO issues standards for methanol as a marine fuel
Amazon, partners to test electric trucks on a freight corridor in India
Hutchison Ports BEST receives Lean and Green award for outstanding emissions reduction
India ranks 10th in list of 60 countries assessed for efforts to fight climate change: Report
SECI to collaborate with H2Global for green hydrogen
Maersk completes first large container vessel conversion to dual-fuel