Core Viewpoint - The establishment of the Shanghai International Shipping Sustainable Fuel Certification System marks a significant step for China in building international green governance rules for shipping [3] Group 1: Development of Green Fuel Certification - Shanghai aims to establish a green fuel refueling service center by 2030, laying the groundwork for an international green fuel trading and certification center [3] - The demand for green fuel certification in China is substantial, given the country's large shipping volume, with 2022 maritime cargo volume reaching 4.151 billion tons [3] - The Shanghai International Shipping Carbon Footprint Labeling Association was established to focus on the development of a sustainable fuel certification system [7] Group 2: International Standards and Challenges - The International Maritime Organization (IMO) will implement a net-zero emissions framework starting in 2028, making the establishment of a sustainable fuel certification system urgent for the global shipping industry [4] - The EU's ISSC EU certification standard, which has been in place since 2010, serves as a model for sustainable fuel certification, requiring a lifecycle carbon emission reduction of at least 50% compared to fossil fuels [4][5] - A key challenge for China is to align its green fuel certification with international standards while promoting domestic green fuel development [8] Group 3: International Cooperation and Market Integration - Shanghai can establish a green fuel production and sales cooperation system with regions rich in renewable energy, such as the Middle East and North Africa [9] - The integration of green fuel resources into the Belt and Road Initiative is essential for reducing green fuel prices and enhancing market competitiveness [9] - Engaging with globally influential certification bodies like ISCC can help Shanghai enhance its position in the international green shipping fuel market [9] Group 4: Learning from Global Practices - Singapore's port has successfully utilized green financial tools to lower the transition costs for shipowners, providing incentives for the use of low-carbon fuels [10] - The port plans to launch innovative products, including carbon tax hedging and green fuel futures, by 2025 [11] - Shanghai can leverage Singapore's experiences in building trading platforms and applying green financial tools to enhance its green fuel certification service center [13]