Maritime ports have long been major drivers of the world economy. They serve as hubs for critical trading and supply chain hubs that boast a long history in trade dating back thousands of years. Nowadays, they are blazing the trail as pioneers of the tech-driven energy change of the twenty-first century. Handling and supporting several associated sectors, these ports enable 80% of all world commerce.
Their special positioning at the meeting point of a commercial ecosystem enables them to quickly react to developing technology, geopolitical obstacles, and urgent climate change. At Associated British Ports (ABP), which oversees nearly a quarter of the seaborne commerce of the UK, the climate crisis has been a noticeable driver of invention. The company has remained privately owned since its founding in 1982 and is currently backed by both sovereign wealth and pension funds.
Associated British Ports’s 21 port sites and vast 8,600-acre land portfolio are strategically important as they consider and repurpose property for renewable energy projects, including offshore wind and solar, as well as investigate several business models, including partnerships with climate tech start-ups. Max Harris, who is the group head of strategy and sustainability for ABP, is going to lead the new Energy Ventures Accelerator (EVA) program.
By connecting port operators with climate tech start-ups capable of tackling major challenges, including industrial heat decarbonization, this project seeks to improve their relationships with carbon-intensive industry consumers like steelmakers and shipping companies. Moreover, as these start-ups strive for commercial scalability, this provides an opportunity for Associated British Ports to fund possible future clients. Harris, in a recent interview, clarified and explained how transparency can be a critical business strategy in evolving functions of the ports present ABP with opportunities to explore novel business models. It also addresses its own climate-related problems, along with supporting its clients in advancing projects on offshore wind, carbon capture and storage, as well as other sustainability goals.
