The International Maritime Organization (IMO) is committed to regulating international shipping to achieve net-zero greenhouse gas emissions from the shipping sector by or around 2050. This commitment was solidified in 2023 when member countries agreed on a strategy to reduce emissions from the shipping industry, with indicative checkpoints set for 2030 and 2040.
In 2022, the global shipping industry emitted 858 million tons of carbon dioxide, accounting for approximately 3% of global emissions. The IMO's strategy includes indicative checkpoints for international shipping to reach net-zero GHG emissions, aiming for at least a 20% reduction by 2030 (striving for 30%) and at least a 70% reduction by 2040 (striving for 80%) compared to 2008 levels. The strategy also aims for a reduction in carbon intensity of international shipping by at least 40% by 2030.
IMO Secretary-General Arsenio Dominguez emphasized that the new rules would be mandatory for ships operating worldwide, marking a significant step towards a net-zero emissions future for the maritime sector.
The shipping industry is also exploring economic measures like carbon pricing to incentivize the transition to green fuels. The International Chamber of Shipping supports a carbon pricing mechanism as an effective way to promote rapid energy transition in shipping.
These efforts are crucial for island nations most threatened by climate change, who are actively advocating for these changes. With collaborative efforts and innovative solutions, the maritime industry can contribute to a sustainable future.