Business executives from shipping, ports, energy corporations, and banks have urged IMO Member States to embrace a worldwide regulatory framework for the maritime industry’s transition to net zero by 2050.
The call to action was made at the United Nations Global Compact (UNGC) High-Level Ocean for the Future meeting in New York on 23 September.
The IMO’s Marine Environmental Protection Committee (MEPC) will meet again at the end of September to refine proposals for a global fuel standard and carbon/GHG pricing, including how to charge, who would collect, and which fuels are considered.
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Mediterranean Shipping Company (MSC) has noted that it firmly supports and commits to net decarbonisation by 2050. As a result, MSC’s fleet renewal strategy includes over 100 dual fuel LNG containerships on order and over 300 retrofits now underway throughout the existing fleet.
MSC anticipates that during IMO MEPC, a clear agreement will emerge, balancing ambition with pragmatism and sending a strong signal that governments are willing to match the shipping industry’s commitment to change.
Meeting members also stated that regulations must be fair, inclusive, and aspirational. ‘The High-Level Ocean of the Future’ meeting emphasized the importance of building a sustainable and resilient economy that can respond to global disruptions, according to MSC.
