24 Nov International Maritime Organisation (IMO) Pauses Net-Zero Shipping Talks
A milestone deal to cut global shipping emissions has been postponed, with the IMO’s Marine Environment Protection Committee deciding to delay adoption of new requirements on greenhouse gas (GHG) fuel intensity, in combination with a pricing and reward mechanism until October 2026.
With over 100 countries gathered in London to approve the deal outlined in April, the agreement would have seen shipping become the world’s first industry to adopt internationally mandated targets to reduce emissions.
However, following intense criticism and pressure from the United States and Saudi Arabia, efforts to move the framework forward stalled and the decision to adjourn for one year without adopting the measures was made.
Whilst this announcement pauses formal adoption, it does not stop implementation works, as Member States will continue to progress towards building consensus during the interim period. However, the delay does prolong uncertainty for shipowners, financiers, and fuel suppliers who have been planning around the IMO’s forthcoming global greenhouse gas (“GHG”) regime.
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