27 May IMO Introduces New Regulations Towards Net Zero
The IMO has achieved another important step towards establishing a legally binding framework to reduce greenhouse gas emissions from ships, aiming for net-zero emissions by or around 2050.
The Net-Zero Framework will combine mandatory emissions limits and GHG pricing across an entire industry sector and includes measures such as a new fuel standard for ships and a global pricing mechanism for emissions, which will come into effect as of 2027.
This framework will be included in the International Convention for the Prevention of Pollution from Ships (MARPOL), which covers 97% of the world’s merchant shipping fleet by tonnage, and already includes mandatory energy efficiency requirements for ships.
These regulations are being introduced in order to achieve the climate targets outlined in the 2023 IMO Strategy on the Reduction of GHG Emissions from Ships, accelerate the introduction of zero and near zero GHG fuels, technologies and energy sources, and support a just and equitable transition.
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