With the global climate regulation agreement adopted by the International Maritime Organization (IMO) at the 83rd session of the Marine Environment Protection Committee (MEPC 83), shipping is on track to become the first industry with internationally mandated targets to reduce emissions. While some industry representatives praise the agreement as “historic”, others describe it as a “shipwreck” that missed targets. However, a unified opinion is that more work is needed to steer the shipping industry toward a climate-neutral path.
During the session held from April 7 to April 11, MEPC 83 approved the IMO Net-Zero Framework , said to be the first in the world to combine mandatory emissions limits and greenhouse gas (GHG) pricing across an entire industry sector.