Nations meet to consider regulations to drive a green transition in shipping
- European Union member states and the United States clash over the Net Zero Framework ahead of the October 14 IMO vote in London, which would establish a global carbon price on shipping emissions.
- Designers of the NZF built in a global carbon levy, an IMO Net Zero Fund and a fuel standard to drive the transition toward the 2050 net-zero target.
- The draft regulations are designed to enter into force in 2027, with large oceangoing ships over 5,000 gross tonnage facing penalties starting in 2028 and revenue estimates of $11 billion to $13 billion annually.
- Approval depends on reaching at least 108 of the 176 MARPOL Annex VI signatories, while the U.S. government warned it would impose port bans, new fees and visa restrictions on supporters.
- Industry leaders warn that delay risks patchwork rules and higher costs, while seven major shipowner associations and the Getting to Zero Coalition urge backing amid estimates of global freight costs rising 10% or more.
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98 Articles
Nations Meet To Consider Regulations Towards A Green Transition In Shipping - Canadian Manufacturing
The world’s largest maritime nations gathered in London on Oct. 14 to consider adopting regulations that would move the shipping industry away from fossil fuels to slash emissions. If the deal is adopted, this will be the first time a global fee is imposed on planet-warming greenhouse gas emissions. Most ships today run on heavy fuel oil that releases carbon dioxide and other pollutants as it’s burned. Nations are meeting at the International Ma…
Nations meet to consider regulations to drive a green transition in shipping (World)
The world's largest maritime nations gathered in London on Tuesday to consider adopting regulations that would move the shipping industry away from fossil fuels to slash emissions. If the deal is adopted, this will be the first time a global fee is imposed on planet-warming greenhouse gas emissions....
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