Agreement Stalls at IMO: Shipping's Net-Zero Future Uncertain

The International Chamber of Shipping has voiced its discontent following the International Maritime Organization's latest session in London. The meeting ended without an agreement on a Net-Zero Framework for the shipping industry, a setback in the quest for global carbon pricing.

ICS Secretary General Thomas A. Kazakos emphasized the urgency of industry-wide clarity on carbon reduction. "Industry needs clarity to make the necessary decarbonization investments," Kazakos stated.

The session, part of the Marine Environment Protection Committee's efforts, underscores the industry's commitment to aligning with the IMO's GHG strategy despite current hurdles.