The Digest’s Multi-Slide Guide to Global Regulatory Framework and Policies for International Shipping

The 2023 IMO GHG Strategy aims for net-zero emissions from international shipping by or around 2050, targeting 20% GHG reduction by 2030 (striving for 30%) and 70% by 2040 (striving for 80%). A mandatory GHG emissions pricing mechanism will apply from 2028 to ships >5,000 tons. The IMO forecasts a need for 25-30 MTOE of low emission fuels by 2030. Currently, 7.4% of operating ships and 49.3% of the order book are capable of using alternative fuels.