The Getting to Zero Coalition (GZC), which includes over 180 companies active in the global shipping, has called on International Maritime Organization member states to adopt the Net-Zero Framework, saying that a failure to do so would risk significant negative consequences for the shipping industry.

In October, the IMO will make a crucial decision on whether to adopt the Net-Zero Framework, and as a global regulator, IMO has a crucial role in shaping the shipping industry’s current and future choices with the political mandate and decision-making capacity to address the industry’s global challenges with binding regulations.

GZC notes that the work on the transition has begun with new vessels that can use alternative fuels and the supply chain for alternative fuels that has recognised the shipping sector as an important new customer. It warns, however, that whilst such investments in new technologies and infrastructure have the potential to deliver significant benefits, any delay in global regulatory guidance will raise the costs of change in the long run.

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