The International Maritime Organization (IMO) has adopted a landmark resolution committing the global shipping industry to net-zero greenhouse gas emissions by 2050, a major tightening of its previous 50% reduction target. The decision, passed with 108 votes in favour and just 4 abstentions, will require the industry to develop and deploy zero-emission fuels at an unprecedented scale.
The resolution establishes a binding carbon levy on shipping fuel from 2027, initially set at $100 per tonne of COโ-equivalent emissions and rising to $200 by 2035. The revenue โ estimated at $10 billion annually by 2030 โ will fund a green shipping transition fund to support developing nations in adapting to new maritime standards.
The decision has been welcomed by environmental groups as a turning point, though some industry bodies warn of significant cost increases that could be passed on to consumers of internationally traded goods. Analysts estimate that shipping costs could rise by 15โ25% as the industry transitions to more expensive clean fuels.
