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IMO Secretary-General Calls for Ambitious Investments in Decarbonization
- On June 8 in Monaco, IMO Secretary-General Arsenio Dominguez urged substantial investments to advance the decarbonization of the global shipping sector.
- This call followed recent agreements on mandatory carbon emissions standards for all international ocean-going vessels under the IMO Net-Zero Framework.
- The framework introduces global limits on fuel intensity and implements a cost on emissions, while close to 500,000 maritime workers will need retraining by 2030 to manage new fuels and updated safety procedures.
- Industry leaders reported container shipping has committed $150 billion to decarbonization and emphasized, "Regulations alone cannot do the job" but require technological development and alternative fuels.
- The push for investments signals a complete transformation affecting ships, ports, supply chains, and workforce, with port infrastructure upgrades essential to support the transition.
16 Articles
16 Articles
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The maritime sector is responsible for 3% of greenhouse gas emissions. Its decarbonisation is a huge challenge for the climate. It is also an economic and financial challenge for the sector.
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