London, April 12: Following years of intense negotiations, nations have reached a landmark agreement to reduce greenhouse gas emissions from global shipping by setting mandatory fuel standards and introducing an industry-wide carbon pricing mechanism.
The framework, approved by the United Nations (UN) International Maritime Organization (IMO) Marine Environment Protection Committee, is the first to combine mandatory emissions limits and greenhouse gas pricing across an entire industry sector.
Scheduled for formal adoption in October 2025 and implementation by 2027, the measures will apply to large ocean-going vessels exceeding 5,000 gross tonnage, which are responsible for approximately 85 per cent of carbon dioxide emissions from the global shipping fleet.
The framework adopts a dual approach: a global fuel standard that will progressively lower the annual greenhouse gas intensity of marine fuels, and a carbon pricing mechanism requiring high-emitting ships to pay for their excess pollution.
A key feature of the new framework is the IMO Net-Zero Fund, which will collect revenue from the carbon pricing mechanism to support innovation, research, infrastructure, and transition initiatives in developing countries.
IMO Secretary-General Arsenio Dominguez on Friday praised member states for their cooperation and commitment during the negotiations, Xinhua news agency reported. “The approval of draft amendments to MARPOL Annex VI mandating the IMO net-zero framework represents another significant step in our collective efforts to combat climate change, to modernise shipping, and demonstrates that IMO delivers on its commitments,” he said.
MARPOL Annex VI refers to provisions in the International Convention for the Prevention of Pollution from Ships, specifically addressing air pollution. It already includes mandatory energy efficiency requirements for ships and has 108 Parties, covering approximately 97 per cent of the world’s merchant shipping fleet by tonnage.
Established in 1948 and headquartered in London, the IMO is a UN specialized agency responsible for the safety and security of global shipping and the prevention of marine and atmospheric pollution from ships.
IANS