After a week of climate negotiations in London, the member states of the UN’s International Maritime Organization (IMO) postponed by one year the vote on the adoption of the IMO Net-Zero Framework.

The framework aims to create the first global carbon pricing mechanism for any industrial sector with the aim of delivering a clear path for shipping’s transition to net zero. The adoption of the IMO agreement is crucial to deliver on the transition of international shipping to net-zero emissions and to ensure an international level playing field in regulation.

“We regret today’s postponement of the adoption of the international climate agreement for shipping. The IMO Net-Zero Framework is essential to give the industry the certainty it needs and to send a strong signal to the market to produce the clean fuels necessary to get to net zero.

Shipping is an international industry which requires meaningful global regulations to decarbonise. Global regulation is essential to ensure a level playing field at international level and to deliver the energy transition of international shipping.

We will continue to work with our international partners to ensure an agreement on the IMO NZF can be reached”, said Sotiris Raptis, Secretary General of European Shipowners | ECSA.