On 07 July 2023 the members of the International Maritime Organization (IMO) agreed to a new strategy to reduce greenhouse gas emissions. During the Marine Environment Protection Committee (MEPC 80) climate summit it was agreed that the maritime sector would aim for zero-emissions by around 2050.
The agreement is a milestone for the efforts to reduce the climate footprint of international maritime transport and calls upon the shipping sector. The goal of net zero emissions represents a major increase from the ambitions described in the earlier 2018 strategy, which aimed at reducing emissions from ships by 50% within the same period. The strategy includes indicative checkpoints to reduce emissions by 20% – 30% by 2030 and at least 70% – 80% by 2040. The strategy assumes a reduction of at least 5% – 10% – by 2030 through the implementation of technologies and the use of new fuels. The European Union will engage with the IMO to decide on clear and ambitious measures to be adopted by 2025 in order to reach these targets.
For a more detailed overview of the new strategy, we refer our Members to the press release available on the website of the IMO.