ICS calls on governments to set the course towards a net zero future in July

The International Chamber of Shipping (ICS) has submitted detailed well-thought through proposals to the next round of IMO negotiations. These support the development of a Global Fuel Standard as a technical measure to reduce the Greenhouse Gas (GHG) intensity of marine fuels, targeting 5% by 2030 and with an aggressive tightening of this standard after 2030, developed with industry experts to ensure the standard will work in practice.

ICS, and its members, are optimistic that governments will set a net zero target which sends a signal to energy producers and marine fuel suppliers, charting the direction of travel. ICS argues however that far more critical are the decisions that governments must now urgently take about the measures which will enable the end destination.
 
Governments have an opportunity this July to come together and chart a clear unambiguous course to a net zero future. Industry has provided the tools needed to reach this goal. A mandatory fuel standard with a “Fund and Reward” measure will unlock opportunity for all and ensure we reach our destination. A journey starts with a single step.”
 
The International Chamber of Shipping (ICS) is the principal international trade association for merchant shipowners and operators, representing all sectors and trades and over 80% of the world merchant fleet.