GMF regrets delay of Net-Zero Framework amid ‘extraordinary political challenges’

The Global Maritime Forum issued a statement today following the adjournment for a year of consideration of the proposed New-Zero Framework for global shipping by IMO’s Marine Environment Protection Committee 2nd Extraordinary Meeting late last Friday.

The week’s negotiations  took place amid “extraordinary political challenges,” it points out, and failure to reach a consensus “will now extend the uncertainty over how shipping’s transition to zero emissions will be regulated.”

“Today's adjournment is a disappointing setback for shipping, but not the end of this journey,” states GMF’s Director of Decarbonisation, Jesse Fahnestock. “The adjournment for a full year creates serious challenges for meeting the timelines in the Net-Zero Framework agreed in April and will make delivery of the sector’s decarbonisation targets even more challenging.

“We encourage Member States that agreed on the framework in April to re-confirm their commitment to multilateralism and continue the urgent work of developing guidelines and adopting a regulatory framework that can deliver on the IMO’s unanimously agreed Greenhouse Gas Strategy.” 

The MEPC will continue to work on guidelines for implementation of the Net-Zero Framework, and the GMF deems it “essential to complete the design of rewards for Zero and Near-Zero Fuels, define use of funds for a just and equitable transition, and provide clarity on emissions accounting as soon as possible. Clear and robust guidelines can help pave the way for adoption next year. 

“In the meantime, the actions of industry, nations and regions will play a crucial role in sustaining progress towards that goal. We call on industry to keep exploring innovative decarbonisation solutions, and forward-looking states to champion ambitious policies that can drive progress in shipping’s transition to net zero.”