The leading shipping companies warn that the pure, net framework of the Maritime Organization (IMO) can fill the sector with more than $ 300 billion in costs by 2035 if the goals are missed.
Also read: Global charging faces a historical climate turning point where IMO is an emissions tax
IMO, which organizes global charging, is preparing to adopt new bases next month and require ships to pay fees on at least part of greenhouse gas emissions. The framework is essential in the International Maritime Organization’s pledge to achieve purely zero emissions by 2050, but it has already caused criticism. The United States government rejected the plan as a “global carbon tax”.
In a joint statement, ship owners who represent more than 1,200 ships can reach that annual compliance costs may reach 20-30 billion dollars by 2030 and exceed $ 300 billion by 2035 if the world fleet is less than 10 % of only carbon goals.
While the United States is still opposed, most countries voted in favor of the framework earlier this year, and the International Shipping Chamber – which represented more than 80 % of the world’s merchant fleet – supported.
However, industry leaders argue that the current design of Neto Frao Bank (NZF) risk undermining both carbon removal efforts and competitiveness. “It is necessary for IMO NZF to implement greenhouse gas measures that are appropriate for the purpose,” said the group, which includes Stolt, Frontline PLC and Bahri carriers in the Kingdom of Saudi Arabia. The statement urged amendments to ensuring “realistic paths” and warned of “excessive financial burdens and inflationary pressure on the final consumer.”
The next IMO decision will be a pivotal moment for global shipping, as the frequency of carbon removal and the cost of the costs that transport companies and their customers bear.
