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Business leaders recently trooped to the United Nations headquarters in New York with an urgent message to the global shipping industry
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They called on the International Maritime Organization to take effective mid-term measures to decarbonize the shipping industry
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They asked member states of the IMO to support a global regulatory framework that accelerate the use of zero or near-zero greenhouse gas fuels
Business leaders called for urgent decarbonization the International Maritime Organization (IMO) to take effective mid-term measures to decarbonize the shipping industry.
They trooped to the United Nations headquarters in New York specifically asking member states of the IMO to support a global regulatory framework that accelerates the use of zero or near-zero greenhouse gas (GHG) fuels. The United Nations Global Compact’s High Level Ocean for the Future Meeting took place on September 23.
This should be done “in a just, inclusive, ambitious, and timely manner,” they said.
The business leaders pointed out that the maritime sector is uniquely and extensively regulated globally through the IMO.
Today, the industry “is at a tipping point with ambitious environmental goals and a keen focus on ensuring a just transition for all stakeholders while continuing to secure efficient global trade,” they added.
In order to reach their targets, they stated that a strong and global regulatory framework with effective mid-term measures is a must. This is in order to bridge the price gap that is urgently needed to guarantee a level and competitive playing field.
They encouraged all UN member states to work together towards innovative policies and financial mechanisms so that a level playing field can be attained between the use of fossil fuels and zero and near-zero GHG marine fuels.
The need to hasten production capacity of such marine fuels has become critical, they said, adding it is imperative that a sustainable economy be created that thrives in harmony with the environment.
“We are ready to do our part, in collaboration with governments, the UN and other key stakeholder,” the business leaders said.
READ: Measures to deliver decarbonization target need “clear focus”, says WSC
