Inside the IMO: How the Net-Zero Framework was thwarted… for now

This episode of the Lloyd’s List Podcast was brought to you by Veson. Visit veson.com for more information.

ARGUABLY the most important week in the history of the International Maritime Organization ended in stalemate after an extraordinary meeting of the Marine Environment Protection Committee voted to adjourn proceedings for a whole year.

Last week was supposed to be the week shipping ratified the IMO’s Net-Zero Framework and in doing so become the first industry to adopt a global carbon price.

Despite confidence that the yes side “had the numbers”, efforts to thwart the framework by the US and Saudi Arabia were partially successful.

Lloyd’s List senior reporter and decarbonisation expert Declan Bush takes you inside the IMO and details a turbulent four days that could define the UN body and its ability to lead on climate change.