A new insight brief from the Getting to Zero Coalition and the Global Maritime Forum found that the International Maritime Organisation’s (IMO) new policy measures are ambitious enough to drive a transition to scalable zero-emission fuels but will ultimately only succeed if they include meaningful rewards and, over time, higher penalties for non-compliance.
The brief, ‘IMO’s policy measures: What’s next for shipping’s fuel transition?’, uses total cost of ownership (TCO) modelling by UMAS and UCL and more than 30 stakeholder interviews to analyse the sector’s capital investment and operational options following the IMO’s adoption of global fuel intensity (GFI) factors and penalties for non-compliance. When adopted, those steps will make shipping the first industry with globally binding greenhouse gas regulations and emissions pricing.
While multiple compliance pathways exist today, the increasing GFI stringency and higher penalties will progressively favour scalable zero-emission fuels, pushing the industry away from fossil fuel-based options such
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