All eyes on London as maritime industry readies to adopt first global carbon pricing scheme

Despite being far from perfect, the world’s first global carbon pricing scheme on any international polluter—global shipping— is expected to be adopted next week.

Countries will meet on October 14-17 for the Extraordinary Session of the Marine Environment Protection Committee (MEPC E.2) to formally adopt the International Maritime Organization’s (IMO) Net Zero Framework (NZF), designed to help achieve the IMO’s climate targets set out in the 2023 Revised Strategy.

The planned adoption of the legally-binding regulation will be followed by a round of technical negotiations (ISWG-GHG-20) on key details on design and implementation of this flagship climate regulation, on October 20-24.

Sealing the deal next week on the IMO NZF, agreed in a vote back in April, would be the biggest victory for climate diplomacy in recent years. It would also send an important signal ahead of the COP in Belém that multilateralism can deliver climate action.

Back in April 2025, the IMO agreed on the NZF in a vote at MEPC 83, with a clear majority of countries (63) voting in favor, including China, Brazil, the EU27, South Korea