The International Bunker Industry Association (IBIA) has urged the IMO to adopt the Net-Zero Framework at next month’s session, saying it is “imperative” to achieve the target of net-zero greenhouse gas emissions by or around i.e., close to 2050.”
“At stake though is not just the future energy transition of international shipping and the goal of decarbonising the sector but also the credibility of the governance framework for regulating shipping that has enabled the vast expansion of global trade and commerce over the past 50 years,” IBIA said.
The organisation added that “a failure to maintain this role risks the proliferation of national and regional carbon-pricing mechanisms, leading to additional barriers to trade.”
Following adoption, IBIA said it “supports, as a priority, the development of and finalisation of the mechanism for rewarding ships that use Zero/Near-Zero (ZNZ) fuels so incentivising their uptake.”
It also pointed to an “urgent need for further clarification on key issues including the possible use of default emission factors for bunkering,” adding that adoption “will provide regulatory certainty, support investment in low- and zero-carbon fuels and enable the shipping industry to meet its climate goals.”
