IMO sets target on net-zero greenhouse gas emissions in major step forward

At MEPC 80 in July IMO member nations met the shipping industry's call for action on climate, setting a target of net-zero greenhouse gas (GHG) emissions by 2050 and interim targets for 2030 and 2040. In addition, the updated GHG strategy now sets a clear timeline for the development of the lifecycle-based global fuel standard and economic instrument, to be agreed by 2025 and ready for implementation in 2027.