The International Chamber of Shipping is proposing a subsidy system for the use of green fuels to achieve net zero targets

International Chamber of Shipping Proposes Subsidy System for Green Fuel Use to Reach Net Zero Goals

Shipowners worldwide have agreed to mandatory contributions towards ships’ greenhouse gas emissions to accelerate the merchant shipping fleet’s transition to net-zero emissions by 2050. The proposal includes funds for developing countries, new bunkering infrastructure, and a global carbon pricing mechanism. The proposal will be considered by IMO member states at their next meeting.

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