Market Intelligence
IMO Working Group Advances Net Zero Framework with Support for GHG Pricing
A clear majority of member states at the IMO 22nd Intersessional Working Group backed a centralised revenue fund and greenhouse gas pricing structure.
The International Maritime Organization has concluded its 22nd Intersessional Working Group on Greenhouse Gas Emissions, reporting continued development on the global maritime Net Zero Framework.
During the sessions, roughly two-thirds of the member states that took the floor supported a centralised mechanism for revenue collection. The proposed system would operate through a greenhouse gas price, designated as an RU price.
Under the framework discussed, generated revenues would be disbursed to reward early adopters of zero- and low-emission solutions while facilitating a fair and equitable transition across the maritime sector.
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IMO makes steady progress on the Net Zero Framework, with large majority continuing to back GHG pricing and centralised fund to support shipping’s transitionGlobal Freight Briefing
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