[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [ACTIVE] · [BUSINESS]

2 clusters · 8 sources · 4 days · First seen · Last updated

IMO Net-Zero Framework negotiations

Overview

Negotiations for the International Maritime Organization (IMO) Net-Zero Framework (NZF) concluded in London without a final agreement. The discussions focused on establishing an international framework to reduce greenhouse gas emissions from the shipping industry.

While a definitive regulatory text was not adopted, some convergence was observed regarding a Greenhouse Gas Intensity (GFI) trajectory. Most states appear to be moving toward a single GFI limit rather than two, with potential flexibility in early years and a review clause to adjust for fuel availability.

Significant disagreement persists over the proposed economic mechanism. While initial estimates suggested annual collections could reach $180 billion by 2038, recent modifications may lower initial annual collections to between $10 billion and $15 billion. The United States and several other nations have expressed opposition or concerns regarding the existence of such a mechanism and the IMO’s capacity to manage the resulting capital. Disagreements also remain among oil-producing nations regarding cost concerns and the management of generated resources.

Entities

United States · International Maritime Organization · European Union · Saudi Arabia · Net-Zero Framework

Timeline

  1. 6 days ago

    [BUSINESS] 2 sources
    IMO fails to reach agreement on Net-Zero Framework

    The IMO concluded its Net-Zero Framework session in London without a final agreement, facing disputes over a proposed economic mechanism and fund management.

  2. 10 days ago

    [INTERNATIONAL] 6 sources
    IMO Net-Zero Framework negotiations conclude without agreement in London

    IMO climate negotiations in London ended without a new agreement as member states remain divided over carbon pricing mechanisms and fund management for maritime greenhouse gas reductions.

Sources

baublatt.ch · elestrechodigital.com · lacronicadebadajoz.elperiodicoextremadura.com · lasemainedansleboulonnais.fr · naftikachronika.gr · ocio.diariodemallorca.es · portnet.gr · thepressroom.gr