New IMO framework gets cautious industry welcome
- Some see ‘an important first step towards the first global greenhouse gas price structure for any industry’
- But concerns are mounting it will send the industry mixed signals on green fuels
- Complexity of two-tiered approach to compliance, and low near-term penalties might not deter the use of carbon-intensive fuels
Shipping groups are busy trying to crunch the numbers in the new IMO Net Zero Framework, with concerns its low carbon price will fail to clean up the industry