Panama, Liberia and Argentina pitch LNG-friendly alternative to Net-Zero Framework with no carbon price
- Replacement would target just 10% cut in shipping emissions by 2049
- No IMO Fund, but transfer, banking and borrowing of Surplus Units allowed
- Plan would set GHG intensity targets based on fuel price and availability, rather than green credentials
Panama, Liberia and Argentina have pitched an alternative regulation to the Net-Zero Framework that would exclude any fuel from the outset if it costs more than 15% above the price of fuel oil
