Decarbonisation Group Warns of Investment Risks if Net-Zero Framework Adoption Falters

The Getting to Zero Coalition has warned that failure to adopt the IMO’s Net-Zero Framework next month could undermine critical investment in shipping’s decarbonisation.

The group has urged IMO member states to adopt the framework when put to a vote next month, it said in a statement on Tuesday.

During the MEPC 83 session in April, IMO member states agreed on a package of measures to reduce the industry’s emissions. That framework will now be considered for adoption at an extraordinary MEPC meeting next month.

The coalition welcomed the April agreement but stressed the need for political will to formalise and refine the framework over time.

The group noted that the energy transition is already underway, with companies ordering vessels capable of running on alternative fuels and suppliers positioning shipping as a key new market.

But it warned that “a failure to adopt the framework risks significant negative consequences for this momentum.”

“Prolonged uncertainty could put very large investments—ones that will be critical for the future of global trade—at risk.”

The IMO’s October decision will therefore carry weight well beyond emissions, the coalition said, underlining the importance of multilateralism and global regulation to ensure the transition happens fairly and efficiently.

The non-profit organisation, formed in September 2019, is an alliance of more than 200 companies, including firms from the maritime and finance sectors.