The maritime and shipping industry, a vital component of global trade and a significant contributor to global greenhouse gas emissions, is facing mounting pressure to achieve net-zero targets.
The Decarbonization Imperative
The sector is responsible for moving 80% of global trade and accounts for 3% of global greenhouse gas (GHG) emissions. In response to this, the International Maritime Organization (IMO) set a net-zero emissions target for international shipping by or around 2050, requiring unprecedented shifts in fuel use and technology.
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Source: S&P Global
