Global Shipping Emissions Deal Sinks After Last-Minute Collapse
A decade-long effort to make the shipping industry adopt binding international emissions targets has fallen apart due to timing and cost issues.
The stalled framework would have required shipowners to cut the carbon intensity of their fleets or face penalties, a move welcomed by the industry for creating global consistency.
A decade-long effort to make the shipping industry the first to adopt binding international emissions targets has fallen apart—this time not over science or technology, but timing and cost.
The breakdown leaves oil demand from marine fuels largely untouched, bringing relief to refiners and traders watching for signs of a forced pivot toward costly biofuels or ammonia blends.
Author's summary: Global shipping emissions deal collapses.
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