The International Maritime Organization (IMO) approved a standard on marine fuels for ships on Friday, as well as a global greenhouse gas (GHG) emissions pricing mechanism, seeking to achieve decarbonization in global shipping by 2050.

These measures, approved by the Marine Environment Protection Committee (MEPC) at its 83rd session (MEPC 83) in London, England, are expected to be adopted next October before coming into force in 2027.

The standard will be mandatory for large seagoing vessels exceeding 5,000 gross tons, which, according to the IMO, emit 85% of total carbon dioxide (CO2) emissions from international shipping.

With this policy, which was supported by 63 countries, the tax is expected to generate between $30 and $40 billion in revenue by 2030, approximately $10 billion annually .

Furthermore, the agreement is projected to help reduce absolute GHG emissions in the shipping sector by 10% by 2030.

Starting in 2028, ships will be required to switch to low-carbon fuel blends or pay for their excess emissions. Ships that continue to use conventional fossil fuels will be charged a fee of $380 per ton on the most emissions-intensive portion of their fuels, and $100 per ton on any remaining emissions above a certain threshold.

This new agreement was reached following the approval of amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) , in its Annex VI, which deals with air pollution caused by ships.

“The approval of the draft amendments to MARPOL Annex VI establishing the IMO net-zero emissions framework represents another step in our collective efforts to combat climate change and modernize shipping, and demonstrates once again that IMO is delivering on its commitments,” said IMO Secretary-General Arsenio Domínguez.

MARPOL Annex VI currently has 108 Parties, covering 97% of the world’s merchant fleet by tonnage.

“The objective is to achieve the climate targets set out in the IMO’s 2023 Strategy on Reducing GHG Emissions from Ships, accelerate the introduction of zero- and near-zero GHG-emitting fuels, technologies, and energy sources, and support a just and equitable transition,” the United Nations agency stressed .

According to the draft rules, the implementation of a global standard to reduce the GHG intensity of marine fuels is included .

“Vessels that emit above GFI thresholds will be required to purchase recovery units to offset their shortfall emissions, while those using zero- or near-zero GHG emission technologies will be eligible for financial rewards,” the regulations state.

According to the statement, ships emitting above the established thresholds can offset their emissions deficit by transferring surplus units from other ships; utilizing surplus units they have already accumulated; and using recovery units acquired through contributions to the IMO’s Net-Zero Fund .

The IMO has established the Net-Zero Fund to collect contributions from emissions pricing, the proceeds of which will be used to reward low-emission vessels and support innovation, research, infrastructure, and just transition initiatives in developing countries .

Also, in funding training, technology transfer, and capacity building to support the IMO’s 2023 GHG Strategy, as well as mitigate the negative impacts on vulnerable States.

Among the outcomes of MEPC 83 were the approval of a proposal to designate the Northeast Atlantic Ocean as an Emission Control Area and agreement to designate two new Particularly Sensitive Marine Areas off the Pacific coast of South America. In addition, the draft work plan for the development of a regulatory framework for the use of on-board carbon capture systems was approved.

According to the World Economic Forum (WEF) , more than 80% of the world’s traded goods move by ship, and maritime transport accounts for between 2% and 3% of global greenhouse gas emissions, so this measure could represent a step forward in global decarbonization goals.

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The countdown to maritime decarbonization is on, and time is running out. The global challenge is to achieve zero greenhouse gas (GHG) emissions in maritime transport activities, which contributes 3% of total emissions and represents 5% of international oil demand. The next 25 years will be crucial to achieving this ambitious goal, in a sector that navigates at different speeds and has set specific deadlines (a 30% reduction in GHG emissions by 2030, 80% by 2040, and net zero by 2050).

As part of the agenda for greater maritime sustainability, the 175 member countries of the International Maritime Organization’s (IMO) Marine Environment Protection Committee are expected to discuss and agree on specific measures to be implemented in the medium term at the next meeting (April 7-11, 2025). On the technical side, the goal is to establish a standard for measuring the energy efficiency of existing vessels; and on the economic side, the introduction of a tax on vessels and their GHG emissions (with proposals ranging from $30 to $120 and $150 to $300 per ton of emissions), for now for vessels over five thousand gross tons and only on international voyages.

According to the United Nations Conference on Trade and Development (UNCTAD) , the IMO could raise up to $127 billion annually from 2027 to 2030 with a tax of $150 to $300 per tonne of GHGs, while revenues would average $103 billion from 2031 to 2040 and $36 billion from 2041 to 2050.

A tax of $30 to $120 per ton would raise $30 billion annually in the 2027-2030 period , and $34 billion and $6 billion in the 2031-2040 and 2041-2050 periods, respectively.

This proposal envisions allocating the revenue raised to least developed countries to support their efforts to combat climate change, focusing on developing strategies and measures for the maritime sector. However, the administrative aspects of who would distribute these funds and how are still unclear ; these points could be defined at the IMO committee meeting if the tax is implemented.

Supporting the tax are countries in Africa, the Caribbean, the Pacific and Asia , including several maritime powers and key players such as Panama, the Marshall Islands, Liberia, Greece, Malta, Japan and the Republic of Korea, as well as the International Chamber of Shipping.

“With this tax, there will be a very clear path, where significant investments will go toward scalable zero-emission fuels, that is, hydrogen derivatives,” says Tania Miranda, director of the Environment and Climate Change Program at the Institute of the Americas (IOA) , in an interview with T21.

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For the past two years, a group of business and civil society organizations has promoted an agenda that seeks to raise awareness and encourage action among all stakeholders involved in the maritime decarbonization process in Mexico , both private and public.

They themselves have worked on the route that the maritime-port sector must follow in the coming years in its ambitious goal of achieving net zero polluting emissions by 2050, in line with global trends.

In July 2023, the Mexican Chamber of the Maritime Transport Industry (Cameintram) and the World Wildlife Fund (WWF) in its Mexican chapter signed a collaboration agreement formalizing the joint work points on the decarbonization agenda, which was later joined (February 2024) by the Institute of the Americas .

Last week, these same organizations signed an addendum to their tripartite agreement , in which they committed to working on even more specific points, such as a diagnosis of maritime transport emissions in Mexico; the joint dissemination of the topic of decarbonization and maritime and port sustainability; and the development of a critical path or strategy with actions and recommendations for the maritime sector.

The progress of the agreement is already noticeable. At the same meeting, the emissions assessment was presented , an analysis that began in the middle of last year.

Salomón Díaz, maritime decarbonization coordinator at WWF Mexico, explained that the inclusion of the maritime sector in global climate change discussions is recent; in fact, the revised International Maritime Organization (IMO) strategy itself was only established in 2023, outlining the course to be taken in the coming years to achieve net zero.

However, the IMO has pushed to begin generating action in the sector. One of the main strategies presented—and supported by just over 60% of member countries—has been the possible implementation of a maritime tax for shipping lines on international voyages, a measure that establishes emission limits or requires payment of a tax for excess emissions. This proposal will be debated and likely ratified at the next meeting of the IMO’s Marine Environment Protection Committee, from April 7 to 11.

“The fruits of this labor have begun to materialize,” said Eric Serratos, founding partner and executive director of SEA Energy Associates , a maritime specialist that has supported and advised these organizations in the development of the diagnostic document.

The authors of this document aim to establish a roadmap for the maritime and port sector to begin measuring its emissions, set and implement goals, and monitor and publish their results.

Although at least 10% of Cameintram members offer international services, the chamber’s leaders are aware that future international measures could also include domestic or offshore travel , where the majority of these companies in Mexico operate.

“They shouldn’t feel left out,” said José Manuel Urreta, president of Cameintram, who maintained that this business organization will continue working together on the maritime decarbonization agenda.

Champions

One of the initiatives that Cameintram, WWF Mexico, and the Institute of the Americas have implemented to highlight companies that have begun to make efforts toward decarbonization is the establishment of a recognition program called “Champions of Sustainable Maritime Transport and Ports in Mexico . “

During the meeting held by these organizations , recognition was given to the companies Baja Ferries and Navalmex for their contributions to decarbonization , but mainly because they already carry out actions such as measurement, planning, implementation/monitoring and publication of their results.

Contecon Manzanillo is another company in the sector that has received this recognition.

Upcoming events

These actors, who have been driving the maritime decarbonization agenda, announced that a virtual conference entitled “IMO Negotiations on Economic Measures for the Decarbonization of the Maritime Industry” will be held on March 27 .

This conference will feature two panelists from the Navy , specifically the Port Authority and Maritime Affairs Unit (Unicapam) , and other organizations such as UMAS and AIDA.

Likewise, the 2nd Binational Forum on Maritime Transport and Sustainable Ports of the Three Californias was reported , to be held on June 26 and 27, 2025, in the port of Ensenada, Baja California, where leading organizations focused on climate change and that have made efforts to address the agenda in the maritime and port sector will meet.

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