
Shipping accounts for 3% of global greenhouse gas emissions and remains heavily dependent on conventional fossil fuels.
The IMO has a critical role to play in ushering in the new fuels required for a decarbonized future for global shipping. To succeed, ZNZ fuels must be made as affordable as today’s fossil fuels. A clear business case for ZNZs is essential.
The Member States of IMO can make this happen by agreeing on measures that ensure price parity for scalable ZNZ fuels, and strong financial incentives for ZNZs from day one. If the cost gap is not closed between existing alternatives and ZNZ fuels, the shipping industry will always choose the most economically sustainable option.
Yara’s key policy asks
By incorporating the following principles, the IMO can create a powerful and effective framework that accelerates the transition to ZNZ fuels, ensuring a fit-for-future shipping industry.
Polluter Pays Principle
A GHG levy ensures fair fuel costs and drives ZNZ fuel adoption.
End Fossil Fuel Advantage
IMO must remove fossil fuel cost benefits to speed up decarbonization.
Rewards for ZNZ Fuels
Policies should incentivize low-emission fuel adoption under IMO's strategy.