The IMO's vote to delay its Net-Zero Framework creates an uncertain future for the maritime industry's plans to decarbonize its global shipping fleets.

On October 22, Trump’s energy department announced it had provided a final export approval for Venture Global’s CP2 project, a vast planned LNG terminal on Louisiana’s coast.

To fully address the problem of shipping’s enormous carbon footprint, demand reduction is required to bring shipping in line with necessary decarbonization targets.

The forum aims to bring together stakeholders across the maritime industry to discuss ocean conservation and the future of sustainable shipping.

GM said the financial hit from tariffs this year would be $3.5 billion to $4.5 billion, less than the previous estimate of $4 billion to $5 billion.

An emissions-trading scheme to cover buildings and road transport is due to kick in in 2027, but has been criticized by many member states. 

Although biofuels create far fewer emissions in transport than standard oil-based fuels, many biofuels still come at significant environmental costs.

Industry insiders had previously expected the rules, years in the making, to pass, despite U.S. pressure.

Dubbed ONE LEAF+, the service allows shippers to transport cargo on ships using UCOME biofuel, which generates 84% fewer carbon emissions compared to standard marine fuel.

While roughly 40% of firms closely track their Scope 1 and Scope 2 emissions, less than half of those companies also measure Scope 3 with the same depth and accuracy.