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.

In April, more than 40% of companies said they were exploring EV trials — by late summer, that number had fallen to 13% to 17%.

The DOE will also take a 5% stake in Lithium America and General Motors' Thacker Pass lithium mining project currently under development in Nevada's Humboldt County.

The IMO highlighted a series of recent initiatives, from the adoption of an action plan to cut marine plastic litter, to the development of a global biofouling framework to stop invasive species.

As climate change fuels drought conditions and raises costs, farmers are blending tradition with technology to boost yields and reduce waste.

Scope 3 emissions are 21 times higher on average than Scopes 1 and 2 combined, yet just 24% of companies currently report Scope 3 emissions, and only 8% have set targets to reduce them.

The ship has a 7,500 car equivalent unit capacity, and is expected to deliver what Sallaum believes will be "substantial" reductions in carbon emission. 

The two nations say they could suffer “dire” economic consequences if they are forced to harvest less forest for wood products in order to meet their EU-mandated climate targets.

The IMO’s NZF won’t be effective in helping shipping decarbonize in line with the IMO’s strategy announced in 2023 or ensuring a level playing field, the group of shippers said.