World Shipping Industry Agrees to Reduce Carbon Emissions 50 Percent by 2050

"The initial strategy envisages for the first time a reduction in total GHG (Greenhouse Gas) emissions by at least 50 percent by 2050 compared to 2008," the IMO said in a statement.

Major shipping nations such as Saudi Arabia and the United States had objected to earlier drafts in two weeks of discussion at the 173-member organization based in London.

Some countries such as the Marshall Islands, which are at risk of rising seas but are also a major flag state, had wanted a stronger commitment and the EU wanted a 70- to 100-percent cut.

But the agreement was widely hailed by stakeholders.

"This is a ground-breaking agreement — a Paris agreement for shipping — that sets a very high level of ambition for the future reduction of carbon dioxide emissions," the International Chamber for Shipping's secretary general Peter Hinchliffe said.

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