GHG Environmental regulation(Global)
According to the 4th GHG Study of the International Maritime Organization (IMO), carbon dioxide (CO2) emissions from international shipping increased by approximately 5.6% from 701 million tons in 2012 to 740 million tons in 2018, accounting for approximately 2-3% of global CO2 emissions during this period. International shipping greenhouse gas emissions are not included in the national emission statistics and reduction regulations required by the United Nations Framework Convention on Climate Change (UNFCCC), and IMO has been entrusted with discussing greenhouse gas reduction under Article 2, Paragraph 2 of the Kyoto Protocol.
Accordingly, IMO is continuously discussing technical and operational reduction measures to reduce greenhouse gases from ships. In April 2018, the Initial IMO GHG Strategy was adopted at the 72nd IMO MEPC meeting.
And at the 80th MEPC meeting in July 2023, the following intermediate goals were additionally set:
- By 2030, at least 5% of the energy used in international shipping will be from zero or near-zero greenhouse gas emissions technologies, fuels and/or energy sources.
- Raise the mid-term targets for 2030 and 2040 to achieve net-zero greenhouse gas emissions from international shipping by around 2050.
These goals are the result of ongoing discussions and regulatory strengthening by the IMO, which is accelerating the decarbonization of the shipping industry. These regulations are considering low-carbon/carbon-free fuels to replace existing fossil fuels, and the demand for related technologies is increasing. According to the IEAs 2023 report, hydrogen and ammonia, which currently account for less than 1% of ship fuel consumed in shipping, are expected to increase significantly to 22% in 2030 and 63% in 2050. In addition, the demand for fuel cell ships using these fuels is also expected to increase significantly.

- Source: IEA, “Net Zero Roadmap: A Global Pathway to Keep the 1.5 °C Goal in Reach” (2023)