The recent EU–US trade deal, committing the European Union to purchase $750 billion in US energy products through 2028, raises a fundamental question: how serious are global actors about their decarbonisation pledges? With the 80th session of the UN General Assembly (UNGA) approaching, the world will be watching closely. Will commitments to reduce emissions, including in the maritime sector, translate into concrete action? How will the debates at UNGA 2025 shape the path toward a truly decarbonised and climate-resilient maritime transport?
Taking a step back, at the beginning of April 2025, the International Maritime Organisation (IMO) hosted a decisive round of negotiations in London on measures to decarbonise the shipping sector by 2050. Despite the difficult geopolitical climate, with rising tensions and the retreat of the US from multilateral fora, delegates achieved a meaningful breakthrough. Countries agreed on two core pillars: a global fuel standard and the introduction of a pricing mechanism for shipping emissions. During these negotiations, the EU, which already had a robust decarbonisation framework in its regional legislation, pushed for the adoption of even more ambitious standards at the international level.
The framework adopted at the 83rd session of the Marine Environment Protection Committee (MEPC) is not as ambitious as many had hoped, but it is nonetheless a major step forward in international maritime climate governance. Yet this is not the end of the journey, a delicate implementation phase lies ahead all the way to 2027. Several steps remain before the framework can be put into practice, and the EU must be on guard against attempts by the US or Saudi Arabia to derail these negotiations.
In September, an IMO working group will discuss ways to accelerate the use of alternative fuels, a crucial measure for meeting global fuel standards and avoiding penalties under the pricing mechanism. In October, the framework is set to be formally adopted, a decisive stage where it is essential for countries to solidify their commitments. Yet this progress is fragile: the United States has withdrawn from the negotiations and is actively seeking to weaken the IMO’s efforts, even threatening reciprocal action against countries that support a global carbon tax on maritime shipping. Such political dynamics inevitably affect the industry’s position, as shipping companies face potential economic disruptions and uncertainty over the implementation of the regulatory framework. Finally, in the spring, guidelines for implementation will be approved. This is why it is so important not to lower the guard and to ensure that these final steps are not only ambitious on paper but also translate into concrete actions.
What’s needed for implementation?
Although guidelines are legally soft and non-binding, they play a crucial role in shaping how the framework is interpreted and applied. Consequently, their development can significantly influence the ambition and impact of the agreed framework.
This is especially important when it comes to the planned reward system for alternative fuels, which is meant to encourage the shipping sector to move away from heavy oil. A key question is how “alternative fuels” will be defined. If the rules are too weak and accept fuels that only deliver minimal improvements, the mechanism will remain largely symbolic. To make a real difference, the criteria must be clear and ambitious, close loopholes, and be backed by transparent monitoring and trustworthy systems to measure emissions.
The challenge here is not only regulatory but financial. The IMO Fund will channel revenues from the pricing mechanism. Although its design remains somewhat unclear, it is crucial that it guarantees equitable disbursement, especially for developing countries and small island states that are both highly dependent on maritime trade and highly vulnerable to climate change.
Encouraging developments on the funding aspect emerged from the Blue Economy and Finance Forum (BEFF) held in Monaco this June. It showcased more than €25 billion in identified investments for ocean transition projects with a further €8.7 billion committed to accelerating it, from decarbonising maritime transport and ports, to restoring marine ecosystems, developing ocean energy, and advancing marine biotechnology. This multisector mobilisation, driven by public, private, philanthropic, and financial actors, shows that the potential of “blue finance” is vast, and is finally beginning to be realised.
No room for backtracking: aligning action with climate pledges
With the opening of this decisive phase, ambitious and concrete commitments are essential and expected in the upcoming IMO discussions, with no room for backtracking. Most importantly, it is essential that countries align their actions with their climate pledges, starting with the EU, charting a genuine course toward decarbonisation, the phasing out of fossil fuels, effective climate action, and the protection of ocean health. At the same time, governments should stand firm against political pressure, notably from the US, and industry leaders should avoid being drawn into obstructionist positions. Instead, this is the moment to demonstrate collective resolve and ensure the IMO framework delivers tangible progress toward a resilient and decarbonised maritime sector.