The International Chamber of Shipping (ICS) has voiced disappointment following the conclusion of the International Maritime Organization’s (IMO) Extraordinary Session of the Marine Environment Protection Committee (MEPC), held in London from October 14 to 17, 2025. The session ended without consensus on a proposed Net-Zero Framework that would have introduced the first global carbon pricing mechanism for any industrial sector.
The proposed framework aimed to establish a clear and unified path for the global shipping industry to transition toward net-zero emissions. It was expected to be a landmark agreement, setting a precedent for international cooperation on climate action within the maritime sector.
However, despite extensive discussions, member states failed to reach an agreement on the framework’s implementation. The ICS, which represents over 80% of the world’s merchant fleet, expressed concern over the lack of progress.
“We are disappointed that member states have not been able to agree a way forward at this meeting,” said Thomas A. Kazakos, Secretary General of the ICS. “Industry needs clarity to be able to make the investments needed to decarbonise the maritime sector, in line with the goals set out in the IMO GHG strategy.”
The IMO’s Greenhouse Gas (GHG) strategy, adopted in 2018 and revised in 2023, outlines a roadmap for reducing emissions from international shipping. It includes targets to reduce total annual GHG emissions by at least 50% by 2050 compared to 2008 levels, with an ultimate ambition to phase them out entirely.
The Net-Zero Framework discussed at the MEPC session was seen as a critical step toward achieving these targets. Central to the proposal was the introduction of a global carbon pricing mechanism, which would have placed a financial cost on carbon emissions from ships. Proponents argue that such a mechanism is essential to incentivize investment in cleaner technologies and alternative fuels.
The ICS has long advocated for a market-based measure to support decarbonization, emphasizing the need for a level playing field across the global shipping industry. Without a unified approach, the risk remains that fragmented regional regulations could emerge, potentially complicating compliance and increasing costs for shipowners.
“As an industry we will continue to work with the IMO, which is the best organisation to deliver the global regulations needed for a global industry,” Kazakos added.
The failure to reach consensus highlights the ongoing challenges in aligning the diverse interests of IMO member states. While many countries support ambitious climate action, others have raised concerns about the economic impact of carbon pricing on developing nations and the potential for trade distortions.
The ICS has urged continued dialogue and cooperation to ensure that the shipping industry can meet its climate commitments without compromising global trade. The organization reiterated its commitment to working with the IMO and its member states to find a viable path forward.
The outcome of the MEPC session is likely to have significant implications for the future of maritime decarbonization efforts. With the shipping industry responsible for nearly 3% of global greenhouse gas emissions, the need for effective and coordinated action remains urgent.
The ICS’s full statement can be accessed on its official website: www.ics-shipping.org.