Lack of regulatory framework holding up decarbonisation progress
Despite the need for speed, the shipping industry does not have the tools to decarbonise quickly enough to meet its own targets. Without a clear regulatory framework on which shipowners and operators can base their investment decisions, shipping’s decarbonisation process will be too slow. As a result, any chance of the industry itself, through the IMO, retaining control of its own decarbonisation process will be lost.
These were some of the key points made by speakers at a webinar yesterday, staged jointly by LR and the Environmental Defense Fund (EDF) and chaired by Katharine Palmer, LR’s Global Head of Sustainability.