The shipping industry faces increasing demands to significantly reduce its carbon emissions, which contribute to global warming.

Currently, maritime transport emits an amount of CO2 equivalent to that of Germany in a single year, making it the largest sector worldwide without a specific target for achieving emissions reductions to "net zero." Ahead of the UN summit commencing on Monday, some delegates are pushing for a goal of achieving net zero emissions by 2050, with a target of halving emissions by 2030.

Advocates describe this objective as the pivotal climate "agreement of the decade" if it is successfully adopted. Achieving "net zero" would entail ensuring that any remaining shipping emissions are balanced by actively removing greenhouse gases from the atmosphere.

The shipping industry, along with governments and environmental organizations, has long been engaged in discussions and negotiations to find ways to make maritime transportation more environmentally friendly.

Addressing the issue was considered too complex to be included in the 2015 Paris climate agreement, which aimed to limit global warming. This matter is of significant importance because approximately 90% of the world's goods and products are transported by sea.

Unfortunately, many of these vessels rely on highly polluting fuels, resulting in maritime shipping contributing up to 3% of global carbon dioxide emissions. This amount is comparable to the emissions of Germany or 243 coal plants.

Experts have issued a warning that if stronger measures are not taken, emissions from the shipping industry could increase by up to 50% by the mid-21st century. The current plans of the shipping industry only aim to reduce emissions by 50% by the same time period, a target that scientists argue is not aligned with the goals of the Paris climate agreement.

This week, representatives from 175 countries in the shipping industry will convene in London under the auspices of the United Nations' International Maritime Organisation (IMO) to discuss a new timeline for achieving complete decarbonization of their sector. Advocates are pushing for a more ambitious goal, including a reduction of around 50% by 2030 and a new target of achieving net-zero emissions by 2050. Some go even further, proposing full decarbonization by 2040.

According to Kerrlene Wills, Director for Ocean and Climate at the UN Climate Foundation, getting this right can align the shipping sector with the temperature targets of the Paris agreement and stimulate investments in green technologies that will revolutionize the industry.

Several countries and shipping companies, including Maersk, the world's second-largest container shipping line, are supportive of cleaner transport and have set their own targets for achieving zero emissions, such as Maersk's goal of zero emissions by 2040.

Past efforts to strengthen climate commitments within the International Maritime Organisation (IMO) have faced opposition from countries like China, India, and Saudi Arabia, who aim to protect their domestic shipping interests. Observers believe that if the meeting in London can agree on these new goals for the entire shipping industry, it would represent a significant step forward in the fight against climate change, comparable to the Paris agreement.

John Maggs from the Clean Shipping Coalition expressed that achieving such consensus would not only be a climate agreement of the year but possibly of the decade. While there is acknowledgment within the industry that reforms are necessary, concerns remain regarding the potential difficulty and cost of meeting new targets.

However, recent research indicates that cutting shipping emissions in half during this decade would only result in around a 10% increase in operational costs. The Secretary-General of the IMO, Kitack Lim, called on delegates to find compromises and solutions, emphasizing that 2023 is a year for decisive climate action.

Faig Abbasov from Transport and Environment echoed this sentiment, stressing the need for political will and urging the IMO to step up or step aside in the decarbonization effort.