International Marine Organisation regards a climate deal it has signed as historic even as critics say it is vague.The International Maritime Organisation, overseer of the highly-polluting shipping industry, sealed a landmark deal Friday to improve its target to cut carbon emissions but green campaigners said it fell far short.
Shipping emits roughly the same level of greenhouse gases as aviation, which is aiming for net zero by 2050.A deep dive into the big business story of the week, as well as expert analysis of markets and trends.The deal came at the end of a five-day meeting at the IMO's headquarters in London, attended by representatives from 100 countries.
Shipping is responsible for around three percent of global greenhouse gas emissions according to the UN.Non-governmental organisations with a focus on climate slammed the agreement, arguing it was insufficient under the framework of the landmark Paris climate accord. "They knew what the science required, and that a 50% cut in emissions by 2030 was both possible and affordable.