Please kindly see attached the final press release, at Annex A, of a ‘Zero Emission Shipping Fund proposal submitted to the UN IMO to deliver on shipping’s net zero targets’ that has been shared with the media.

There has been one amendment to the original release as we are pleased that the Commonwealth of The Bahamas are also cosponsors of the proposal with the Republic of Liberia and this has been highlighted in the release.

• The International Chamber of Shipping (ICS), the Commonwealth of The Bahamas, and the Republic of Liberia submit a detailed proposal to the UN IMO for a Zero Emission Shipping Fund to accelerate the transition to net zero by 2050.
• The fund will incentivise accelerated production and uptake of zero GHG marine fuels and technologies and provide billions of dollars to support transition in developing countries.
• Governments urged to approve fit-for-purpose proposals to meet their commitment to adopt a maritime GHG emissions pricing mechanism in 2025.

Please find the full press release attached in Annex A.

ICS – COMMUNICATIONS(24)06 -Annex A – Press Release – Zero Emission Shipping Fund proposal submitted to UN to deliver on shippings net zero targets