News / Shipping's bill for meeting IMO 2050 emissions target could be $1.4trn

Young blurred sub-designer sitting in the office and designing ship for future construction, with digital drawing on tablet PC. Ship design, construction and vessel architecture concepts.

ID 156140526 © Denys Yelmanov | Dreamstime.com

21/01/2020

The financial cost of meeting the International Maritime Organization’s 2050 shipping industry emission targets could be as much as $1.4 trillion over the next 30 years.

The sum – equivalent to the Spain’s national GDP return last year – would be spent on helping shipping reach the 2050 target of emitting just 50% of 2008 levels, according to a report from the University of London’s maritime research unit and the Getting to Zero Coalition.

Aiming for zero emissions by that date would ...