Why in the news?

• Under pressure from the United States, member nations of the International Maritime Organization (IMO), including India, deferred a vote on a strategic roadmap aimed at steering the global shipping industry away from fossil fuels and achieving ‘net-zero’ emissions by 2050.

Carbon-Free or Net-Zero Shipping

• What is it?: Carbon-free shipping refers to maritime transport that emits zero greenhouse gases (GHGs) on a lifecycle basis, primarily through the adoption of alternative fuels, clean propulsion technologies, and efficiency-enhancing designs.
• Rationale Behind: The shipping industry is vital to global trade, carrying around 90% of international goods, but it also contributes nearly 3% of global CO₂ emissions.
• Key Pathways to Net-Zero Shipping:
  • Clean fuels: Green hydrogen, green ammonia, methanol, and biofuels.
  • Energy efficiency: Hull optimization, wind-assist propulsion, and speed management.
  • Operational measures: Route optimization and digital monitoring for carbon intensity.
  • Market-based tools: Global carbon pricing and fuel standards drive ship owners toward clean energy.
• Significance of Carbon Free Shipping Initiative:
  • Global Importance:
    • Establishes the first sector-wide international carbon pricing system.
    • Supports global alignment with Paris Agreement temperature goals.
    • Encourages innovation in maritime fuels and propulsion technologies.
  • Significance for India:
    • Opens opportunities for green hydrogen and ammonia production as marine fuels.
    • Promotes port decarbonization under India’s Harit Sagar initiative.
    • Aligns with India’s Panchamrit goals and Maritime Vision 2030.
• Challenges:
  • High cost and limited supply of zero-carbon fuels.
  • Technological barriers: Onboard fuel storage, safety, and retrofitting needs.
  • Equity issues: Potential trade impact on developing economies, LDCs, and SIDS.
  • Global coordination: Requires robust verification and enforcement regimes.