The International Chamber of Shipping (ICS) said it fully supports the Net-Zero Framework (NZF) adopted by the International Maritime Organization (IMO) member states – the world’s first global emissions price for an entire industry. 

“This was a landmark step towards decarbonising international shipping and one that the International Chamber of Shipping has been advocating for and fully supports,” ICS said.

The global trade association for shipowners and operators, noted, however, that while “being fully supportive,” shipowners still have real concerns about how complicated the new rules could become, especially smaller to medium sized companies, who may struggle with compliance costs.

“So far, the focus has been on the penalties for emissions (‘the sticks’), but clear incentives (‘the carrots’) for cleaner fuels will be just as important,” ICS said in a statement.

It added that “it is these incentives that will motivate fuel producers to deliver the new fuels and infrastructure that will enable shipping to meet the targets.”

ICS also called on governments to quickly set clear standards for these cleaner fuels. 

“This will reassure fuel producers that investing in green fuel infrastructure makes sense.”

“In October, the IMO is expected to adopt these measures and give details about how these incentives will work.”

“Shipowners and energy producers need certainty on this so they can confidently make investments in cleaner technologies,” the shipping organisation representing around 80% of the world's merchant tonnage, added.

Thomas A. Kazakos, ICS Secretary General said the IMO needs to formally adopt the Net Zero Framework in October to send a clear signal to industry and provide the incentive needed to produce these cleaner fuels.

“Industry needs clarity, simplicity, and detail on the rewards,” Kazakos said. 

“We also call on those with unilateral and regional schemes, such as EU ETS, to agree to having one clear and transparent system under the IMO. This is critical if we are to meet the time frames set out.”

ICS noted that it has put forward submissions to the IMO to help clarify these issues, including a request to replace the word ‘may’ with ‘shall’ to ensure a clearer signal is sent to the market. 

Additionally ICS has responded to the EU Commissions consultation encouraging them to replace the EU ETS with the IMO NZF as soon as it is adopted. 

“Clear and simple rules are essential for shipping to successfully and quickly transition to net zero,” ICS said.

The IMO Net-Zero Framework, set to formally be adopted in October 2025 and to take effect in 2028, introduces fuel intensity limits and a global carbon pricing scheme aimed at cutting greenhouse gas emissions from international shipping. Targeting vessels over 5,000 gross tons, the regulation includes penalties for exceeding CO₂ thresholds and rewards for lower-emission performance.

The revenue will feed into the IMO Net-Zero Fund, supporting climate resilience and technological advancement across the sector.