Speaking at the meeting, ICS added that all economic activities, such as international shipping, should put their best efforts to eliminate GHG emissions as soon as possible via short-term measures as speed optimisation and longer term measures such as the use of zero-carbon fuels.
ICS commented that
Now we need to redouble our efforts to deliver further dramatic improvements in fuel efficiency, as demanded by governments and society at large.
The Chamber further stated that the industry's transition towards zero CO2 emitting fuels, also known by ICS as "Fourth Propulsion Revolution", is a challenge, but it is a step that the industry will embrace.
This will require truly massive investment in research and development, which ICS believes must be at the heart of the IMO GHG Strategy if the ambitious reduction targets that IMO Member States have set are to be met.
ICS concluded that in light of the industry's efforts in complying with IMO's 2020 sulphur cap and commitment to meet the Paris Agreement goals, the successful delivery of the IMO targets have a chance of decarbonizing the industry at a much faster rate than the rest of the world economy, "whose emissions are projected to continue increasing for at least a further 10 years".