Specifically, Kitack Lim highlighted the importance of IMO's role in setting regulations, as the new regulatory targets will be a catalyst for technology, triggering research, development and innovation, adding that now is the time to start developing the vessels, the fuels, the delivery mechanisms and all the other necessary infrastructure to support zero-emission shipping.

Mr Lim stressed that

When temperature records are routinely broken, icecaps are melting and some parts of the world are flooding while others are burning, there can be little doubt that addressing climate change must be humankind's major priority,

Furthermore, the Sec-Gen highlighted that shipping decarbonization cannot be achieved in isolation, supporting collaboration between infrastructure developments and investment decisions and research and development projects need to be conducted cross-sectorial.

Overall, IMO's goal, based on its GHG strategy, is to reduce shipping emissions by at least 50% by 2050.

Similarly, speaking during the World Economic Forum, Johannah Christensen, Managing Director, GMF, discussed shipping's decarbonization and the efforts needed to achieve a greener and more sustainable maritime industry through investment.