A new study published in Marine Policy by UCL Energy Institute, Wageningen University & Research, and University of East Anglia finds that private voluntary standards in the shipping sector, such as the Poseidon Principles and Climate Bonds Initiative, are becoming more ambitious and reliable, but still fall short of climate targets.
As informed, the study analysed five post-2018 standards using content analysis and interviews, revealing that while there have been improvements, no single initiative scored highly across the key criteria of ambition, transparency, and reliability.
Ambition and transparency gaps limit effectiveness
The newer standards demonstrate stronger climate commitments than their pre-2018 counterparts, often covering broader emission scopes (including CO₂, N₂O, CH₄ on a well-to-wake basis). However, most still mirror rather than exceed IMO targets, falling short of the reductions required to meet the Paris Agreement’s 1.5°C pathway. A significant gap persists between participants’ stated ambitions and their actual actions.
While transparency has improved, such as public disclosure of aggregated climate alignment scores, standards fail to publish granular data at the vessel or company level, limiting accountability and the ability to inform commercial decisions.
Reliability improves, but reforms are needed
Many newer standards now use more robust operational emissions metrics (e.g., AER and EEOI) and draw from third-party verified datasets like the IMO DCS or EU MRV. However, reliance on AER, which doesn’t reflect actual cargo carried, and the allowance of self-reported data in some cases, still weakens overall reliability.
Interviews highlighted that key drivers of improvement include investor pressure, the involvement of neutral platforms like the Global Maritime Forum, and participation from across the value chain.
Relevance at risk without urgent reform
Dr Nishatabbas Rehmatulla warns that private standards must move beyond minimum compliance to remain relevant as the sector nears a regulatory phase of transition. With the industry currently off track to meet the 2030 zero-emission fuel target, and new IMO climate policies coming into force in 2027, voluntary standards aligned only with existing regulations risk becoming obsolete.
For real impact, they must urgently raise ambition and transparency to help accelerate the shipping industry’s decarbonisation, the research finds.
