ING Economist Warns of Major Setback if IMO's Net Zero Framework Fails Adoption
ING economist Rico Luman states that any attempt to weaken the IMO's Net Zero Framework is unlikely to gain US support.
Rico Luman, senior economist at ING, notes that the outcome of the Marine Environment Protection Committee (MEPC) vote on the proposed framework remains uncertain due to mounting US opposition and threats of retaliatory tariffs.
The US is clearly pressuring other member states to reject the agreement and is threatening retaliatory tariffs. This essentially amounts to coercing countries into aligning with its position, which is unjust.
Earlier this year, there was a clear majority in favor of the deal, including support from large container lines, shipping bodies such as BIMCO, ICS, and WSC, and major ports.
Author's summary: ING economist warns of major setback if IMO's Net Zero Framework fails adoption.
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