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Decarbonizing the Maritime Industry: Targets, Challenges, and Solutions
The chapter delves into the goals set by the International Maritime Organization (IMO) to achieve net zero emissions by 2050, including a 20% reduction target for 2030. It discusses the challenges faced in meeting these targets due to slow industry innovation but highlights individual shipping companies setting their own net zero emission goals. The conversation explores policy interventions like the EU emissions trading system and fuel schemes, emphasizing the need for global adoption of newer fuels and technologies for aggressive emission reduction in the shipping industry.