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The Paris Climate Agreement was signed in 2015, but there is a gap in the equation: Emissions from international shipping and aviation do not come under any country’s jurisdiction by law, which means that the only way to monitor climate change is if the shipping and aviation industries take action.

In April 208, the International Maritime Organization (IMO) set plans to reduce the shipping industry’s emissions by 50% by the year 2050, compared to 2008 levels. One of the ways to achieve this is to impose speed limits on ships, which improves their fuel efficiency; a process referred to as slow steaming.

An open letter recently came out, signed by the CEOs of 107 shipping companies like Euronav and Louis Dreyfus Armateurs, to support the slowing down of ships with the goal of reducing carbon emissions. The letter said: “Effectively addressing climate change is possibly the greatest challenge of our time. The signatories to this letter unite in stressing the urgent need for shipping to make its appropriate contribution.”

However, more actions need to take place to reduce shipping emissions in line with the Paris Climate Agreement, as decreasing speed is not enough to do so on its own. To this end, the IMO also plans to promote the use of low-carbon fuels such as natural gas or zero-carbon options like hydrogen.