SIMIC

"Our challenge as a hard-to-abate sector is that the technology and fuels needed for a transition to zero CO2 are not yet available," said WSC chief executive John Butler.

Mr Butler declared it was encouraging to see the maritime sector being included in discussion between governments at the recent COP26 climate change talks in Glasgow.

"It is then all the more disappointing to watch the same governments that were making lofty statements at COP26 just days ago, again fail to walk the talk when it comes to real action at the IMO," said Mr Butler.

A series of executives from major carriers warned delegates at COP26 that the greatest threat to decarbonising the industry was the lack of political investment in developing green technology.

Said International Chamber of Shipping (ICS) chairman Esben Poulsson: “The net-zero carbon pathway that we have all committed to is not achievable without a rapid and unified increase in research and development [R&D] spending."

Said Mr Butler: "The goal for liner shipping is clear: move away from fossil fuels as quickly as possible. The people of the world depend on trade, and we must make efficient trade possible without the climate impact of today - the sooner the better. It is a moral imperative, keenly felt by us working in the industry, as much as it is what our customers and investors demand."