Marine Transport is Responsible for Roughly 2.5% of Global CO2 Emissions

Decarbonizing the shipping industry is uniquely challenging. Ships require energy-dense, reliable fuels to power long voyages across the globe, leaving few viable low-carbon alternatives. Today, heavy fuel oil still makes up nearly 90% of marine fuel use, locking the sector into a fossil-heavy trajectory. Transitioning to greener options demands massive infrastructure investments—ports, bunkering systems, and vessels all need costly retrofits or replacements—slowing adoption at scale. Meanwhile, regulatory pressure is mounting: the International Maritime Organization (IMO) has set targets to cut shipping emissions by 40% by 2030 and 70% by 2050, alongside proposals for a global carbon price of $100 per tonne of CO₂ starting in 2028.