UNCTAD calls for a "just and equitable transition" to a decarbonized shipping industry in its Review of Maritime Transport 2023 launched ahead of World Maritime Day (28 September).
It highlights the pressing need for cleaner fuels, digital solutions and an equitable transition to combat rising carbon emissions and regulatory uncertainty in the shipping industry. But this comes with substantial costs covered in this new report.
The shipping industry accounts for over 80% of the world's trade volume and nearly 3% of global greenhouse gas emissions, with emissions escalating by 20% in just a decade.
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