Decarbonization has risen rapidly up the agenda of shipping CEOs. The shipping industry—one of the most costly and challenging sectors to decarbonize—faces growing calls by shareholders, regulators, customers, and other stakeholders to decarbonize at a pace commensurate to the needs of a warming planet. The EU, International Maritime Organization (IMO), and individual countries are tightening carbon regulations, while customers and clients want decarbonized shipping to meet their own Scope 3 decarbonization targets.
The same goes for lenders trying to decarbonize their lending portfolios,