May 6, 2026 (LONDON) - Delegates at the 84th session of IMO's Marine Environment Protection Committee (MEPC 84) agreed to preserve the Net Zero Framework (NZF) as the central basis for continued negotiations, following intense last-minute debates over the scope and direction of the upcoming intersessional work.

In the final hours of negotiations, member states reached a compromise on the Terms of Reference (TOR) for intersessional discussions ahead of MEPC 85. While the revised text allows for the submission of additional and alternative proposals, it affirms that the NZF remains the primary reference point for advancing the IMO’s mid-term measures. A broad coalition of countries continued to defend the NZF’s core architecture, reinforcing its status as a hard-won multilateral compromise with sustained majority backing across regions.  

A compromise timeline was ultimately adopted, with two intersessional working group meetings scheduled ahead of MEPC 85, followed by a resumed extraordinary session (MEPC ES.2). While some member states raised concerns about whether this compressed timeline allows sufficient space to consider new proposals, the outcome reflects a shared recognition that further delay risks undermining both climate ambition and investment certainty. 

This outcome marks a necessary, if imperfect, step forward. By maintaining momentum toward a year-end agreement while keeping negotiations inclusive, MEPC 84 sends an important signal to both governments and industry that despite divisions, the global framework for maritime decarbonization remains on course.  

The IMO’s revised 2023 GHG Strategy charts a course toward net-zero emissions from international shipping by 2050, with a further review expected to tighten ambition in 2028. The NZF is the critical mid-term mechanism designed to close the gap between that long-term vision and near-term action – putting timelines, accountability, and consequences behind what would otherwise remain an aspiration. Shipping decarbonization is no longer a question of if, but of how fast. First movers will capture the contracts, partnerships, and infrastructure of a greening global maritime economy, while those that remain anchored to fossil-based fuels risk managing stranded assets in an increasingly unforgiving regulatory environment. With a year-end agreement now in sight, the sector is entering a phase of practical implementation, where early action will shape both costs and competitiveness. 

Timing, however, is becoming increasingly constrained. The NZF is already behind schedule due to last year’s postponement vote. Under the current trajectory of the NZF being adopted in late 2026, with tacit acceptance, the entry into force is expected around early 2028, with the first reporting period beginning in 2029, and verification following in 2030. Each delay narrows the window for an orderly and equitable transition, increasing the risk of abrupt and costly adjustments as ambition tightens in the years ahead. Maintaining momentum through the intersessional process will be critical to ensuring that the framework is not only preserved, but finalized. 

For South Korea, as a global leader in shipbuilding and a major maritime economy, its competitiveness will depend on how quickly it aligns domestic policy with emerging global standards. Global shipping is moving toward a system that rewards zero- or near-zero emission fuels, underpinned by both technical standards and economic signals. The question is no longer whether the transition will happen, but whether Korea will move early enough to shape or align with it.  

This requires accelerating practical enablers, including investment in green fuel supply chains, port infrastructure, and coordinated action across government, industry, and finance. While South Korea has already established a national roadmap toward maritime carbon neutrality and committed substantial public investment, the current phase demands faster alignment between policy signals and industrial strategy. At the same time, this period represents a narrow but critical window of opportunity. Acting early, while the regulatory framework is being finalized, allows countries and companies to minimize transition costs, secure first-mover advantages, and position themselves within emerging global standards. 

Despite an outcome that keeps negotiations open rather than settled, South Korea must keep its eyes firmly on the course ahead, seizing this moment not merely to respond to the transition, but to help drive its direction.

ENDS.  

The International Maritime Organization (IMO) is the United Nations body responsible for regulating international shipping. The Marine Environment Protection Committee (MEPC) is its main body for setting environmental rules for the global shipping industry.  

Solutions for Our Climate (SFOC) is an independent nonprofit organization that works to accelerate global greenhouse gas emissions reduction and energy transition. SFOC leverages research, litigation, community organizing, and strategic communications to deliver practical climate solutions and build movements for change.      

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Antonette Tagnipez, International Communications Officer, at antonette.tagnipez@forourclimate.org