A just and equitable transition for shipping

“There’s a real risk that the bulk of the money raised from shipping’s new global emissions fee will be given back to the maritime sector as a reward mechanism – to shipping companies who have already modernised their fleets. That’s why Opportunity Green is calling for as high a proportion of revenues as possible to go to support adaptation and resilience in climate-vulnerable nations. This is the only way to enable a just and equitable transition for shipping.”

Em Fenton, Senior Director of Climate Diplomacy, Opportunity Green

Background

In April 2025, the International Maritime Organization (IMO) approved a global fee chargeable on a portion of international shipping emissions. Our report, A just and equitable transition for shipping, examines how the revenues raised from this measure could be used to support equity and justice, and offset the cost of maritime’s transition.

The global emissions fee is set out in the IMO Net-Zero Framework, a major new regulation designed to reduce greenhouse gas (GHG) emissions from international shipping. Due to be formally adopted in October, this is projected to raise around $10bn a year in revenue from 2028. 

Hailed as a historic achievement, the agreement marks a notable move towards implementing the “polluter pays” principle and could set an example for other sectors lagging behind, like aviation. But the fear is that the money could end up back in the hands of those very polluters – highly-profitable shipping companies – as a reward for their early adoption of net-zero technologies. 

What’s covered in the report?

The report contains four country case studies illustrating how they could be supported by this new IMO Net-Zero fund. The case studies are relevant to other countries with similar geographic, social, economic or industrial profiles as the ones featured. They are: 

• Chile: relevant for other countries geographically remote from their main markets. 
• Nigeria: relevant for other oil-producing developing countries or those with untapped oil reserves. 
• Belize: relevant for other Small Island Developing States (SIDS). 
• Vietnam: relevant for other coal-dependent countries with high renewable potential. 

Our recommendations

Our report shows that the only way to guarantee a just and equitable maritime transition is in how the global emissions fee revenues from the IMO Net-Zero fund are distributed. Our analysis finds that these funds:

1. Must be used flexibly and liberally to support climate vulnerable countries to adapt to climate change and enhance resilience. 
2. Must not simply be redistributed as rewards for the use of Zero or Near-Zero fuels and technologies (ZNZs) to the very shipping companies who made record profits while paying unfathomably low taxes in the past five years.

Download the report below.