The UN shipping agency has adopted a greenhouse gas strategy for shipping that sets as a target net zero emissions by around 2050.

The International Maritime Organization's 175 member states unanimously adopted the 2023 IMO Strategy on Reduction of Greenhouse Gas Emissions from Ships on Friday at a committee meeting held at the organization's headquarters in London.

The IMO says about 90 percent of the merchandise that is traded in the world is transported by ship. It says greenhouse gas emissions from shipping account for nearly three percent of the overall emissions in the world.

The adopted plan calls for shipping emissions to be reduced by 20 to 30 percent by 2030, and by 70 to 80 percent by 2040, compared to the 2008 levels. It ultimately calls for shipping emissions to be slashed to net zero in real terms by around 2050.

The IMO had initially set as a target a reduction of more than 50 percent by 2050.

But a proposal to introduce a carbon tax, which some of the member nations had put forward, was shelved at Friday's meeting. That prompted criticism from environmental organizations.

At a news conference on Friday, IMO Secretary-General Kitack Lim said the organization now has "ambitious targets." To meet them, he said it is important for investments to be made in the shipping industry.

He stressed the need for shipping and shipbuilding companies to carry out technological reforms.
He cited the introduction of zero-emission ships, which use hydrogen and ammonia as fuel and do not emit carbon dioxide gas.