The International Maritime Organization is holding a pivotal meeting in London this week, where member states are set to vote on the adoption of a new net-zero framework for global shipping emissions.

If approved, the framework would mark a historic step toward decarbonizing the shipping industry, establishing the world’s first sector-wide carbon pricing mechanism. The plan calls for ships to reduce greenhouse gas emissions by 17% by 2028, with increasingly stringent reduction targets thereafter, or pay a compliance fee. Approval would also create a unified international structure for emissions regulation.

While some nations and industry groups have expressed concerns about economic impacts and implementation, some see this vote as a defining moment for maritime sustainability. The U.S. administration warned it will impose retaliatory measures against nations supporting the proposal. These could include port restrictions, sanctions, visa limits, and higher port fees for vessels from supporting countries.