(MENAFN- EIN Presswire) EINPresswire/ -- The Methanol Institute (MI) notes with regret the decision of the International Maritime Organization (IMO) to postpone the decision of whether to adopt the Net-Zero Framework (NZF) for one year. While the adjournment is a missed opportunity for the sector, it will provide additional time to address outstanding concerns and build broader consensus for the adoption of a global framework that can deliver on the IMO's 2023 GHG strategy.

“The decision to adjourn by one year should not diminish the significance of the progress achieved so far,” said Felicia Mester, Managing Director for Europe and IMO at the Methanol Institute.“A global framework remains the most effective pathway for a global, coordinated transition to net zero in shipping. We urge the IMO community to use the year ahead to work collaboratively and reach a consensus.''

Without such a framework, decarbonization efforts risk becoming fragmented across regional systems - a path that would make the transition slower, more complex, and more costly for the industry as a whole. A clear and predictable regulatory framework will also enable the scale up of low-carbon fuels such as methanol and in the infrastructure required to deliver them at scale.

About the Methanol Institute (MI):
MI is the global trade association, representing the world's leading methanol producers and distributors, transporters, shipping companies, and technology providers. With over 100 members and offices in Washington D.C, Brussels, Delhi, Singapore, and Beijing, we serve as the voice of the global methanol industry, promoting methanol as a key chemical building block and an alternative fuel for transportation and power generation. For more information, visit and connect with us on LinkedIn and X.

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