Delivering A Just And Equitable Transition: Alternatives For Effective And Credible Management Of Shipping’s Climate Funds in International Shipping News 20/03/2026 Summary The International Maritime Organisation’s (IMO) 2023 Strategy on Reduction of GHG Emissions from Ships links shipping’s decarbonisation pathway to enabling a just and equitable transition. While the exact policy configuration remains uncertain, revenue collection and distribution decisions will play an important role in generating political support and delivering on the strategy. The possible scale of revenues has transformative potential but also raises questions about legitimacy, efficiency, and equity. Robust governance, transparency, and accountability will be critical to ensure political buy-in and effective deployment, particularly for lower-income countries and vulnerable states. Examples both from within shipping and the wider energy sectors show that this is achievable, but will require maximising experiences from other funds and designing the fund as a flexible, modular architecture rather than a single uniform instrument. Delivering a just and equitable energy transition requires parallel support for mitigation, workforce transition, capacity-building, national planning, and the management of disproportionate impacts, with indicative allocation safeguards to ensure equity without constraining adaptability. Leveraging existing climate finance institutions while retaining strategic IMO oversight can enable rapid and credible deployment. Collaborating with established funds can provide immediate fiduciary capacity, project pipelines, and risk management, while the IMO sets priorities, eligibility, and accountability. Full IMO management can remain a longer-term option but should not delay early action. Exploring the right combinations of recipients, impact areas and financial instruments can ensure maximum impact in a cost-effective way. A blended approach paired with tailored instruments can build the political and market confidence the maritime industry needs to scale zero-emission solutions globally. Introduction In 2023, the International Maritime Organisation (IMO) unanimously agreed to a revised greenhouse gas emissions reduction strategy. This not only outlined a decarbonisation pathway for shipping, but also emphasised two objectives: to drive an energy transition and enable a “just and equitable transition”. A just and equitable transition does not have a single, universally agreed-upon definition; it carries different meanings for different countries and stakeholders. For some, it may involve unlocking alternative energy production potential, while for others, it may centre on supporting adaptation or mitigating the negative impacts of the transition. In most cases, delivering on these objectives requires climate finance at scale. Following the strategy’s adoption, the IMO set out to develop a set of policy measures intended to drive shipping’s decarbonisation through a global regulatory approach, resulting in the Net-Zero Framework (NZF) in 2025. While the framework was initially set for adoption in October 2025, that decision was postponed by one year, and a wide range of policy scenarios remain on the table. Previous engagements with the Getting to Zero Coalition highlighted the importance of revenue disbursement to support the delivery of the 2023 strategy. If adopted in its current form, an estimated $11–12 billion in annual revenues from the f