The IMO Net-Zero Framework: Legal and Non-Legal Challenges for the GHG Pricing Component

Examines why the greenhouse-gas pricing mechanism embedded in the IMO’s Net-Zero Framework proved one of the most contentious elements of the negotiations, given differing state preferences for flexibility, emissions reduction or revenue-raising. The paper considers both legal challenges (compatibility with MARPOL and WTO law) and non-legal ones (impacts on states, revenue use, fuel availability) and suggests ways forward. (DELI Working Paper No.1/2025)