At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed.
The global shipping fleet, which accounts for 2.2 percent of the world's carbon dioxide emissions, is under pressure to reduce those emissions and other pollution. About 90 percent of world trade is transported by sea.
The U.N. shipping agency, the International Maritime Organization, aims to reduce the industry's greenhouse gas emissions by 50 percent from 2008 levels by 2050, a target that will require the swift development of zero or low-emission fuels and new ship designs using cleaner technology.