The Call to Action initiative, developed by the World Economic Forum, the non-profit Global Maritime Forum and other partners, said decarbonization of shipping could 'only happen with the urgency and scale needed' if governments and regulators established proper policy frameworks. 'The clock is ticking,' said Hugo De Stoop, chief executive of leading tanker company Euronav. In the latest initiative companies and groups - from shipping, chartering, finance, ports, and fuel production - say stronger measures are needed to ensure the sector will meet the climate goals set by the Paris accord, which seeks to limit global warming to less than 2 degrees Celsius. UN shipping agency the International Maritime Organization (IMO), has said it aims to reduce overall greenhouse gas (GHG) emissions from ships by 50% from 2008 levels by 2050, but industry groups are calling for accelarated action from governments.
