How would a $5bn green research fund work?

Setting up a $5bn-funded research body to help develop technologies required to decarbonise the shipping industry is a bold move, but its success or failure would ultimately depend on the structure — if any — adopted by the IMO.

The proposals from a group of industry associations included a huge amount of detail on how the proposed International Maritime Research Board (IMRB) would deliver collective responsibility to hit the IMO’s 2050 target of cutting emissions by 50% from 2008 levels.