Klaveness chief executive Lasse Kristoffersen is urging the shipping industry to get funding schemes back on the drawing board to achieve its carbon reduction targets.

Kristoffersen, who also is president of the Norwegian Shipowners’ Association and vice president of the International Chamber of Shipping, said such schemes could provide the “final bridge” that would fund the technology development required to help the industry to cross over to an age of carbon-free shipping.

His comments come as the IMO appears to have put so-called market-based mechanisms on the backburner while it attempts to come up with short-term technical solutions to reducing carbon emissions.