Maritime UK chair Sarah Kenny has called on the UK government to provide an immediate £1bn ($1.38bn) in decarbonisation funding for the maritime industry.

The call for investment follows the publication of a United Nations report that concluded that climate change is dangerously close to spiralling out of control.

UN secretary general Antonio Guterres described the Intergovernmental Panel on Climate Change (IPCC) report as “code red for humanity”, as it outlined the catastrophic consequences of climate change for the world.