The shipping industry, responsible for about 90% of global trade, contributes 2.6% of global emissions. To address sustainability and environmental impact, companies are adopting ESG standards focusing on emissions, labor rights, and ethics. The International Maritime Organization (IMO) targets a 40% reduction in CO2 emission intensity by 2030 and a 50% cut in total greenhouse gas emissions by 2050. This is supported by the 2016 Data Collection System, which sets the first global GHG emissions standards for ships over 5,000 gross tonnes.‍