To examine the financial barriers to a just and equitable transition to zero-emission fuels in the shipping sector, this report focuses on the cost of capital as a critical determinant of project feasibility. It compares the levelised costs and investment risks of green ammonia (e-ammonia) production across regions, including both developed and developing countries, to illustrate how disparities in capital access affect global competitiveness. Furthermore, it explores policy instruments—such as grants and concessional finance—that can mitigate investment challenges in low-income countries, thereby supporting the IMO’s objective of a fair transition while enabling the widespread adoption of renewable marine fuels.
