In response to the International Chamber of Shipping’s call to examine the role of market-based measures (MBM) to ensure decarbonization targets are met for the global shipping industry, a coalition of environmental organizations has demanded that global shipping organizations withdraw their proposal to establish an International Maritime Research and Development Board through the International Maritime Organization (IMO). There is concern that the R & D proposal could stall international dialogue on MBMs, which are believed to be a much quicker and fairer market approach to meet greenhouse gas emission reduction targets. Notwithstanding, many industry experts, including the International Chamber of Shipping, assert that MBMs can only affect change if there are viable alternatives to fossil fuels, and that the development of alternative technologies can be enabled by a massive acceleration of IMO coordinated R & D, to be financed by the shipping industry. The IMO’s Maritime Environment Protection Committee convenes in June and this is likely to be a hotly debated topic.