The year 2024 marks a crucial juncture when the divisive Carbon Intensity Indicator rules come into effect, and the EU's carbon trading system begins to incorporate shipping.

At this juncture, vessels emitting less will be financially rewarded, while those falling into lower efficiency ratings will face penalties.

Though it may not immediately end the rhetoric criticised by Greta Thunberg, it signals a moment of accountability for an industry that has often committed to sustainability.

As ships approaching European ports face a looming US$3.6 billion carbon emissions bill, the expectation might be that those secretly hoping for the issue to vanish would retreat in shame.

However, this is not the case.

Similar to the 2020 low-sulphur switchover, there will likely be critics until the last moment and beyond.

In the coming year, the industry will witness a sorting process, distinguishing between those adequately prepared and those who have avoided confronting the impending challenges.

Despite a surge in press releases claiming alignment with 1.5C Paris Agreement goals, the reality is quite different.

Only a handful of companies have committed to targets in line with basic Paris goals, showcasing a regression rather than progress.

While long-term commitments may eventually address accountability, the immediate reality of the EU ETS has caught up with industry executives, prompting understandable concerns about its mechanics.

Questions about fairness, including emissions outside EU waters and regional moves conflicting with global efforts at the International Maritime Organisation, are prevalent.