This chapter discusses the key drivers, challenges, and opportunities for decarbonization. It covers the need for the maritime industry to begin to reduce its greenhouse gas emissions immediately, the fact that a coordinated global approach is required, and that measures are needed to avoid disadvantaging smaller and less developed countries. The chapter authors go on to discuss the role of first-movers in maritime decarbonization, and the need for regulatory mechanisms to underpin decarbonization, and highlight that collaboration across value chains is crucial.