Least Developed Countries (LDCs) and Small Island Developing States (SIDS) would benefit most from the scheme due to the significant adaptation financing that would become available to them. The shipping itself would also benefit significantly due to technology funding (in $billions annually), further leveraged by private and public investments. How the funds will be split would be agreed by parties to the UNFCCC.
One potential distribution is dividing the funds into three parts: adaptation to climate change in developing countries, REDD+ (forestry), and technology in the shipping (R&D, incentives, etc.). Adaptation and forestry funding would be under the UNFCCC convention, the technology funding is proposed to be governed by the IMO & the shipping industry.