- The IMO has set ambitious targets to reduce GHG emissions in shipping, aiming for a 40% reduction by 2030 and net-zero by 2050.
- Technical innovations and capacity building in developing countries are key to achieving these goals.
- Upcoming regulatory meetings will focus on aligning global and regional regulations to ensure smooth implementation of the IMO’s climate neutrality strategy.
The International Maritime Organization (IMO) has adopted a comprehensive strategy to achieve climate neutrality in shipping, with a focus on reducing greenhouse gas (GHG) emissions. The strategy aims to significantly reduce GHG emissions from international shipping and eventually phase them out entirely, reports Skuld.
Targets and Goals
The IMO has set ambitious targets for reducing the carbon intensity (CO2 emissions per transport work) by at least 40% by 2030 compared to 2008 levels. Additionally, the goal is to ensure that at least 5% of energy used by international shipping comes from zero or near-zero GHG emission technologies, fuels, and energy sources.
By 2040, the IMO aims to achieve at least a 70% reduction in GHG emissions and reach net-zero GHG emissions by 2050.
To achieve these targets, the IMO is focusing on technical innovations that promote the development and global adoption of alternative fuels and energy sources. The strategy also emphasizes the importance of building capacity in developing countries to ensure no one is left behind in the transition to cleaner shipping practices.
The 81st session of the Marine Environment Protection Committee (MEPC 81) made significant progress in developing regulatory frameworks and guidelines to improve energy efficiency, manage marine fuels, and reduce GHG emissions.
These efforts will continue at the upcoming MEPC 82 meeting, scheduled for 30 September to 4 October 2024.
Upcoming Meetings and Proposals
Before MEPC 82, the Intersessional Meeting of the Working Group on Reduction of GHG Emissions from Ships (ISWG-GHG) will hold its 17th session in London from 23 to 27 September 2024. The group’s report will be presented at MEPC 82.
Various draft amendments to MARPOL Annex VI have been introduced, including a proposal by the Bahamas, Liberia, and the International Chamber of Shipping (ICS) for an integrated “IMO Net Zero Framework.”
This proposal includes a carbon pricing mechanism and a goal-based fuel standard aimed at achieving net-zero GHG emissions from international shipping by 2050.
Draft Amendments to MARPOL Annex VI
The draft amendments to MARPOL Annex VI propose an initial flat-rate GHG fee per tonne of CO2 emitted, with a reward element to incentivize the production and use of zero/near-zero GHG fuels and technologies.
This approach could generate up to USD 2.5 billion per year for an “IMO Net Zero Shipping Fund” to support developing countries.
One of the key challenges the IMO faces is aligning its Net Zero Framework with existing regional regulations, such as the EU ETS Directive and the upcoming FuelEU Maritime Regulation. Without alignment, ship owners may face fragmented and challenging compliance requirements.
The outcomes of the 17th ISWG-GHG session and MEPC 82 will be crucial in determining how the IMO addresses the issue of potential double charging for GHG emissions if regional and IMO regulations overlap.
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Source: Skuld
