The International Maritime Organization’s (IMO) Marine Environment Protection Committee commenced its 81st session (MEPC 81) with a focus on advancing measures to decarbonize the maritime industry.
In his address, IMO Secretary-General underscored the significance of this endeavor, viewing it as an opportunity to align the shipping sector with global climate change and sustainability goals, says an article published on engine online website.
Summary
- he International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC 81) commenced with a focus on advancing measures to decarbonize the maritime industry.
- IMO Secretary-General Arsenio Dominguez announced the organization’s intention to develop a comprehensive framework for assessing greenhouse gas (GHG) intensity throughout a vessel’s lifecycle, reflecting IMO’s commitment to enhancing environmental standards.
- Dominguez commended member states for their dedication to advancing technical and economic measures aimed at achieving the GHG reduction targets outlined in the 2023 IMO GHG Strategy.
- Discussions at MEPC 81 focus on mid-term measures crucial for meeting the interim GHG reduction targets set for 2030 and 2040, including a flexible GHG fuel standard aligned with IMO’s targets and GHG pricing mechanisms.
Lifecycle Greenhouse Gas Intensity Assessment Framework
IM0 Secretary-General Arsenio Dominguez announced the organization’s intention to develop a comprehensive framework for assessing greenhouse gas (GHG) intensity throughout a vessel’s lifecycle. This initiative follows the adoption of lifecycle analysis guidelines at MEPC 80, reflecting IMO’s commitment to enhancing environmental standards.
Commitment To Ambitious GHG Reduction Targets
Dominguez commended member states for their dedication to advancing technical and economic measures aimed at achieving the GHG reduction targets outlined in the 2023 IMO GHG Strategy. The proposals and discussions during ISWG-GHG 16 underscored member states’ determination to fulfill these ambitious targets.
Focus On Mid-Term Measures
The current focus of discussions at MEPC 81 centers on mid-term measures, which are crucial for meeting the interim GHG reduction targets set for 2030 and 2040. A flexible GHG fuel standard, aligned with IMO’s targets, has garnered support from the majority of member states. Additionally, discussions include the consideration of GHG pricing mechanisms, with 34 member states proposing a combination of a GHG fuel standard and a levy.
Proposed GHG Pricing Mechanisms
Various proposals suggest implementing GHG pricing mechanisms, with starting prices ranging from $20 to $150 per metric ton of CO2-equivalent. Some submissions advocate for a gradual increase in pricing, starting at $30 per metric ton of CO2e and escalating to $100 per metric ton of CO2e over time.
Timeline For Adoption
The IMO aims to adopt mid-term measures by March next year, which will serve as practical follow-ups to the GHG reduction targets outlined in its revised strategy. These measures are crucial for driving tangible progress towards decarbonizing the maritime industry and achieving long-term sustainability objectives.
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Source: engine.online
