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Maritime Insights and Knowledge-hub The IMOs revised strategy: Main Points and Future Proposals

The IMOs revised strategy: Main Points and Future Proposals

IMO & MARPOL Sep. 06, 2024
The IMOs revised strategy: Main Points and Future Proposals

In 2023, the IMO adopted a revised strategy, marking a notable acceleration in emissions reduction goals from five years earlier. The strategy was developed by the Maritime Environment Protection Committee (MEPC)

MEPC 80 refers to the 80th session of the MEPC held in July 2023. The session resulted in a revised strategy and a significant step forward in the IMOs sustainable ambitions within the shipping industry. The revised strategy holds the goal of achieving net-zero emissions by 2050.

One of the most notable changes introduced in the revised strategy was the establishment of 'levels of ambition'. This implies that the strategy outlines specific indicative checkpoints to guarantee the maritime sector remains on track to meet decarbonisation objectives. These checkpoints consist of:

1) Reducing the total annual greenhouse gas (GHG) emissions from international shipping by at least 20%, striving for 30%, by 2030, compared to 2008.

2) Reducing the total annual GHG emissions from international shipping by at least 70%, striving for 80%, by 2040, compared to 2008.

IMO Art2 50 50

Development of candidate measures

Besides checkpoints, one of the most significant changes in the revised strategy is the development of a basket of candidate measures designed to deliver on the reduction targets.

 

This basket includes both technical and economic elements. The technical aspect focuses on establishing a goal-oriented standard aimed at gradually decreasing the GHG intensity of marine fuel. The economic aspect, which involves implementing a system for pricing GHG emissions in the maritime sector.

 

The candidate economic element will be assessed based on specific criteria and aims to promote the energy transition of the shipping industry and contribute to a level playing field.

IMO Art4 50 50

Global Fuel Standard

In line with the revised strategy, the International Chamber of Shipping (ICS) and the International Bunker Industry Association (IBIA) have collaborated to propose a simplified Global GHG Fuel Standard for the next round of IMO GHG negotiations. This is just one out of several proposals and includes a streamlined voluntary energy pooling compliance mechanism to address potential fuel supply challenges.

 

The pooling mechanism gives shipowners flexibility in achieving compliance. The legislations approach aims to minimize administrative burdens for governments, particularly for developing countries whose support is crucial for global adoption. An agreement at the IMO by 2025 is the target, emphasizing the importance of broad support for advancing the fuel standard globally.

 

To learn more visit:

• The revised strategy of MPEC

• Candidate measures

 

Or read the articles below.

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