Shipping sector eyes carbon trading mechanism
Crucial talks at the IMO focus on a two-tier emissions trading scheme combined with a marine fuel standard
Negotiations getting underway at the International Maritime Organization (IMO) could result in agreement for the first time in a binding regulation that would aim to decarbonise the shipping sector by 2050. The IMO’s Marine Environment Protection Committee (MEPC) will meet in London from 7–11 April to build on work already carried out in working groups. The IMO’s agreed GHG Strategy commits member states to adopting new mid-term measures to reduce greenhouse gas (GHG) emissions from ships in late 2025, including a fuel standard and GHG emissions pricing mechanism. “The ICS stands ready to assist wherever possible, but ultimately it is now in the hands of governments to deliver” Platten
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