Longer-term IMO goals rely upon viable zero-carbon fuels
Letter from London: Shipping GHG targets not all plain sailing
The IMO’s ambitious emission goals are still reliant on as-yet unproven technology
The International Maritime Organization (IMO) agreed new mandatory emission reduction policies for ships—including the establishment of vessel rating systems—at its recent Marine Environment Protection Committee (MEPC) meeting. The IMO says the new measures are “short-term” steps in their eventual decarbonisation plans, which target a 50pc cut in shipping’s GHG emissions by 2050 relative to 2008 levels. And along the way, the IMO has committed to reducing carbon intensity—which compares GHG emissions against cargo carried over distance travelled—by 40pc by 2030 and 70pc by 2050. $100/t – Proposed CO₂ fuel oil levy The latest committee meeting also discussed proposals for a mandatory
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
