IMO proposes incentives for first movers to take up new green technologies; IMO: Phasing out Shipping GHGs "A Matter of Urgency"

IMO proposes incentives for first movers to take up new green technologies
Sam Chambers May 3rd, 2018 https://splash247.com/imo-proposes-incentives-first-movers-take-new-gree...

The International Maritime Organization (IMO) has submitted a 27-page note to the United Nations Climate Change secretariat outlining the key deals thrashed out last month at the 72nd gathering of the Marine Environment Protection Committee (MEPC), a meeting that gave shipping its first ever greenhouse gas (GHG) emissions target.

“IMO remains committed to reducing GHG emissions from international shipping and, as a matter of urgency, aims to phase them out as soon as possible in this century,” the document states.

The IMO said the aim was to peak GHG emissions from international shipping “as soon as possible” and to reduce the total annual GHG emissions by at least 50% by 2050 compared to 2008 levels.

Among a host of short term measures proposed to get shipping’s decarbonisation underway the document proposed incentives for first movers to develop and take up new technologies.

A revised strategy on decarbonising shipping is set to be adopted by IMO member states in the spring of 2023, the document stated. The revised strategy should be subject to a review five years after its final adoption.

IMO: Phasing out Shipping GHGs "A Matter of Urgency"
1 May 2018 https://shipandbunker.com/news/world/482315-imo-phasing-out-shipping-ghg...

IMO: Phasing out Shipping GHGs "A Matter of Urgency"
The International Maritime Organization (IMO) has highlighted its recently adopted initial strategy to reduce GHG emissions from ships at the Bonn Climate Change Conference, which began Monday.

Speaking during the opening of the plenary session, IMO's Edmund Hughes said the strategy confirms IMO's commitment to reducing GHG emissions from international shipping and, "as a matter of urgency, to phasing them out as soon as possible in this century."

As previously reported, the deal agreed last month at MEPC 72 envisages a reduction in total GHG emissions from international shipping which, IMO says, should peak as soon as possible and to reduce the total annual GHG emissions by at least 50% by 2050 compared to 2008, while, at the same time, pursuing efforts towards phasing them out entirely.

While the International Chamber of Shipping (ICS) says this level of ambition puts shipping "far and away ahead of the rest of the world economy", a report by the International Transport Forum (ITF) at the OECD has suggested that almost complete decarbonisation is possible by 2035 with currently known technologies.

Dr Tristan Smith from the UCL Energy Institute, meanwhile, has predicted today's traditional oil-based bunker industry will decline from the 2030's.