As US calls for zero emissions, shipowners urge for quicker implementation of market-based measures

Scrambling yesterday as the United States called for the International Maritime Organization to pursue zero emission targets for shipping by 2050, the world’s leading shipowning organisations made an urgent call to get measures in place for mandatory market-based measures (MBMs) for international shipping.

In a joint submission to the United Nations, the bodies, which include BIMCO and the International Chamber of Shipping among a host of others, are asking governments to fast forward discussions on carbon pricing so that they can be considered in tandem with the shipowners’ proposals to create a $5bn decarbonisation R&D fund.

The industry bodies stated in a release: “Fair and equitable MBMs are a viable policy option to transition to the new fuels and technologies that will be necessary to phase-out GHG emissions in the sector. We’re joining with industry colleagues to urge the UN and national governments to prioritise discussion on MBMs to make sure that shipping remains on course to meet vital decarbonisation goals.”

Shipping organisations are still coming to terms with news from the US where John Kerry, the climate tzar in the new Joe Biden administration, called yesterday for the IMO to lead shipping towards zero emissions by 2050, a 180-degree turn from the previous administration’s position on shipping and environmental legislation.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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