IMO proposes incentives for first movers to take up new green technologies

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.

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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