Shipping Industry Unites to Propose Ambitious Co2 Reduction Objectives to Global Regulator
Four major international trade associations – BIMCO, INTERCARGO, International Chamber of Shipping (ICS) and INTERTANKO – have made a joint proposal to the UN International Maritime Organization (IMO) concerning ambitious CO2 reductions by the international shipping sector.
In a detailed submission, the industry bodies have proposed that IMO Member States should immediately adopt two Aspirational Objectives on behalf of the international shipping sector:
- To maintain international shipping's annual total CO2 emissions below 2008 levels; and
- To reduce CO2 emissions per tonne of cargo transported one kilometre, as an average across international shipping, by at least 50% by 2050, compared to 2008.
The shipping industry wants IMO to remain in control of additional measures to address CO2reduction by international shipping and to develop a global solution, rather than risk the danger of market-distorting measures at the national or regional level.
Importantly, acknowledging concerns of developing nations about the possible impacts of CO2reduction for trade and sustainable development, the industry submission emphasises that any objectives adopted by IMO must not imply any commitment to place a binding cap on the sector's total CO2 emissions or on the CO2 emissions of individual ships.
The industry associations also highlight that dramatic in-sector CO2 reductions alongside increasing trade would require substantial and sustained research into the development of alternative fossil-free fuels and new technologies – something which they say needs to be identified by the IMO strategy.
Source: ICS Press Release.