In its first in-person session in three years, the IMO Marine Environment Protection Committee 79 (MEPC 79) addressed a broad array of issues, taking important steps forward on the path to impactful regulation to drive the decarbonisation of shipping.
Current proposals before the IMO on mid-term measures to drive the energy transition of shipping address different components of what WSC regards as Six Critical Pathways which need to be considered to decarbonise the industry in line with global climate targets. At MEPC 79, IMO member nations pushed forward in the development of these proposals, which include a GHG levy or feebate mechanism, a GHG fuel standard, emissions trading, and a funding/reward system tied to a specific benchmark.
“Discussions surrounding IMO’s GHG Strategy show promise. There is a growing base of support in the Committee to proceed with development of a GHG levy as well as development of a GHG Fuel Standard. Significant differences remain to be resolved on the use of tank-to-wake and well-to-wake GHG factors and the use of funds, but there is a growing sense of agreement on the principal mechanisms that are critical to addressing the GHG challenge at the global level,” says John Butler, President & CEO of World Shipping Council.
“As such we are seeing significant progress on a number of the Six Critical Pathways identified by WSC as vital to a successful decarbonisation of shipping. On the whole, the outcome of MEPC 79 is encouraging as it reflects a growing base of support for major policy regulations at the global level,” says Butler.
This week’s discussions bode well for an agreement on an ambitious and effective basket of measures in future sessions of the MEPC. To this end, WSC will continue to work and engage with IMO Member States to ensure that measures adopted are aligned with the Paris agreement and enable decarbonisation of shipping by 2050.
Source: Hellenic Shipping News
