Shipping decarbonization: the MBM track

Sotiria Lagouvardou, Harilaos N. Psaraftis

Research output: Contribution to conferencePaperResearchpeer-review

Abstract

The “Initial IMO Strategy” was adopted in the 72nd session of the Marine Environment Protection Committee (MEPC 72) of the International Maritime Organization (IMO) in April 2018. It has set, among other things, ambitious targets to reduce greenhouse gas (GHG) emissions from ships, and purports to express a strong political will to phase them out as soon as possible. The most ambitious of these targets is to reduce GHG emissions by 2050 at least 50% vis-à-vis 2008 levels, and there is also an intermediate target to reduce CO2 emissions per transport work by 2030 at least 40%, again vis-à-vis 2008 levels. More than four years since the adoption of the Initial IMO Strategy, this paper takes stock at the status of shipping decarbonization, with an emphasis on Market Based Measures (MBM), which belong to the category of mid-term measures within the Initial IMO Strategy. Related IMO regulatory action is contrasted to action by the European Union (EU) in the context of including shipping into the EU Emissions Trading System (ETS).
Original languageEnglish
Publication date2022
Number of pages11
Publication statusPublished - 2022
Event2022 Annual Conference of the Hellenic Institute of Marine Technology - Athens, Greece
Duration: 22 Nov 202223 Nov 2022
https://www.elint.org.gr/conference/

Conference

Conference2022 Annual Conference of the Hellenic Institute of Marine Technology
Country/TerritoryGreece
CityAthens
Period22/11/202223/11/2022
Internet address

Keywords

  • Decarbonization
  • Shipping
  • Greenhouse gases
  • Market based measures
  • CO2 emissions

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