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 language | English |
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Publication date | 2022 |
Number of pages | 11 |
Publication status | Published - 2022 |
Event | 2022 Annual Conference of the Hellenic Institute of Marine Technology - Athens, Greece Duration: 22 Nov 2022 → 23 Nov 2022 https://www.elint.org.gr/conference/ |
Conference
Conference | 2022 Annual Conference of the Hellenic Institute of Marine Technology |
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Country/Territory | Greece |
City | Athens |
Period | 22/11/2022 → 23/11/2022 |
Internet address |
Keywords
- Decarbonization
- Shipping
- Greenhouse gases
- Market based measures
- CO2 emissions