Shipping industry faces net zero emissions target, according to draft plan
An IMO draft seen by Bloomberg but not yet finalized would see a non-binding target of net zero emissions by 2050 adopted by the IMO, bringing it nearer to alignment with the 2015 Paris agreement.
The draft text seen by Bloomberg, dated June 30, is subject to approval and amendment.
“The draft doesn’t go far enough. Net zero isn’t enough – it needs to be zero emissions,” according to Albon Ishoda, the Republic of the Marshall Islands’ special envoy for shipping decarbonization. “We need this sector to align with a 1.5C trajectory.”
The targets include international shipping’s greenhouse gas emissions reaching net zero by, or around, 2050.
The draft includes “indicative checkpoints” for emissions reductions, including at least 20% in 2030 (2008 taken as the base year).
The draft also includes a 2030 target for a small amount of the energy used by international shipping to come from zero, or near-zero, GHG-emission sources.
The key parts of the draft text, with language in square brackets indicates wording yet to be decided, are:
- “to reach net zero GHG emissions [by 2050 at the latest] [by or around mid-century, mindful of different national circumstances*] [by or around 2050, taking into account different national circumstances*]”
- “uptake of zero or near-zero GHG emission technologies, fuels and/or energy sources to represent [at least] 5%[, striving for 10%,] of the energy used by international shipping by 2030”
- “Indicative checkpoints “to reduce the total annual GHG emissions from international shipping by at least 20% [striving for 25%] in 2030, compared to 2008”“to reduce the total annual GHG emissions from international shipping by at least 70% [striving for 75%] by 2040, compared to 2008”.
Source: Insurance Marine News 3rd July 2023
