BIMCO urges MEPC 81 to develop glossary of climate change definitions
Global shipping association BIMCO has urged IMO to develop a “glossary of definitions relevant to the reduction of GHG emissions from shipping” based on its recently revised glossary.
PHOTO: Street view of IMO's building in Lambeth, London, England. Getty Images
BIMCO, along with other organisations, has submitted a glossary of climate change definitions for the 81st session of the IMO’s Marine Environment Protection Committee (MEPC) meeting in March 2024.
The other contributors to the submission include the International Association of Ports and Harbors (IAPH), the International Union of Marine Insurance (IUMI) and the International Association of Independent Tanker Owners (InterTanko).
In July 2022, BIMCO published a climate change glossary that defines terminology and terms vital to the shipping sector's green transition dialogue. It updated its glossary in December 2023 to align it with IMO’s revised greenhouse gas (GHG) strategy.
BIMCO has added three new definitions to its glossary: boundary, near zero and liquefied natural gas (LNG). It has also updated several existing definitions “related to the concepts of ‘neutrality’ and ‘net zero’,” the organization said in a LinkedIn post.
The definitions for “neutrality”, including carbon- and GHG-neutral ship operations, have been revised to include the term “well-to-wake emissions” for the fuel used.
In addition, BIMCO has removed the term “insets” from its updated glossary for 2023. This pertains to all neutrality and net zero definitions, including neutral and net zero ship operations.
For instance, its July 2022 glossary defined net zero GHG emissions as “reducing emissions and balancing the remaining residual emissions through removal rather than using offsets and/or insets.”
According to the 2023 version, however, “net zero in relation to the 2023 IMO GHG Strategy means balancing emissions within the boundaries of the energy system of international shipping through carbon removal rather than through carbon offsets to other sectors.”
BIMCO has urged the shipping regulator to develop a glossary based on these definitions that the shipping industry can refer to. It argues that a glossary will improve clarity and uniformity in maritime discussions around climate change and green transition.
By Konica Bhatt
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