MEPC 80: More ‘policy tools’ needed to implement revised GHG strategy – IBIA
The bunker association has expressed support for the IMO’s revised greenhouse gas (GHG) strategy, while noting that more measures are needed to meet a net zero GHG emissions target by 2050.
PHOTO: IMO headquarters in London. Getty Images
The IMO adopted a new GHG strategy today, which sets a target of achieving net zero GHG emissions from shipping “by or around 2050.”
The International Bunker Industry Association (IBIA) has praised some new elements added to the revised strategy, including the interim GHG reduction targets and the aim for at least 5% (striving for 10%) of the global marine fuel mix to be made up of zero or near-zero emission fuels by 2030.
The IMO has set interim targets to reduce GHG emissions from shipping by 20% (striving for 30%) by 2030, and by 70% (striving for 80%) by 2040, compared to 2008 levels.
During discussions on the GHG strategy, IBIA supported regulations to boost investments in alternative fuels and technologies that would help reduce GHG emissions on a well-to-wake basis.
It also supported adoption of onboard carbon capture technology to help reduce carbon dioxide (CO2) emissions from vessels. “That work will be taken forward at future GHG discussions at the IMO,” IBIA says.
“We sought clarification on the role of certified sustainable biofuels as a way to improve a ship’s CII rating while we wait for the IMO’s LCA (Life Cycle Assessment) Guidelines to provide a comprehensive method to account for well-to-wake GHG emissions,” IBIA says.
CII is a measure to evaluate a ship’s fuel efficiency. It is expressed in grams of CO2 emitted per mt of cargo and nautical mile. The ship is then rated every year from A to E (A being the highest), and the rating criteria is expected to become stricter by 2030.
IBIA notes that shipping's energy transition will take time, therefore more measures are needed to support the IMO’s long-term GHG emission reduction target.
“There is much work ahead to decide on the exact nature of the policy tools that will support the GHG reduction targets,” IBIA says.
These measures would include “the phasing in of a marine fuel GHG intensity standard, and some form of a GHG emission pricing mechanism. The aim is to make a final decision on these elements at MEPC 81,” it says.
By Shilpa Sharma
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