Despite the relative energy efficiency of shipping compared with aviation, the bulk of the shipping sector still runs on fossil fuels. With the projected growth in international shipping over the coming decades, the sector’s emissions could, worryingly, grow by a cumulative 250% by 2050, if left unchecked.
The UN’s International Maritime Organisation (IMO) is responsible for steering global action to navigate the international shipping sector towards a climate-friendly future. However, these efforts have been blown off course due to a lack of ambition and inadequate goals and targets. If the shipping sector is to achieve its climate goals, the IMO needs to blow more wind in its sails by scaling up ambition and imposing binding targets on the sector.
As a member of the Clean Shipping Coalition (CSC), Carbon Market Watch is an official observer at the IMO, follows its climate policy development process and recommends policies to improve the climate performance of the global shipping sector.
When it comes to international shipping, Carbon Market Watch focuses on:
The shipping sector must set course toward a climate-friendly future
The shipping sector must set course toward a climate-friendly future
Raising the IMO’s climate ambition to a level that is compatible with the goals of the Paris Agreement
Action at national and regional levels to bring down shipping emissions in different jurisdictions
Embarking on an equitable transition for the shipping sector that leaves no country behind
Binding emissions reduction targets for shipping companies that are in line with the Paris Agreement
The EU’s Emissions Trading System (EU ETS) is being expanded to cover shipping. But what does this involve and what does it mean for the maritime sector?
Green groups criticised the International Maritime Organisation’s failure to raise the shipping sector’s climate ambition sufficiently to ensure that this highly polluting sector navigates a course that is compatible with keeping global temperature increases within the 1.5°C limit set out in the Paris Agreement.
Submitted by the Clean Shipping Coalition (of which Carbon Market Watch is a member), this document summarises the key principles that any market-based measure (MBM)
sam.vandenplas[at]carbonmarketwatch.org
eleanor.scott[at]carbonmarketwatch.org
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