It’s an important week for the maritime industry as the second Extra-ordinary session of the Marine Environment Protection Committee gets underway to discuss the adoption of global regulations to reduce greenhouse gas emissions from international shipping.
Noting the different opinions on the final IMO Net-Zero Framework, Secretary-General of the International Maritime Organisation, Arsenio Dominguez delivered opening remarks highlighting the momentous occasion.
“I am aware that some of you may find the outcome not climate ambitious enough, and would have liked to see steeper reduction curves to effectively contribute to reducing global warming. Others, believe that the GFI reduction requirements are overly stringent and will place a burden on the shipping industry,” he said, adding that all views expressed during the coming week will be respected.
“Some of you are of the view that there will not be sufficient alternative fuels available to ensure compliance, whilst others believe that robust global regulations will send a clear demand signal to fuel and energy producers. Some of you would have preferred a stronger commitment to supporting developing States. Others would prefer additional support for early-movers,” he continued as he acknowledged that the Framework was “not perfect”.
“The IMO Net-Zero Framework is not perfect. However, it provides a balanced basis for our further work on a number of elements ahead of its entry into force in 2027.”
Despite already seeing a transition within shipping, Dominguez noted that the absence of global regulations hampers progress and increases costs for shipping in the long run.
“Prolonged uncertainty will put off investments and diminish confidence in IMO,” he added. “It will incite a proliferation of regional and national climate measures leading to inefficiency and a myriad of emissions pricing schemes, without IMO – all of you the Member States – or the industry having a say in how to use the collected revenue.”
