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Four shipping groups propose ambitious CO2 reduction objectives to IMO

Four major international shipping and maritime trade associations have made a joint proposal to the IMO on ambitious carbon dioxide (CO2) reductions by the global shipping industry.

Bimco, Intercargo, Intertanko and International Chamber of Shipping (ICS) have made a detailed submission proposing that IMO member states “immediately adopt two Aspirational Objectives on behalf of the international shipping sector”, their joint press release stated.

The Aspirational Objectives include maintaining international shipping’s annual total CO2 emissions below 2008 levels, and reducing CO2 emissions per tonne of cargo transported one kilometre, as an average across international shipping, by at least 50% by 2050 compared to 2008.

The industry associations also suggested that IMO should give consideration to another possible objective of reducing international shipping’s total annual CO2 emissions, by an agrred percentage of 2050 compared to 2008, as a point on a continuing trajectory of further CO2 emissions reduction.

“The shipping industry wants IMO to remain in control of additional measures to address CO2 reduction by international shipping and to develop a global solution, rather than risk the danger of market-distorting measures at the national or regional level,” the joint statement said.

The trade associations pointed out that any objectives adopted by IMO must not imply any commitment to place a binding cap on the sector’s total CO2 emissions or on the CO2 emissions of individual ships.

“The industry association also highlight that dramatic in-sector CO2 reductions alongside increasing trade would require substantial and sustained research into the development of alternative fossil-free fuels and new technologies – something which they say needs to be identified by the IMO strategy,” the statement added.

The IMO Marine Environment Protection Committee (MEPC) will meet in London this July to commence the development of a strategy for the reduction of shipping’s CO2 emissions, aligning with the 2015 Paris Agreement’s call for amibitious contributions to combat climate change.

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