Historic climate deal for shipping: net zero emissions “in or near” 2050
Today, the 175 member states of the International Maritime Organisation (IMO) have reached a historic agreement in reducing greenhouse gas emissions from the international shipping industry. In the plenary meeting of the Marine Environment Protection Committee (MEPC) it was decided that “in or near” 2050 net zero emissions of greenhouse gases must be achieved. The Royal Association of Netherlands Shipowners (KVNR) is positive about the net zero goal.
“We would have welcomed a clearer text on the specific deadline, but we do understand the need for providing more flexibility where needed to achieve the net zero goal. Most important was to get a net zero target for greenhouse gas emissions, which was now agreed upon. Globally, this is the first industry-specific climate agreement and therefore marks a historic moment in time,” says KVNR climate specialist Nick Lurkin.
Other technical particularities
In addition to the phasing out of greenhouse gases, intermediate ‘checkpoints’ have been agreed: at least 20 per cent absolute reduction in 2030 as compared to 2008 and at least 70% absolute reduction in 2040 as compared to 2008. Underlying measures, such as a fuel standard, complemented with an economic measure, such as a fuel levy to reach these goals, will be further developed and discussed in the next year and a half. In line with the agreements, entry into force should then be dated in the spring of 2027.