IMO pushes for more measures to decarbonize shipping

May 31, 2024

  • More measures needed to decarbonize shipping, but not at the expense of small island developing states or developing nations, says the IMO
  • Decarbonization as one of two major challenges facing the global maritime industry, the other being geopolitics
  • Attacks on commercial vessels sailing the Red Sea have been affecting efforts to curb emissions

The International Maritime Organization (IMO) is pushing for more measures to decarbonize shipping, but not at the expense of small island developing states as well as developing nations which might face negative impacts to their economies.

At the recently concluded Global Supply Chain Forum held in Barbados, IMO secretary general Arsenio Dominguez in a statement cited decarbonization as one of two major challenges facing the global maritime industry, the other being geopolitics.

Organized by the United Nations Trade and Development (UNCTAD), the event was the first of its kind.

Attacks on commercial vessels sailing the Red Sea have been affecting efforts to curb emissions, according to Dominguez.

“Even though we have made a lot of progress to become greener, the industry has been forced to increase greenhouse gas emissions in order to safely continue to supply the world,” said Dominguez.

He added that by sailing around the Cape of Good Hope to avoid threats in the Red Sea, the industry is emitting greenhouse gases three times more than expected.

Dominguez said now is the time for resilience for the maritime sector in the face of the crisis. He lauded the IMO’s pathway to net zero shipping by 2050, including setting legally-binding technical and economic measures to curb emissions.

The measures are due for global adoption by late next year as part of the 2023 IMO strategy on reduction of GHG emissions from maritime vessels.

Dominguez said the IMP was focusing on positives such as working with other sectors.

In particular, he said the Organization was working with the energy sector “to see how they can develop and supply energy at a price that will not create a negative impact on states,” especially small island developing states (SIDS).

UNCTAD and IMO organized side events at the forum that promoted decarbonization of the maritime sectors of SIDS and least developed countries in the Caribbean and beyond.

One panel discussion focused on “Climate change mitigation and energy transition,” which took a closer look at the opportunities and challenges for green shipping in the region.

A second session on “Unlocking opportunities for green shipping in the Caribbean” explored how SIDS could take advantage of possible benefits in going green.

Source: https://www.portcalls.com/imo-pushes-for-more-measures-to-decarbonize-shipping/