ICS Chairman Sets Out Plan For Co2 Reduction By Shipping Sector

International Chamber of Shipping (ICS) stresses that IMO should adopt objectives for the entire sector, not for individual ships, in the same way that governments have already agreed CO2 commitments for their national economies under the Paris Agreement. If IMO decides to develop a Market Based Measure, ICS says that the clear preference of the industry is for a bunker fuel levy.

ICS says the sector’s total CO2 has already been reduced by more than 10% between 2007 and 2012. But projections for trade growth suggest that dramatic reductions in the sector’s total CO2 will be difficult to achieve until alternative marine fuels (such as hydrogen or fuel cells) become widely available in at least another 20 or 30 years.

According to the United Nations, 60% of maritime trade now serves developing nations.

(ICS)