London Hosts Milestone Meeting for Clean Fuel Ambitions
This week, the city of London plays host to the environmental committee of the International Maritime Organisation, MEPC80. The mission: to further the agency’s policies for reducing greenhouse gas (GHG) emissions from ships. A draft text, outlining the strategy, has been prepared and presented by the working group for consideration.
IMO secretary-general Kitack Lim revealed during a media briefing that the lead-up to MEPC80 had been particularly successful. Nevertheless, key decisions are still to be made, such as specifying the GHG reduction targets for 2030 and 2040 and determining the timeline for achieving net-zero emissions.
Navigating Towards Greener Horizons
The working group responsible for formulating the policy text has proposed two alternatives for marine fuels in its draft document. The first suggests shifting towards zero or near-zero GHG emission technologies, fuels, or other energy sources, to account for a minimum of 5% of the energy used by international shipping by 2030.
As for setting a deadline for achieving net-zero emissions from shipping, the group has presented three potential scenarios. Each one depicts a future where GHG emissions have been reduced significantly when compared to 2008 levels.
Timeline for Reducing GHG Emissions
By 2030, the proposal states that the total annual GHG emissions from international shipping should be reduced by at least 20% when compared to 2008. Moving towards 2040, the plan asserts that the curtailment of emissions should be by at least 70%, about the figures from 2008.
Secretary-General Lim expressed a vote of confidence at the start of the week, insinuating that an agreement would be reached imminently. According to a source from inside the IMO, the committee does not have many options, further reinforcing Lim’s optimism.
Leading the Charge
Julian, Ship & Bunker’s Senior Editor, brings with him over two decades of experience covering the maritime and energy industries. He was previously the editor of the Oxford-based Bunkernews and has held positions at reputed establishments such as Lloyd’s List, Tradewinds, Bunkerworld, and S&P Global Platts.
Widely acknowledged as the leading industry authority, Ship & Bunker offers comprehensive daily news, exclusive in-depth features, along with daily and historical bunker price indications. The publication is globally recognized for its intensive focus on the marine fuel markets.
