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Jun 2018

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International Maritime Organization adopts climate change strategy for shipping

Source: Asia Insurance Review | Jun 2018

Global Marine Risk Management

The United Nations International Maritime Organization (IMO), which comprises over 170 member nations has adopted an initial strategy on the reduction of greenhouse gas (GHG) emissions from ships.
 
   The initial strategy envisages for the first time a reduction in total GHG emissions from international shipping which, it says, should peak as soon as possible, and a reduction in total annual GHG emissions by at least 50% by 2050 compared to 2008, while at the same time, pursuing efforts towards phasing them out entirely by this century.
 
   The strategy also specifically referred to ‘a pathway of CO2 emissions reduction consistent with the Paris agreement temperature goals’ and identifies barriers and supportive measures including capacity building, technical cooperation and research and development.
 
   IMO has already adopted global mandatory measures to address the reduction in GHG emissions from ships. It is also executing global technical cooperation projects to support the capacity of members, particularly developing states to implement and support energy efficiency in the shipping sector. A 
 
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