Shipping prepares for climate change talks

‘Shipping, World Trade and the Reduction of CO2 Emissions’ is being distributed via ICS member national shipowners’ associations. The document appears in advance of the next United Nations Climate Change Conference (COP 17), which commences in Durban at the end of this month.

ICS Secretary General Peter Hinchliffe said: “The international shipping industry is firmly committed to reducing its CO2 emissions by 20% by 2020, with significant further reductions thereafter. However, the Durban Climate Change Conference needs to give the International Maritime Organization a clear mandate to continue its vital work to help us deliver further emission reductions through the development of market based measures.”

The shipping industry hopes that governments at COP 17 will respond positively to the IMO agreement – which by 2030 should reduce ships’ emissions by 25 to 30% – the first ever international agreement containing binding and mandatory measures to reduce CO2 emissions that has so far been agreed for an entire industrial sector.

The IMO appears to be in a good position to continue the real progress it is making on market based measures to help deliver further emissions reductions. This includes a possible shipping industry environmental compensation fund, with possible linkages to any ‘Green Fund’ agreed by UNFCCC – which could see the majority of funds raised from international shipping being put to environment related projects in developing countries – including climate change mitigation and adaptation.