ICS Urges IMO CO2 Reduction Commitment and Timeline

ICS would like to see IMO Member States adopt a course similar to that agreed by governments in Paris last year.

The International Chamber of Shipping (ICS) Wednesday, pledging its support for the development of a timeline for the reduction of the shipping sector's greenhouse gas (GHG) emissions, urged the International Maritime Organization (IMO) to put forth a CO2 reduction commitment on behalf of the maritime sector as soon as possible.

"We wish to see IMO Member States adopt a course similar to that agreed by governments in Paris and which reflects the spirit of the Agreement. This will help IMO Member States to demonstrate they are serious about building on the real progress already made by the shipping industry to reduce CO2," said Esben Poulsson, ICS' Chairman.

"Our hope is that this can be done in a way that will also be acceptable to developing nations whose support will be vital if IMO is to continue making progress on a global basis."

Poulsson says shipping has a "very good story to tell," as it is the only industrial sector to already have a mandatory global CO2 reduction regime in place - regulation that was applicable to the entire world fleet four years before the Paris Agreement.

"The most recent data from 2014 shows that shipping reduced its total CO2 emissions by over 10 percent in just 5 years, despite continuing growth in maritime trade," said Poulsson.

ICS says that, despite that fact that ships are becoming more efficient, the industry still wants IMO to address the sector's total CO2 emissions, as demand for maritime trade continues to increase alongside population growth and economic development.

ICS notes that the goal is to build on CO2 reductions already achieved in the shipping industry the current IMO CO2 reduction regime already in place.

"The first step will be a global CO2 data collection system for ships, which IMO Member States will officially establish this October, with full industry support. This system should then become fully operational by 2018," said Poulsson.

In May, ICS said that it may be "politically unacceptable" for the IMO to defer the implementation of a 0.5 percent global sulfur cap from 2020 to 2025.