Universal GHG Contribution by Ships 'Remains Firmly on the Table': ICS

The working group event this week precedes next week's meeting of the IMO's Marine Environment Protection Committee. Image Credit: Ship & Bunker

The possibility of imposing a universal payment by the shipping industry for its carbon emissions remains in play following this week's working group meeting at the IMO, according to industry body ICS.

The organisation gave an update on the week's discussions following this week's meeting of the Intersessional Working Group on Reduction of GHG Emissions from Ships at the IMO's headquarters in London.

"The International Chamber of Shipping (ICS) is pleased that progress has been made over the past week but much more needs to be done," the organisation said in a statement on its website.

"Positively the concept of a universal GHG contribution by ships per tonne of CO2e emitted remains firmly on the table, with strong support from a clear majority of IMO Member States.

"There is broad agreement, as advocated by the shipping industry, about the need to reduce the cost gap with conventional marine fuel oil to incentivise a rapidly accelerated uptake of zero/near-zero GHG fuels, so that achievement of net zero emissions by or close to 2050 remains plausible and possible.

"Notwithstanding this strong support for a universal GHG contribution or something similar, ICS acknowledges the legitimate questions about this form of maritime GHG emissions pricing mechanism among some governments such as China and Brazil."

The working group event this week precedes next week's meeting of the IMO's Marine Environment Protection Committee (MEPC), where progress on the UN body's decarbonisation plans will be decided.

The IMO's current timeline for mid-term measures on the reduction of GHG emissions envisages these measures being approved at MEPC 83 early in 2025, before being adopted at MEPC 84 in 2026.