Over the past two weeks, IMO member states and organisations have collaborated to align and organise the work towards mid-term measures to decarbonise the shipping industry. MEPC 81 was an important opportunity for all parties to review and discuss the many proposals on the table. The MEPC has agreed on a framework for the mid-term measures including a fuel standard and an economic measure, as well as set up the necessary expert groups, laying the foundation for an agreement that will deliver on the target of net-zero by 2050.

Washington/Brussels/London/Singapore, 15 February 2024 – The global shipping regulator, the UN International Maritime Organisation, has set a target of net-zero carbon emissions by 2050 for the industry, and now needs to develop climate regulations by 2025 that make it possible to reach that target. A core challenge is how to craft a global greenhouse gas pricing regulation that can bridge the price gap between the cleanest fuels and fossil fuels, driving investments in green fuels, without imposing an outsized cost on the global economy. As member nations prepare for negotiations at the IMO MEPC 81 in March, the World Shipping Council is bringing to the table a proposal on greenhouse gas pricing that can help solve this conundrum.

Washington/Brussels/London/Singapore, 7 December 2023 – To deliver on the goal of net zero emissions for shipping by 2050, IMO greenhouse gas regulations must rest on solid foundations. Liner shipping is committed to decarbonising quickly and efficiently, and to support this process the World Shipping Council (WSC) has today published its first contribution to negotiations at IMO MEPC 81, with a paper outlining four cornerstones critical to an effective IMO GHG agreement.

London, 7 July 2023 – At MEPC 80, IMO member nations met the shipping industry’s call for action on climate, setting a target of net-zero GHG emissions by 2050 and interim targets for 2030 and 2040. Most importantly, the updated GHG strategy now sets a clear timeline for the development of the lifecycle-based global fuel standard and economic instrument, to be agreed by 2025 and ready for implementation in 2027.

Washington, Singapore/Brussels, 16 December 2022 – In its first in-person session in three years, the IMO Marine Environment Protection Committee 79 (MEPC 79) addressed a broad array of issues, taking important steps forward on the path to impactful regulation to drive the decarbonisation of shipping.

Having concluded on short-term climate measures at IMO MEPC 78, member nations and organisations have turned their full attention to developing the mid-term measures necessary to progress the decarbonisation of shipping. In a recent paper to IMO ISWG-GHG 13 and MEPC 79, the World Shipping Council (WSC) examines the current proposals, highlighting three key suggestions to support swift progress and ensure that regulations are effective in driving the transition to alternative fuels and propulsion technologies in line with global climate goals.

As the IMO MEPC78 draws to a close, we have seen good progress on several important topics, including on the next phase of the IMO greenhouse gas (GHG) strategy. WSC urges member states to maintain the momentum and step up the crucial work on developing the pathways to decarbonising shipping.

The World Shipping Council (WSC) together with prominent maritime nations and organisations representing all shipping sectors continue to work for the early adoption of an industry financed and IMO led research and development fund as a critical pathway to accelerate the development of technologies for zero carbon shipping.

Transitioning global shipping from a carbon dependent industry into one that operates without greenhouse gas (GHG) emissions is a massive task. Container and roro carriers are already investing in the development of zero GHG technologies and are committed to enabling the industry’s transition to zero, but clear global regulations are needed. The World Shipping Council (WSC) has identified six regulatory and economic pathways, all of which are critical for the nations of the UN International Maritime Organisation to address for a successful maritime energy transition.

“Our appeal to political leaders and regulators is to not get stuck in a cycle of ambition bidding, but to take action for inclusive change in the shipping industry. Whilst we are disappointed there was no decision, the MEPC 77 saw a notable increase in the number of nations supporting the establishment of an industry-financed research fund, pushing USD 5 billion into R&D towards zero-GHG technologies that will be available to all nations. The initiative is ready to launch, has support from the Green Climate Fund, and we will keep supporting member nations working for a positive resolution at MEPC 78,” says John Butler, WSC President & CEO.

The shipping industry has welcomed the growing momentum for a USD 5 billion R&D Fund for shipping, but is calling on governments to act in line with their climate commitments and not waste more time in moving forward with decisive action to support the decarbonisation of the industry.

We are committed to decarbonisation and ready to do our part. The international maritime transportation system drives the world economy. World trade and the world’s economies cannot afford a chaotic decarbonisation of shipping. Nor can time be lost in effectively tackling the challenge. We therefore invite all governments to show engagement and climate leadership on the international stage, through support for the IMRB at the UN IMO.

Ahead of President Biden’s climate summit, shipping industry bodies representing the majority of maritime trade have called on world leaders to quickly commence deliberations on how mandatory market-based measures (MBMs) could be implemented for international shipping.

The proposal to create a USD 5 billion USD International Maritime Research and Development Board (IMRB) was submitted to the UN’s International Maritime Organisation (IMO) on the 10th of March 2021 by Georgia, Greece, Japan, Liberia, Malta, Nigeria, Palau, Singapore, and Switzerland. Denmark now joins as a co-sponsor, and we expect several other nations to voice their support for the proposal at the next meeting of the IMO Marine Environment Protection Committee in June.

Industry partners welcome “moon-shot” proposal from governments to set up a $5 billion USD fund to catalyze the vital research and development needed to help shipping meet UN decarbonisation goals.