Despite the relative energy efficiency of shipping compared with aviation, the bulk of the shipping sector still runs on fossil fuels. With the projected growth in international shipping over the coming decades, the sector’s emissions could, worryingly, grow by a cumulative 250% by 2050, if left unchecked.
The UN’s International Maritime Organisation (IMO) is responsible for steering global action to navigate the international shipping sector towards a climate-friendly future. However, these efforts have been blown off course due to a lack of ambition and inadequate goals and targets. If the shipping sector is to achieve its climate goals, the IMO needs to blow more wind in its sails by scaling up ambition and imposing binding targets on the sector.
As a member of the Clean Shipping Coalition (CSC), Carbon Market Watch is an official observer at the IMO, follows its climate policy development process and recommends policies to improve the climate performance of the global shipping sector.
When it comes to international shipping, Carbon Market Watch focuses on:
The shipping sector must set course toward a climate-friendly future
The shipping sector must set course toward a climate-friendly future
Raising the IMO’s climate ambition to a level that is compatible with the goals of the Paris Agreement
Action at national and regional levels to bring down shipping emissions in different jurisdictions
Embarking on an equitable transition for the shipping sector that leaves no country behind
Binding emissions reduction targets for shipping companies that are in line with the Paris Agreement
Instead of a meaningful carbon levy, the International Maritime Organisation (IMO) recently agreed on an inadequate hybrid scheme combining a fuel standard with weak carbon pricing. Despite its climate failings, IMO member states must strengthen this compromise against further efforts to water it down.
With the growing momentum for the adoption of a global carbon levy on international shipping this year, the European Union’s proposal must go stronger on justice and equity.
CMW welcomes the proposed integration of the maritime sector into the UK Emissions Trading Scheme as of 2026.
This Carbon Market Watch policy briefing assesses and scores the various proposals of parties to the IMO to decarbonise the shipping industry
The proposed inclusion of international maritime transport in the EU Emissions Trading System (EU ETS) is not only fair and in line with the ‘polluter pays’ principle, but also essential to helping the sector decarbonise.
sam.vandenplas[at]carbonmarketwatch.org
eleanor.scott[at]carbonmarketwatch.org
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