ICS proposes GHG Fee to achieve IMO 2050 emission goals
NewsThe International Chamber of Shipping, with Bahamas and Liberia, proposes a GHG Fee and feebate system to achieve net zero emissions in shipping by 2050.
ICS is disappointed to see that the proposed resolution clarifying the current status of the CII rating system did not receive support from Member states.
The International Chamber of Shipping (ICS) has released a statement following the conclusion of the IMO Marine Environment Protection Committee (MEPC 81) meeting held last week:
“We welcome the progress made during these intensive negotiations to achieve net zero emissions from shipping, and the support received from around 60 Member States for a flat rate contribution system per tonne of GHG. The purpose of the proposed system, put forward by the International Chamber of Shipping, is to reduce the cost gap and incentivise the accelerated uptake of green marine fuels, as well as provide billions of dollars to support the maritime GHG reduction efforts of developing countries.
We have gained a better understanding of the concerns of those governments who still have questions about our proposed feebate mechanism. ICS will seek to address these concerns with all governments before the next round of IMO negotiations in September, to help ensure that the necessary regulatory framework can be adopted next year, for global implementation by 2027.
ICS is also delighted to see the following positive outcomes from the meeting, and is proud to have contributed to these:
As a co-sponsor, ICS was disappointed to see that the proposed resolution clarifying the current status of the Carbon Intensity Indicator (CII) rating system did not receive sufficient support from Member states.
However, we were heartened to see wide acknowledgement of the need to address the irregularities that have emerged. This heightened awareness is a positive outcome for the ongoing CII review as we must have a workable system to ensure the industry reduces emissions.
ICS trusts that all delegations can work towards an improved CII system that incentivises correct behaviours and fully aligns with the objectives of the 2023 IMO GHG Strategy.”