International Maritime Organization aims to speed up global decarbonization efforts
The International Maritime Organization (IMO), a UN agency, is working on a greenhouse gas strategy for international shipping.
Their aim is to achieve net-zero emissions by 2050. During a recent meeting in London, member countries discussed this issue and are expected to reach an agreement soon.
The IMO had previously set a target in 2018 to reduce emissions by 50% by 2050, based on 2008 levels.
However, there is now a push to speed up this timeline due to global decarbonization efforts.
The shipping industry currently contributes 2% of global CO2 emissions, equivalent to Germany’s emissions.
To significantly reduce this carbon footprint, ships will need to adopt clean-burning fuels like hydrogen and ammonia.
Discussions at the meeting revolved around establishing rules to achieve this target.
One proposal suggests gradually reducing annual emissions for larger ships, regardless of the fuel used.
Another proposal advocates for a carbon tax on ships using fossil fuels and subsidies for greener alternatives like hydrogen.
Safety standards for hydrogen and ammonia as marine fuels are currently lacking.
The Japanese transport ministry plans to develop guidelines to address this gap and promote their use.
Japanese shipping companies are already taking steps to reduce emissions. Mitsui O.S.K. Lines will invest US$2.43 billion over the next three years to transition to alternative fuels like methanol and ammonia.
Nippon Yusen plans to allocate $4.3 billion until 2031 to introduce ships powered by liquefied natural gas and ammonia.
Kawasaki Kisen is using artificial intelligence to improve efficiency and reduce emissions.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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