CO2 Emissions

CO2 Emissions

The shipping industry fully supports the COP21 Paris Climate Agreement aiming to tackle climate change and believes that the sector must globally play its fair part in reducing CO2 emissions.  The shipping industry is committed to developing CO2 reductions across the world merchant fleet that are both ambitious and realistic.

The International Maritime Organization (IMO) approved a Roadmap for developing a comprehensive strategy on reduction of greenhouse gas (GHG) emissions from ships, to be adopted in 2018. An agreement on targets and measures, including an implementation plan, will be adopted in 2023 once real time emissions data have been analysed.

The EU has shown leadership when implementing its CO2 strategy for shipping. The first step consists of a regulation to monitor, report and verify (MRV) CO2 emissions of shipping, which was adopted in 2015. In 2017, shipowners will have to submit a CO2 monitoring plan to external verifiers and the actual monitoring and reporting will start in 2018. When we have a real understanding of the emissions, we can then set realistic targets.

MRV regulation should now be properly implemented and it should be made certain that the regulation is aligned with the IMO framework. This will ensure that European shipping will be covered by a single system, in an efficient manner without double work.

International Chamber of Shipping (ICS) has suggested CO2 reduction objectives for the international shipping sector, namely

  • To maintain international shipping’s annual total CO2 emissions below 2008 levels (2008 as the year in which CO2 emissions from the international shipping sector reached their peak); 
  • To reduce CO2 emissions per tonne-km, as an average across international shipping, by at least 50% by 2050, compared to 2008;
  • To reduce international shipping’s total annual CO2 emissions by an agreed percentage by 2050, compared to 2008, (this percentage to be agreed by IMO as part its CO2 reduction strategy).

IMO's third greenhouse gas study