Recently, the International Shipping Association (ICS) submitted a plan to the International Maritime Organization (IMO), detailing the urgent measures that governments must take to help the shipping industry achieve zero net carbon dioxide emissions by 2050.
According to IMO's previous plan, the shipping industry will reduce carbon emissions by 50% by 2050, but ICs is pushing governments to double IMO's current carbon emission reduction target. ICs's plan includes a mandatory R & D Fund for the development of zero carbon technologies and a carbon tax on the shipping industry to accelerate the transition to more expensive zero carbon fuels.
The document points out that the shipping industry must accept the urgent need to accelerate the decarbonization process. Only when governments take the necessary actions can they achieve the goal of zero net emissions in 2050. To this end, the shipping industry has taken unique steps to actively formulate measures that governments must take in order to make decarbonization a reality in 2050.
ICs said that IMO's determination of a net zero emission target would send a strong signal to the shipping industry and energy suppliers, shipyards and engine manufacturers to accelerate and expand investment in green fuels and technologies.
Considering that the average service life of new ocean going ships is 25 years, if the shipping industry wants to achieve the net zero emission target in 2050, thousands of zero emission ships need to be launched by 2030 at least. Therefore, ICS believes that IMO must take necessary emergency measures to accelerate the improvement of technical preparation level. The key step is that governments should approve the establishment of an IMO Maritime Research Fund (imrf) of US $5 billion at the IMO key meeting held in November this year.
The imrf proposal calls for raising $5 billion in the next 10 years by imposing a mandatory fee of $2 per ton of ship fuel to develop new technologies and help the shipping industry achieve emission reduction targets. ICs said that imrf will provide a guaranteed level of funds to accelerate the development of zero emission ships; Imrf is funded by mandatory R & D contributions from global shipowners without the need for the government to use taxpayer money.
In order to accelerate the transition to net zero emissions, ICS also made a comprehensive proposal to list broader carbon tax proposals applicable to shipping. IMO Member States will consider this proposal at their meeting in mid October. The global carbon tax of ICs helps to narrow the price gap between zero carbon fuel and conventional fuel, and can provide billions of dollars for global ports to deploy necessary new fuel infrastructure, so as to achieve the consistency of green transformation of shipping industry, so that both developed and developing countries can achieve net zero emissions by 2050.
News source: international shipping network release time: October 13, 2021
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