The absence of global regulations will increase the costs of this transition in the long run, it will incite a proliferation of regional and national climate measures.
The IMO Net-Zero Framework is not perfect, but it provides a balanced basis for further work on several elements ahead of its entry into force in 2027, says the International Maritime Organisation Secretary-General Arsenio Dominguez.
He acknowledged debates and proposals on how to best translate the strategic objectives of the 2023 IMO GHG Strategy into binding regulations for several sessions, saying the process has been inclusive and thorough. “Priorities and concerns have been duly considered in the final design of the IMO Net-Zero Framework, which was approved at the last session.”
Speaking at the 2nd Extra-Ordinary Session of the Maritime Environment Protection Committee (MEPC. ES/2), Dominguez said that some may find the outcome not climate ambitious enough, and would have liked to see steeper reduction curves to effectively contribute to reducing global warming. “Others believe that the GFI reduction requirements are overly stringent and will place a burden on the shipping industry. Some of you are of the view that there will not be sufficient alternative fuels available to ensure compliance, whilst others believe that robust global regulations will send a clear demand signal to fuel and energy producers.”
He added that some would have preferred a stronger commitment to supporting developing States, and additional support for early-movers. The IMO Secretary-General assured the delegates that their views and different positions would be respected.
Transition Has Started
Dominguez said the energy and digital transition of shipping have already started. “However, the absence of global regulations will increase the costs of this transition in the long run. It will incite a proliferation of regional and national climate measures, leading to inefficiency and a myriad of emissions pricing schemes, without IMO – all of you the Member States – or the industry having a say in how to use the collected revenue.”
He highlighted that prolonged uncertainty will put off investments and diminish confidence in the IMO. “The IMO Net-Zero Framework is a set of goal-based provisions; no specific fuel or technology has been excluded from the NZF as a compliance option.”
