Climate change, what challenges does the shipping industry face?

The global shipping industry causing a large amount of carbon emissions is a serious problem, countries are constantly coming up with measures to cut emissions and are being discussed thoroughly by the authorities in Vietnam. meeting organized by the IMO Marine Environmental Protection Committee (MEPC).

The meeting of the IMO Marine Environmental Protection Committee (MEPC), being held in London from 3-7 July, has the potential to leave countries vulnerable to climate change—especially are island nations and archipelagos in the Pacific—and some of the wealthier nations will be at odds with major exporters like China.

The climate crisis is an existential threat to small island developing nations in the Pacific and many others, but can be viewed as less urgent for countries with excess resources. outstanding," Michael Prehn, ambassador of the Solomon Islands to the IMO, told AFP news agency. (excerpted from “The shipping industry faces challenges from climate change” – PHAATA)

‘Net-zero’ – Zero Emission Target
Emissions into the environment account for about 2% of global greenhouse gas emissions, and the shipping industry is considered a misguided industry in the fight against climate change.

Decarbonization efforts require shipping companies to reduce their CO2 emissions by 50% by 2050, compared with levels recorded in 2008.

Some 45 countries – including the European Union, the US, UK, Fiji, the Marshall Islands and Norway – support the ‘Net-zero’ goal for the shipping industry by 2050.

However, according to observers at the negotiations that began at the end of June before the official meeting of the MEPC took place, exporting countries, especially Brazil and China, strongly objected. such adjustment.

Global surcharge tax
In the meantime, another proposal has also been put forward – imposing a global surcharge on emissions from shipping – but it is difficult to get consensus.

After preliminary IMO negotiations, a source said the number of countries supporting the levy had risen to 70, but major exporters including Brazil, China and Australia objected. Representatives from Brazil argued that the tax would only harm food security and punish developing countries.

In addition, the negotiation session also noted disagreement over how these tax revenues will be spent. There is debate as to whether the proceeds should be spent solely on decarbonization of the shipping sector, or whether certain amounts should be used to assist countries dealing with the climate impact.

According to the World Bank, such revenue could generate more than $60 billion in revenue per year.