Shipping accounts for a few percent of global greenhouse gas emissions, but is a growing source of emissions.
That's why it received significant attention in global media when the UN's shipping organization IMO announced in April that it had agreed on a new global framework. It is described as the first in the world to combine mandatory emission reductions with a price on greenhouse gases across the entire shipping sector.
The idea is that large emitters pay more, which to some extent should be able to cover those who emit less.
Economically, it would mean that global shipping around 2030 will be covered by costs in the form of fees for its emissions of approximately 37 billion dollars, says Fredrik Larsson at the industry organization Swedish shipping.
These are significant figures.
It will most likely mean that we will get down to net-zero by 2050. It sends a very strong signal to shipping to transform, to become more energy-efficient.
”Absolutely” risk of failure
The UN writes in a news post that the proposal is expected to be adopted at the meeting in October. But it is far from certain, according to Swedish shipping. It is now out for review by the world's governments, and for it to be able to be adopted in October, a qualified majority of at least two-thirds of the member states is required.
Given the voting figures we had when the proposal was approved, we need an additional ten countries that vote yes for this to come into force, says Fredrik Larsson.
He says that there is absolutely a risk that the proposal will fail, but dares not say for sure.
I think it's going to be very tight.
”Can be toothless”
Even if the proposal becomes a reality, the countries that disapprove of the proposal will not have to implement it, for example, all ships to and from the USA, according to Swedish shipping.
It can be toothless, but it can also be that the countries that do not accede immediately may do so a little later. From the industry's side, we want a global mechanism so we get the same rules.
If the proposal falls apart, on the other hand, more regional regulations are likely to follow, such as the EU's emission trading system, if the agreement is not adopted.
It will be very messy, says Larsson.
Facts: To reduce emissions from shipping
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According to the new regulations, ocean-going vessels over 5,000 gross tons will be covered It is intended to be formally adopted at the IMO meeting in October and consists, simplified, of three levels. From 2028, vessels that emit little will be exempt from fees. For the middle level, a penalty fee of $100 per carbon dioxide equivalent will be paid. Those who emit more than the higher level will either have to buy emission rights or pay a higher penalty fee of $380 per ton. Vessels that emit little can, in turn, sell their surplus of emission rights to large emitters. To be adopted, a yes from 72 member states out of 108 is required. When the decision to send out the framework for review was made, 63 voted yes, 16 no, and 24 abstained. Sources: IMO, Gard, EU.
