Letter from London: Shipping GHG targets not all plain sailing

The IMO’s ambitious emission goals are still reliant on as-yet unproven technology

The International Maritime Organization (IMO) agreed new mandatory emission reduction policies for ships—including the establishment of vessel rating systems—at its recent Marine Environment Protection Committee (MEPC) meeting. The IMO says the new measures are “short-term” steps in their eventual decarbonisation plans, which target a 50pc cut in shipping’s GHG emissions by 2050 relative to 2008 levels. And along the way, the IMO has committed to reducing carbon intensity—which compares GHG emissions against cargo carried over distance travelled—by 40pc by 2030 and 70pc by 2050. $100/t – Proposed CO₂ fuel oil levy The latest committee meeting also discussed proposals for a mandatory