IMO delays decision on CO2 emissions
The International Maritime Organisation (IMO) has commissioned another CO2 estimate of its sectors emissions, putting a decision about market-based measures for cutting CO2 on hold. IMO have already received two estimates, the most recent in 2009 finding that shipping was responsible for 2.7% (870m tonnes) of global emissions with exhaust gases cited as the primary source of GHG emissions from ships. The committee in a press release stated that, as the current estimate did not take into account the economic downturn, an updated GHG emissions estimate would provide the committee with reliable and up to date information to base its future decisions on. Furthermore it argued “updated emissions estimate would also provide a baseline to enable the impact to be assessed of technical and operational energy efficiency measures for international shipping that entered into force on 1 January 2013”. It has also emerged that ships of 5,000 gross tonnes or above with be required to report and verify their CO2 emissions from 2017. This regulation, currently in draft format, will affect around half of the EU fleet but more importantly it will cover about 90% of its emissions. The requirement would be compatible with the other measures under discussion including emissions trading and efficiency standards, as it will be based on data that ships are already required to collect. The draft proposal should be due out in June while the new CO2 assessment is due to be completed in 2014 READ MORE.