IMO Committee Approves Landmark Emissions Regulation
Meeting in London, a committee of the International Maritime Organization in April agreed to slash greenhouse gas emissions in the decades ahead by weaning vessel use of oil as a maritime fuel.
The IMO’s Maritime Environment Protection Committee agreed to reduce emissions 20% to 30% by 2030, and eventually to net-zero emissions by about 2050.
Under the new terms, vessels will be fined $380 per ton of CO2 emissions in excess of the new levels. Owners of vessels that emit less than the new levels would earn carbon credits which they can amass or sell to underperforming ships.
Operators also could meet emissions criteria by using alternative fuels such as biofuels made from food crops.
Read More at The Maritime Executive
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