Page 17 - INTERCARGO - Annual Review 2023-2024

INTERCARGO ANNUAL REVIEW 2023-2024

Reduction of Greenhouse Gas

(GHG) emissions

INTERCARGO fully supports the IMO’s ambition to achieve net zero emission
shipping by or around 2050. However, the challenges ahead are substantial,
and time is running short to meet these targets. Decisive action from all
stakeholders across the maritime dry cargo chain is needed to succeed
in this global effort.

Shipping is inherently global, requir- A global lifecycle emissions standard for Please also refer to
ing a truly international regulator like the all fuels is essential to provide stability INTERCARGO’s relevant
International Maritime Organization (IMO) for the industry. Our Association actively public communications
to ensure a level playing field for this di- participates in IMO discussions and cor- (https://www.intercargo.org/news/
verse industry and the nations it serves. respondence groups. INTERCARGO’s category/media-releases/)
Achieving net-zero emissions in ship- Emissions Working Group, has been as- such as the most recent:
ping demands urgent progress in de- sessing, the technical aspects of short
veloping green technologies, propulsion term and midterm measures along with • November 29, 2023: INTERCARGO
systems, alternative fuels, infrastructure, the guidelines on lifecycle GHG intensity Statement: Bulk carrier design pre-
and “Green Hubs.” Mechanisms such as of marine fuels (LCA guidelines) and the sents a decarbonisation challenge
the industry’s proposed levy-based eco- Development of Technical Guidance for • July 9, 2024: INTERCARGO State-
nomic measure are vital to facilitate this Safety of Ships using Alternative Fuels. ment on Carbon Intensity Indicator
transition. (CII)
While supporting technical and opera- • July 11, 2024: INTERCARGO joins
Meeting the IMO’s 2030 and 2040 targets tional measures to reduce GHG emis- shipping industry in calls for IMO to
requires a realistic pathway to net-zero sions, INTERCARGO emphasizes the amend flaws in the Carbon Intensity
emissions, where the entire supply chain need to prioritize safety. The associa- Indicator
addresses these challenges holistical- tion will continue engaging in the devel- • September 13, 2024: INTERCARGO
ly with shared responsibility. Stakehold- opment of a robust regulatory framework Proposals Call on IMO to Re-
ers—including shipyards, engine build- for ships using new technologies and al- view Carbon Intensity Indicator at
ers, technology providers, charterers, ternative fuels. MEPC 82
ports, cargo shippers, banks, and insur- • September 23, 2024: INTERCARGO
ers—must collaborate on this journey to For more information, please visit: Calls for Simplicity in Shipping
a sustainable future. Governments must www.intercargo.org/news/topics/ Decarbonization Measures
also play their part by developing the in- emissions
frastructure necessary to ensure global
availability of low- and zero-carbon fuels.

INTERCARGO has been a leading ad-
vocate for a levy-based market-based
measure (MBM) per tonne of CO emis-
2
sions to accelerate the adoption of ze-
ro-carbon fuels. It supports a simple
and effective basket of mid-term meas-
ures, such as the revised International
Maritime Sustainability Fund and Reward
mechanism, which integrates the IMO
Maritime Sustainability Fund with a
streamlined Global GHG Fuel Standard
as a technical measure.

15