Study shows IMO measures will reduce CO2

Tue, 15/11/11

An IMO-commissioned study shows that implementation of new energy efficiency measures for international shipping will lead to significant reductions of greenhouse gas (GHG) emissions.
The study found that 151.5 million tonnes of CO2 will be saved each year, by 2020 as a result of the measures, increasing to 330 million tonnes per year by 2030. This will be achieved though a reduction in fuel consumption which will result in cost savings, although it will require investment in more efficient ships and more sophisticated technologies.  
The study, Assessment of IMO mandated energy efficiency measures for international shipping, was launched on 14 November ahead of the United Nations Climate Change Conference in Durban, South Africa from 28 November to 9 December, 2011.  
The report follows the adoption of mandatory measures to reduce GHG emissions from international shipping by IMO’s Marine Environment Protection Committee (MEPC) in July 2011. The regulations represent the first-ever mandatory energy efficiency measures for an international transport sector.

Work is being carried out on market-based measures that will place a price on greenhouse gas emissions, thereby providing incentives for the maritime industry to invest in more fuel-efficient ships and technologies, operate ships in a more energy-efficient manner, and offset emissions. In addition, these measures can generate funds that could be used for projects to mitigate climate change in developing countries.

Check out IMO’s video on shipping and read the press release here.