IMO Net-Zero Target by 2050

Padmesh Prabhune

The International Maritime Organization (IMO) has adopted the 2023 IMO Strategy on reducing greenhouse gas (GHG) emissions from ships at the 80th session of the Marine Environment Protection Committee, held last week at IMO Headquarters in London during the week of 3-7 July 2023. This comes four months after an IMO working group made progress in developing the draft 2023 IMO Strategy on reduction of GHG emissions from ships.

Accordingly the updated IMO GHG Strategy contains an increased shared objective to achieve net-zero GHG emissions from international shipping “by or around 2050”, a commitment to ensure the use of alternative zero and near-zero GHG fuels by 2030, and indicative check-points for 2030 and 2040.

IMO Secretary-General Kitack Lim said: “The adoption of the 2023 IMO Greenhouse Gas Strategy is a monumental development for IMO and opens a new chapter towards maritime decarbonisation. However, with the Revised Strategy that you have now agreed on, we have a clear direction, a common vision, and ambitious targets to guide us to deliver what the world expects from us.”

“Above all, it is particularly meaningful to have unanimous support from all Member States. In this regard, I believe that we have to pay more attention to support developing countries, in particular SIDS and LDCs, so that no one is left behind,” he added.

IMO is the United Nations specialized agency with responsibility for developing global standards for shipping and supporting countries to implement those rules. The Initial IMO Strategy on reduction of GHG emissions from ships was adopted in 2018.

–Marex Media