In an effort to improve the environment, the International Marine Organization (IMO) in 2011 took an important step towards addressing the shipping industry’s carbon footprint, setting targets for greenhouse gas emission cuts. Since then, the IMO has been making further amendments through the years with the aim of moving towards a carbon neutral future by 2050.
The introduction of these IMO regulations can be considered as one of the biggest challenges faced by the bunkering industry at present. Therefore, it is vital to have a thorough understanding of the IMO regulations and what it entails.
Targets Of IMO 2030 Towards A Carbon Neutral Future
IMO adopted the initial mandatory strategy for the reduction of GHG emissions from shipping in April 2018. This policy framework outlined major objectives, which included working towards phasing out GHG emissions from shipping completely as soon as practicable in this century and cutting yearly greenhouse gas emissions from international shipping in half by 2050 compared to their level in 2008. Furthermore, lowering the carbon intensity of international shipping (to lower CO2 emissions per transport task) by at least 40% by 2030 and working toward a reduction of 70% by 2050, compared to 2008 was also seen as an initial target.
Instead of putting a limit on the industry’s overall emissions, the IMO 2030 targets carbon intensity, or the amount of carbon produced for every piece of freight moved around the world, thus aiming to aid the shipping industry’s decarbonization efforts, before moving on to the more ambitious goal of reducing the industry’s total emissions in the years leading up to 2050.
