IMO Moves Forward (Slowly) With Framework for Net-Zero Fuels and Fees
The eighty-first session of the Maritime Environment Protection Committee (MEPC) of the International Maritime Organization concluded on Friday after a week of meetings in London with what at best was being called a “step forward” or “progress toward the goals” for reducing shipping’s carbon emissions. While the meeting was not for the adoption of the regulations, many are still saying the progress is slow and highlights that much still needs to be done between now and the next MEPC meeting in the fall which calls for steps adopting the initiatives outlined in 2023. Member States met this week to debate and raise concerns about the key elements of the MEPC strategy adopted in July 2023. The IMO hailed last year’s efforts highlighting broad agreement for the climate roadmap that calls for reaching net-zero emissions "by or around, i.e. close to, 2050." The specific targets in the agreement include a 20 percent cut in emissions by 2030 and a much deeper 70 percent cut by 2040 (relative to 2008 levels). In the nine months since then, the IMO has been working on a framework for the key elements while…