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The International Maritime Organization (IMO) recently agreed to establish an expert group for the purpose of conducting a feasibility study on market-based instruments to cut greenhouse gas emissions from ships. The group will look critically at options such as bunker fuels and emissions trading, and will ultimately prepare an impact-assessment report.
The creation of the group follows in the wake of some unilateral efforts outside the IMO aimed at reducing shipping emissions, such as the adoption of an Emissions Control Area around the US and Canadian Coastlines (See Bridges Trade BioRes, 2 April 2010, http://ictsd.org/i/news/biores/73577/).
International shipping currently contributes nearly 2.7 percent of global warming emissions, with some observers predicting that this number will rise dramatically by 2050. Still, the IMO has been slow in instituting emissions curbing regulations or programs; the UN Framework Convention on Climate Change (UNFCCC) has been under pressure to pick up the slack....
http://ictsd.org/i/news/biores/74127/
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