Analysis: Market measures a long haul for shipping - Carbonpositive

Posted - October 7, 2010 - Carbonpositive

The time frame for any market-based system to lower greenhouse gas (GHG) emissions in shipping appears to have stretched following the IMO’s marine environment protection committee (MEPC) meeting in London last week. A combination of system design challenges, distrust of market-based measures and a wider political dispute over the equity of international climate change action puts significant obstacles in the way of implementation.
If the debate last week on energy efficiency design measures is anything to go by, it does not augur well for the next stage of GHG measures, market-based measures (MBMs) in the form of emissions trading or bunker levy programmers. An expert group presented an exhaustive 300-page report to MEPC comparing and analyzing a range of MBM proposals for emissions trading and bunker levies. It concluded however that more information is needed on their workings before final recommendations can be reached.
MEPC did resolve that an inter-sessional working group will now be convened to take over the reins from the expert group and will meet next March before reporting to MEPC 62 in July. This is a concrete step forward and more progress than many expected on MBMs, said Dr Anne Marie Warris, environmental advisor at Lloyds Register and who also served in the expert group.

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