IMO: Shipping deal will cut emissions by a quarter - Environmental Expert - Source - Business Green

Posted - November 15, 2011 -   Environmental Expert - Source - Business Green - Will Nichols

Emissions from shipping will fall by around 23 per cent over the next 20 years owing to a series of efficiency measures agreed earlier this year, according to the International Maritime Organization (IMO).
Shipping companies must consider operational practices, such as slower speeds, and technology upgrades in order to optimize the energy efficiency of their vessels under the mandatory regulations, while new vessels will have to meet rising minimum efficiency standards from 2015.

A report published by the UN body today predicts that these two measures will result in annual reductions in CO2 emissions of 151.5 million tonnes by 2020 and 330 million tonnes a decade later, equivalent to around 30 per cent of the 1,100 million tonnes the Committee on Climate Change estimates shipping produced in 2007.
Compared with the IMO's business-as-usual scenario, this is a reduction in fuel consumption and emissions of 13 per cent and 23 per cent by 2020 and 2030 respectively, slightly below the organization's estimate in July. By 2050, the figure is set to reach 39 per cent.
As a result, the industry is expected to save up to $310bn in annual fuel costs by 2030, although the IMO said that $200bn is a more likely figure.
Significant emissions from operational changes are likely to be realized before technical measures are introduced, the IMO says, with most of the initial savings resulting from sailing vessels at slower speeds
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