IMO has launched a joint project with Norway to help the shipping industry cut emissions by at least 50% from 2008 levels by 2050. This was announced as the IMO’s MEPC is meeting in London for its 74th session this week (MEPC 74), to address key environmental challenges for shipping.
As part of the so-called GreenVoyage-2050 project, the Norwegian government is providing 10 million NOK ($1.1 million) for the first two years and additional funding subject to government approval for 2020 and subsequent years.
The scheme aims to enhance government and port efforts to achieve emissions cuts through legal and policy reforms, national action plans, private sector partnerships and new technology projects, IMO was quoted as saying by Reuters.
More than 50 countries across the world are expected to participate, with eight countries from Asia, Africa, the Caribbean, Latin America and the Pacific region taking pilot roles.
The IMO said this will then spur more action by supporting other countries in their regions to follow.
In its landmark 72nd session of MEPC in April 2018, the IMO adopted its initial strategy to to reduce CO2 emissions by at least 40% by 2030, pursuing efforts towards 70% by 2050, compared to 2008, as well as to halve shipping’s GHG emissions by 2050 compared to 2008.
MEPC 74, which is taking place on 13-17 May 2019 in IMO headquarters, has put reduction of greenhouse gas emissions from ships as a key agenda item. A working group is expected to be established, while the fourth IMO GHG study is expected to be initiated, the procedure for assessing the impact on States of new measures will be considered and possible short-term measures will be discussed.