Tag: 2023 GHG Strategy

The Sea Cargo Charter (SCC) is expanding its scope four years after its inception. With 37 signatories already on board, this expansion aims to increase the initiative’s impact on transparency and shipping decarbonisation across the entire industry by allowing charterers and shipowners to monitor and report their emissions under a common framework.  

​IMO MEPC 81, that took place March 18-22, agreed on an illustration of a possible draft outline of an “IMO net-zero framework” for cutting greenhouse gas emissions (GHG) from international shipping. The draft outline illustration lists regulations under the (MARPOL, which will be adopted or amended to allow for a new global fuel standard and a new global pricing mechanism for maritime GHG emissions. 

IMO is advancing discussions on legally-binding ‘mid-term’ measures to help the maritime industry achieve net zero shipping, as set out in the 2023 IMO Strategy on the Reduction of GHG Emissions from Ships. The measures are scheduled for adoption in late 2025. 

During the 2023 SAFETY4SEA Singapore Forum, Capt. Hari Subramaniam, Regional Head – Business Relations of The Shipowners’ Club, reminded us that the clock is ticking as the industry continues to hurtle towards 2030 where the first waypoint of the IMO GHG strategy will be reached.

As the end of each year is always a time of review, reflection, and celebration, in a comprehensive year-end recap, we bring you 23 key moments that have profoundly influenced the shipping industry in 2023, showcasing notable strides toward sustainability.

Today at COP 28, thirty shipping sector leaders have committed to scaling up zero-emissions fuel derived from renewables-based hydrogen to nearly 11 million tonnes by 2030.

The Sea Cargo Charter (SCC) is to revise its reporting framework, aligning its trajectory with IMO's 2023 greenhouse gas (GHG) strategy and expanding its current scope to include ship owners.

Nippon Kaiji Kyokai (ClassNK) has conducted estimations and released a white paper to promote understanding of the 2023 IMO GHG Strategy.

The Poseidon Principles have announced a significant revision to their framework for evaluating and reporting financial institutions’ shipping portfolios’ alignment with climate-related objectives, following IMO's 2023 GHG Strategy. 

In their latest report, UMAS finds that the International Maritime Organization (IMO)’s Revised GHG Strategy creates a very clear onus for a rapid and strong upwards revision of corporate, national and regional actions.