
47 Countries and industry join forces in joint text
This article is a press release by the International Chamber of Shipping (ICS)
Text for GHG emissions pricing mechanism
To achieve net zero greenhouse gas
The joint text is supported by major shipping nations such as Greece, Japan, Korea and the United Kingdom, the world’s largest flag States including Bahamas, Liberia, Marshall Islands and Panama, all EU States (and the European Commission), other African countries such as Nigeria and Kenya, plus Small Island Developing States from the Caribbean and the Pacific.
The joint submission by governments sets out convergent regulatory text for amendments to the IMO MARPOL Convention, which will require shipping companies operating ships on international voyages to make GHG contributions per tonne of CO2e emitted to a new “IMO GHG Strategy Implementation Fund”.
The key purpose of this mandatory GHG charge will be to reduce the cost gap between
