COP26: coalitions add pressure to IMO, carbon levy gains traction

“We have left GHG reductions so late that if we delay investment until policy solutions at IMO are implemented, global trade risks a late and disruptive transition, said UCL Energy Institute professor and UMAS director Dr Tristan Smith.

With IMO moving too slowly, Dr Smith said the First Movers Coalition asks shipping’s ’customers’ to take responsibility for their maritime emissions while being motivated by the risks of disruption to their supply chains "if we get this wrong".

"This is already making business cases for investment in the long-run hydrogen-based solutions this sector needs, and prepares shipping’s transition for the forthcoming implementation of IMO policies that can then further scale their deployment,” said Dr Smith said.

With commitments to buy zero-emissions fuels, the cargo owners involved would be creating "early markets for critical technologies needed to achieve net-zero by 2050" both inside and outside of the shipping sector, according to Special Envoy Kerry.

Those cargo owners would then follow through on targets to ship at least 10% of their goods on vessels using zero-emissions fuels by 2030, and 100% by 2040.

Climate Vulnerable Forum (CVF) calls on IMO for shipping carbon tax

A coalition of more than 50 nations which are considered among the most vulnerable to climate change has, at COP26, released their Dhaka-Glasgow Declaration. The declaration, among other things, calls on IMO to enact a carbon tax or levy to fund research and development of emissions-lowering fuels and technologies.

As part of its overall push for the world to deliver on the so-called US$100Bn/year Climate Emergency Pact – which aims to get the world’s wealthiest and most-emitting countries to make financing and technologies available for climate change mitigation measures within CVF countries – the CVF also singled out the maritime industry.

"We call upon further urgent discussion, study and work of the IMO for establishing a mandatory GHG levy on international shipping to ensure that IMO emissions measures are fully aligned with a 1.5ºC pathway," the CVF declaration said.

"We recognise the need for the shipping transition to next-generation vessels and fuels to be equitable and benefit all states. We support that the majority of the levy’s revenues be employed as additional financial support for urgent climate actions, particularly by the vulnerable developing countries. We urge members to consider adopting ambitious targets in domestic maritime emissions for a transition to zero emissions that leaves no one behind."