Dieter Janecek, Federal Government Coordinator for the Maritime Industry and for Tourism, welcomes the agreement which was reached at the International Maritime Organization (IMO) on the 7th of July 2023. He said:

“Today is an important day for the mitigation of climate change: IMO has adopted more stringent climate targets to foster the decarbonisation of maritime transport. With the new strategy, the Organization has successfully reached a global agreement which brings us closer to the 2050 net zero target. Together with the interim targets for 2030 and 2040, we have a clear reduction plan. This step is right and important. We now need to make sure that the long-term temperature target set out in the Paris Agreement will be attained by implementing the strategy. The Federal Government will keep advocating this at the international level.”

The 2023 IMO Strategy on the Reduction of GHG Emissions from Ships was adopted today during the 80th session of the Marine Environment Protection Committee (MEPC 80).

The revised climate targets for shipping are the major outcome of the strategy, according to which greenhouse gas (GHG) emissions from international shipping are to be reduced to reach net zero climate neutrality by around 2050 in line with the long-term temperature target set out in the Paris Agreement.

Agreement has also been reached on the important interim targets for the years 2030 and 2040. The aim is to reduce total annual GHG emissions from international shipping by 30% (or at least 20%) by 2030 compared with 2008. GHG emissions are to be reduced by 80% (or at least 70%) by 2040 compared with 2008.

IMO also set itself a goal regarding climate-neutral technologies, fuels and energy sources. The aim is to cover 10% (or at least 5%) of the energy consumption of international shipping by using such technologies.

In addition, IMO’s strategy sets out an ambitious timeline for the adoption of measures to attain these targets. A basket of measures is to be adopted in 2025 and to enter into force 16 months later. The basket of measures will consist of a technical element, namely a goal-based marine fuel standard regulating the phased reduction of the marine fuel’s GHG intensity, and an economic element, on the basis of a maritime GHG emissions pricing mechanism.

You can find more information at: https://www.imo.org/en

Source: Federal Ministry for Economic Affairs and Climate Action