Reducing shipping’s CO2 emissions – the Danish Shipowners’ way forward
On Friday 4th November, the Paris Agreement will enter into force and the following week nations will meet at the UN climate summit, COP22, in Morocco to discuss how to implement the climate agreement. It is thus highly relevant to also discuss how shipping should contribute with its fair share of the global CO2 emissions reductions to achieve the Paris Agreement’s goal of staying below 2°C temperature rise.
This is the outset for today's conference on shipping’s carbon footprint arranged by the Danish Shipowners’ Association and the green think tank CONCITO. The Danish Shipowners’ Association believes that shipping must deliver emissions reductions equal to those delivered by the rest of the global economy. CO2 emissions should be reduced sufficiently to keep the sectors share of the global emissions below the current 2.2 percent.
”Shipping must reduce its emissions in pace with the rest of the world, and global reductions should be sufficient to reach the goals of the Paris Agreement. This means that shipping – as the rest of the economy – need to become CO2 neutral by the second half of this century”, says Anne H. Steffensen, Director General and CEO of the Danish Shipowners’ Association.
The Danish Shipowners’ Association wishes to engage in the discussions on shipping’s CO2 emissions reductions and thereforepresents a new scientific study today. The study proposes specific IMO reduction targets needed in order to ensure that shipping contributes with its fair share in meeting the goals of the Paris Agreement.
The study concludes that there are many paths to reach the end-goal of CO2 neutral shipping. The most realistic proposal recommends that emissions must peak no later than 2025. Hereafter, emissions should be reduced to approximately 400 megatons CO2 by 2050, which equals approximately half of the current emissions. Finally, the emissions should reach a net zero in the second half of the century.
IMO strategy for reduction of greenhouse gasses
It is pivotal that regulation of shipping’s greenhouse gas emissions is established globally to ensure a global level playing field and full environmental benefit. The regulation should be established by UN’s International Maritime Organization, IMO, and hence the Danish Shipowners’ Association is pleased that IMO last week adopted a specific road map for a greenhouse gas reduction strategy.
”IMO’s strategy for reduction of greenhouse gasses should establish ambitious reduction targets for specific years, and the new study provides a tangible proposal. At the same time it is important to adopt effective reduction mechanisms, which do not penalize early movers. We specifically support the adoption of a global fuel levy that will effectively finance CO2reductions”, Anne H. Steffensen emphasizes.