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IMO REGULATIONS

In July 2023, the IMO revised its GHG reduction strategy aiming to reach net-zero GHG emissions by 2050.

The revised strategy aims to significantly curb GHG emissions from international shipping. The new targets include a 20% reduction in emissions by 2030, a 70% reduction by 2040 (compared to 2008 levels), and the ultimate goal of achieving net-zero emissions by 2050. 

The strategy now also addresses lifecycle GHG emissions from shipping, with the overall objective of reducing GHG emissions within the boundaries of the energy system of international shipping and preventing a shift of emissions to other sectors.

To ensure that shipping reaches these ambitions, the IMO has decided to implement a basket of regulatory measures. The measures will, according to the agreed timeline, be adopted in 2025 and enter into force in around mid-2027.

The decarbonization targets pose challenges for a range of stakeholders, from ship owners, charterers and cargo owners to ship builders, designers, engine manufacturers, fuel suppliers financiers and policy makers. Reaching these targets will require the application of new and existing technologies, lowering speed and the deployment of large volumes of sustainable zero-carbon or carbon-neutral fuels.

The key to achieving reduction of emission is developing, maturing and scaling up solutions to a level where the cost is acceptable. Regulations should be supplemented by other policy measures and incentives to drive technology development and emission reductions, while at the same time ensuring the shipping activity is not restricted.

Maritime Impact podcasts

  Podcast: How are environmental regulations shaping the shipping market?

Podcast: How are environmental regulations shaping the shipping market?

Host Eirik Nyhus is joined by market analyst Jakub Walenkiewicz to discuss how upcoming and future decarbonization regulations are affecting the shipping market and why to stop trading in certain areas is not an option.

  Podcast: Inside shipping’s decarbonization with IMO’s Sveinung Oftedal

Podcast: Inside shipping’s decarbonization with IMO’s Sveinung Oftedal

Eirik Nyhus, DNV’s Director – Environment for Maritime, is joined by Sveinung Oftedal, a highly respected key voice in the IMO’s journey towards decarbonization.

  Podcast: How can regulators push green fuel availability?

Podcast: How can regulators push green fuel availability?

This episode explores how shipping regulators can improve the availability of zero-carbon fuel solutions. Host Eirik Nyhus is joined by the lead author of DNV’s Maritime Forecast to 2050, Eirik Ovrum, to analyse the strategies available.

  Podcast: Towards 2030: EU Fit for 55 – the latest developments

Podcast: Towards 2030: EU Fit for 55 – the latest developments

Host Eirik Nyhus returns to the topic of the EU’s Fit for 55 package, widely seen as its plan for decarbonization. Eirik reviews the latest maritime regulatory discussions, covering each of the four key shipping regulations.

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