CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The International Maritime Organization (IMO) is preparing to roll out its Net-Zero Framework in 2027, pending its formal adoption in 2025. This initiative is designed to curb greenhouse gas (GHG) emissions in the shipping industry and introduces a structured two-tier compliance model, including a variable pricing mechanism for emission remediation units. Shipowners and charterers will need to work together closely to manage these new obligations.
Key Features Of Compliance Model
The compliance structure is built on a two-tier system, with specific GHG intensity (GFI) targets that shipowners must meet. Those failing to comply may face penalties or will need to purchase emission credits. The framework sets a 21% reduction in GFI by 2030, increasing to 43% by 2035, laying out a clear path toward decarbonisation.
Integration With Existing Emissions Regulations
Rather than replacing current systems, the IMO’s new framework will complement existing mechanisms such as the EU Emissions Trading System (ETS) and FuelEU Maritime regulation. These obligations will continue to apply independently. Discussions are ongoing regarding potential harmonisation between EU standards and the IMO plan to avoid overlaps or policy contradictions.
Alternative Fuels And Transitional Solutions
The framework supports a wide range of alternative fuels, including recognition of transitional technologies like liquefied natural gas (LNG). Many LNG dual-fuel vessels form part of the existing alternative-fuel fleet. Ensuring that LNG remains acknowledged as a bridge fuel is essential to its continued commercial and operational relevance.
Enhancing Life-Cycle Assessment Standards
The IMO has proposed updates to its Life-Cycle Assessment (LCA) Guidelines, aiming to provide a more accurate accounting of GHG emissions. The changes include considering:
Indirect land-use change (ILUC) related to biofuels
Methane emissions from LNG
Nitrous oxide emissions from ammonia fuels
These updates aim to prevent misclassification of high-emitting fuels as clean alternatives.
Addressing Black Carbon And Additional Pollutants
Black carbon, a potent climate pollutant from shipping activities, is not yet included in the LCA Guidelines. The IMO is reviewing proposals for mandatory measures to regulate its emissions. Including black carbon could significantly influence the emissions profile of certain marine fuels.
Outlook: Navigating Complexity and Innovation
Although the Net-Zero Framework introduces regulatory uncertainty for the maritime sector especially in terms of operations and contracts it also opens doors for innovation in clean fuel technologies and advanced emissions management strategies. Stakeholders will need to adapt to evolving regulations while seizing the opportunity to lead in sustainable shipping.
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