ENEN Green’s Post

This important piece addresses the normative division between the #UNFCCC and #IMO instruments on decarbonization of shipping. How do we reconcile Common But Differentiated Responsibilities and Respective Capabilities CBDR-RC in the UN Framework Convention on #climatechange with no more favourable treatment among flag states in the International Maritime Organization instruments. The answer to that question will set the stage for how we approach shipping decarbonization pursuant to the #IMO GHG Strategy 2050. Sindhura Polepalli illuminates the struggle to shape the norms for the next 25 years.

Bold initiatives and innovative projects are guiding the sector to a low-emission future As the European Union (EU) steps up its efforts to reach climate neutrality by 2050, the environmental impact of maritime transport is becoming harder to ignore. Shipping may be essential for global trade, but it’s also a…

The newly released "𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐀𝐜𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐡𝐢𝐩𝐩𝐢𝐧𝐠: 𝐏𝐫𝐨𝐠𝐫𝐞𝐬𝐬 𝐭𝐨𝐰𝐚𝐫𝐝𝐬 𝐒𝐡𝐢𝐩𝐩𝐢𝐧𝐠’𝐬 2030 𝐁𝐫𝐞𝐚𝐤𝐭𝐡𝐫𝐨𝐮𝐠𝐡" report from the Getting to Zero Coalition, UCL Energy Institute, and the UN Climate Change High-Level Champions highlights the significant hurdles and opportunities for decarbonizing the maritime industry. Despite progress in certain areas like regulatory measures and supply chain developments, the report underscores that we are still only partially on track to achieving the goal of 5-10% scalable zero-emission fuels (SZEF) adoption by 2030. The Caribbean, which heavily relies on maritime shipping for economic sustainability, must pay close attention to these developments. As an advocate for equitable climate action, it is crucial to ensure that Small Island Developing States (SIDS) are not left behind in this transition. The report emphasizes the need for coordinated policy measures and investment in zero-emission technologies to prevent the region from being disproportionately affected by the upcoming regulatory changes at the International Maritime Organization (IMO). Let's work together to ensure that the Caribbean remains resilient and ready to navigate these transformative changes in global shipping. 🌊🚢 #MaritimeDecarbonization #ZeroEmissionShipping #ClimateAction #IMO #SIDS #Caribbean #SustainableShipping #GreenShippingCorridors

The recent Science Based Targets initiative update on Scope 3 GHG emissions is an important milestone in refining corporate climate action. However, while the discussion paper offers pathways for GHG mitigation, key guidance is delayed until Q4/2025, resulting in market uncertainty continuing to persist.   Air New Zealand’s decision to shift focus to CORSIA highlights the evolving landscape of climate commitments and the need to align voluntary and mandatory initiatives. As global carbon pricing schemes expand, integrating these approaches will be vital for driving effective and sustained climate action.   To read more on SBTi's Scope 3 paper, visit the link here: https://lnkd.in/gbN4WAWs

Yesterday’s Science Based Targets initiative release on Scope 3 GHG emissions, as part of revisions to its Corporate Net-Zero Standard, was not what many voluntary market actors would have wished for.   A quick recap: In its Scope 3 discussion paper (available here: https://t.ly/H6l_d), SBTi provided a pathway for consideration of GHG mitigation reduction/removal units under different approaches: (i)             Use towards value chain mitigation claims (ii)            Use towards GHG residual emissions (iii)           Use in support of Beyond Value Chain Mitigation claims. The outcome of the paper was that further work is required, and such guidance is not expected to be concluded before Q4/2025!    This does not help #VoluntaryCarbonMarkets and will further delay private sector climate finance mobilisation – which we should all agree is unacceptable given the state of the #ClimateCrisis, with countries continually experiencing record temperatures and extreme weather events. The lack of substantive outcomes and a robust timeline to incentivise corporate action provides a 'canary in the coalmine' moment for SBTi. While creating further market uncertainty, it also potentially undermines the organisation’s legitimacy and relevance to deliver sustained corporate action on climate change. In this vacuum, government-led regulated schemes, such as CORSIA, provide much clearer policies, direction and rules of engagement that are not exposed to self-regulatory systems that lack authority and constantly fight for credibility and legitimacy.    Earlier this week, Air New Zealand announced it was withdrawing from SBTi and removing its 2030 carbon intensity reduction target. For the aviation, there are particular challenges in marrying corporate net zero targets with those mandated through CORSIA – which, unlike SBTi, establishes a legal obligation for clear and robust decarbonisation of the sector. CORSIA is currently in its pilot Phase 1, but in 2028 will become fully operational. Countries like Brazil are already passing internal regulation to support the implementation of CORSIA, with pecuniary penalties in case of non-compliance.   Of course, the international aviation industry is not representative of the whole economic sector, and gaps still persist. But as International Carbon Action Partnership (ICAP) recently highlighted, the number of national and regional carbon pricing schemes are rapidly growing around the world. With this, many other economic sectors will face similar questions to aviation, including how to navigate the complexities of regulation under compliance schemes, vs voluntary schemes that have arguably less teeth.

A levy on shipping emissions will be discussed by governments at International Maritime Organization talks THIS MONTH which could raise significant levies to support climate-vulnerable countries. 🌎 A well-designed levy will speed up the phase-out of GHG emissions, help close the price gap between fossil and sustainable alternative fuels, and send a strong market signal to move towards #ZeroEmission solutions. “But this must be done in a way that is just and equitable, particularly for those in the developing countries most impacted by the climate crisis,” explains Ana Laranjeira of Opportunity Green in Climate Home News. Read the full op-ed 🔗 https://buff.ly/3uUdeXJ #IMO #maritime #ShippingIndustry #levy #ClimateFinance #ClimateCrisis

How can we push the green agenda to tackle the challenges of greenhouse gas (GHG) emissions in the shipping industry?🚢🌱 Green marine fuels are currently scarce and expensive, slowing the much-needed green transition. Last summer, International Maritime Organization member states decided to address the issue by establishing a global fuel standard, and a GHG emissions pricing mechanism, which is set to enter into force by 2027. The World Shipping Council have proposed a Green Balance Mechanism (GBM), fully supported by Maersk, to address the cost imbalance between fossil fuels and green fuels, which requires that ships using fossil fuels contribute money to offset the additional cost for ships using cleaner fuels. The upcoming meeting in IMO’s Marine Environment Protection Committee, MEPC81, will play a key part in discussions regarding the GBM and other proposals at the table. Progress is crucial to deliver on the IMO 2023 strategy and achieve the decarbonization of shipping.     Learn more about the GBM in the video below or by visiting the link 👉🏽 https://lnkd.in/daJBRhgp #Decarbonisation #greenbalancemechanism #greentransition #shipping #Maersk

🌎Ahead of New York Climate Week a World Economic Forum feature by our CEO Vincent Clerc on why the International Maritime Organization meetings is an ideal chance to close shipping’s fuel pricing gap. “If IMO member states agree around ambitious mid term measures, they will accelerate the urgent transition in shipping, if not they will slow it down precisely when it's more necessary. Not acting now risks losing a remarkable chance at influencing a truly global regulation to remove the cost barrier to decarbonizing shipping and, by extension, the global supply chain.” Explains Vincent. Read the full opinion piece here: https://lnkd.in/dbnbFeG2 #maersk #energytransition #allthewaytozero #greenbalancemechanism #wef

📢 The International Maritime Organization (IMO) has taken a significant step towards addressing climate change by committing to create the world's first global carbon price. 📢 This proposal would require shipping companies to pay a fee for every ton of carbon they emit, essentially establishing a tax on carbon emissions within the shipping industry. 📢This move is seen as crucial for generating substantial funds for climate policy and could lead to significant changes within the industry. 📢The challenges and decisions that still need to be addressed, including how the price would be calculated, collected, and distributed, as well as which fuels are considered low-carbon. 📢 Despite these challenges, the IMO's commitment reflects a significant milestone in the global effort to combat climate change. #IMO #ClimateAction #CarbonPricing #ShippingIndustry #ClimatePolicy #GlobalCarbonPrice #CarbonTax #ClimateFinance #SustainableShipping #GreenEconomy #ClimateChangeMitigation #GlobalEffort #ClimateActionNow

Sorry not sorry for shouting: it’s FAB FEB 🎯 #fabulousfebruary I’m always looking forward to February! The 2024 version has already exceeded previous Feb’s 🤩🍀 Can you guess why? 💡 #commercialsustainability ✖️SUSTAINABILITY REPORT. The returning occasion to report on the ended year efforts, accomplishments and progress we’ve made across our Environmental, Social and Governance commitments. #sustainability #ESG ✖️SCIENCE BASED TARGETS. Maersk became the first company to have targets validated by SBTi under the new maritime guidance in line with the 1.5-degree pathway from the Paris Agreement. We’ve been in motion for some time and will continue the path towards the near term and long term targets. #SBTi #netzero ✖️CARBON DISCLOSURE PROJECT. Maersk made the CDP 2023 Climate Change A List, together with only 345 other companies globally. This achievement reflects our tangible actions taken towards our commitment to achieve net zero by 2040. #CDP #climatechange