IMO DELAYS LAUNCH OF THE R&D DECARBONISATION FUND
Paul Bartlett from Seatrade Maritime News reported yesterday that the IMO’s Marine Environment Protection Committee (MEPC) has decided this week to delay a decision on the launch of the industry’s $5bn decarbonisation fund until next year, pending further discussion on the operation and priorities of the fund. This will further delay a significant number of research projects in maritime decarbonisation which are currently on hold due to a lack of funding.
The article criticises IMO’s decision-making process, which requires a consensus among 175 countries with often diverging interests to adopt and implement policy measures. This process undermines efforts to work towards global environmental measures at IMO level, despite the calls following COP26 in Glasgow which renewed pressure on the organisation to tighten further carbon reduction targets that it has already set out. In view of the slow progress at IMO, CLECAT welcomes the fact that the EU is taking leadership with its Fit for 55 proposals. Revenues generated from auctioning of allowances from maritime transport should be used to fund R&D projects to help the uptake and deployment of low- and zero-emissions technologies in maritime transport.
Source: Seatrade Maritime News