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Is the IMO reaching consensus on MBMs?

The 12th IMO Intersessional Working Group on GHG emissions (ISWG-GHG 12) met from 16 to 20 May to continue discussions on the mid-term measures of the IMO GHG strategy. The debate focused on both technical and economic measures, including market-based measures (MBMs). Agreement emerged to have a ‘basket’ of mid-term measures, with some of the options still left open. This basket would include both a GHG fuel standard and a market-based measure of sorts. Member States broadly agreed that pricing needs to be part of the basket of measures, which was marked as a kind of breakthrough, even though scepticism remains. Although five MBM proposals remain on the table, it appeared that most Member States would prefer a levy-based proposal, rather than an Emission Trading Scheme (ETS).

This confirms earlier IMO discussions on the role of MBMs, which go back more than a decade. The development of mid-term measures is scheduled in accordance with the workplan that was adopted at the 76th session of the Marine Environment Protection Committee (MEPC 76), which foresees the assessment and selection of measures for the period spring 2022 – spring 2023. The report of the 12th IMO ISWG-GHG meeting will be presented to the 78th session of the Marine Environment Protection Committee (MEPC 78), which will take place from 6 to 10 June. MEPC 78 will also discuss fuel availability and equitable energy transition. Also on these critical topics, ISW-GHG 12 saw a more constructive discussion than before. Members of the IAPH Climate and Energy will shortly receive a detailed report on the main points concluded at ISWG-GHG 12 and the MEPC 78 agenda items relevant to ports.
Source: IAPH

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