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Distributing carbon revenues from shipping

Dominioni, Goran orcid logoORCID: 0000-0002-3795-2617, Rojon, Isabelle orcid logoORCID: 0000-0001-8689-7442, Salgmann, Rico, Englert, Dominik, Gleeson, Cáit and Lagouvardou, Sotiria orcid logoORCID: 0000-0002-9380-3720 (2023) Distributing carbon revenues from shipping. Technical Report. World Bank.

The International Maritime Organization (IMO), the specialized United Nations agency responsible for international shipping, aims to reduce greenhouse gas (GHG) emissions from the shipping sector. International shipping accounts for approximately three percent of global GHG emissions. The Initial IMO GHG Strategy, adopted in 2018, aims to peak GHG emissions from international shipping as soon as possible, reduce them by at least 50 percent by 2050 over the 2008 levels, while pursuing efforts to phase them out on a pathway consistent with the Paris Agreement temperature goals. More ambitious GHG reduction targets are being discussed for inclusion in the revised strategy, which is expected to be finalized in July 2023. The IMO is currently negotiating the policy measures that must be adopted to meet GHG emissions reduction targets. Achieving the sector’s climate targets requires a policy environment that maximizes energy efficiency, supports the uptake of zero-carbon bunker fuels and technologies, and makes them cost-competitive with fossil-based fuels. In line with the Initial IMO GHG Strategy, climate negotiations at the IMO are focused on identifying additional measures (“mid-term measures”) to reduce GHG emissions from ships. Such measures could materialize as technical standards or market-based measures like carbon pricing instruments.
Item Type:Monograph (Technical Report)
Subjects:Social Sciences > Globalization
Social Sciences > Law
Social Sciences > Political science
Social Sciences > Public administration
DCU Faculties and Centres:DCU Faculties and Schools > Faculty of Humanities and Social Science > School of Law and Government
Publisher:World Bank
Copyright Information:© 2023 International Bank for Reconstruction and Development / The World Bank
Funders:World Bank
ID Code:28854
Deposited On:31 Jul 2023 13:59 by Thomas Murtagh . Last Modified 09 Aug 2023 09:09

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