Regulation promotes technological innovation to address climate change
By 2050, the International Energy Agency (IEA) believes that almost half the toxic emissions reductions will come from technologies currently at the demonstration or prototype phase. Thus, investing today in technological innovations is a must to meet the net-zero goals of the future.
June 17 2021
The International Maritime Organization (IMO), the United Nations specialized agency responsible for preventing marine and atmospheric pollution by ships, meets this week to addresses environmental issues in its Marine Environment Protection Committee (MEPC). The agenda focuses on actions to tackle climate change, including adopting short-term measures to cut the carbon intensity of ships and discussion on the way forward with the next steps.
The IMO is committed to cutting greenhouse gas (GHG) emissions from ships. In 2011, the IMO adopted mandatory GHG reduction measures, and in 2018, the IMO implemented its Initial Strategy on reducing GHG emissions from shipping.
The International Convention for the Prevention of Pollution from Ships (MARPOL) is the main international convention covering the prevention of pollution of the marine environment by ships from operational or accidental causes.
The MEPC will consider drafting amendments to the MARPOL convention that would require ships for a combined technical and operational approach to reduce their carbon intensity. The amendments are in line with the ambition of the Initial IMO GHG Strategy, which aims to reduce the carbon intensity of international shipping by 40% by 2030, compared to 2008.
Furthermore, the IEA recently launched its first-ever roadmap to net-zero emissions by 2050. To achieve these targets, collaboration and financial supports are vital. In addition, investments in clean energy innovation are a must.
The Paris Agreement, where 196 parties agreed on a legally binding international treaty on climate change, has set the pace and course on reducing global warming. Governments are following up with action plans and regulations to meet the net-zero economy for the future.
To achieve net-zero, we need determination and strong collaboration around the globe. The pathway to a sustainable future has a history back to 1973. However, it is only during the last decade that it has developed more rapidly and determined, with more collaboration across borders and governments setting the pace.
Read more about "Net Zero by 2050, the Paris Agreement and the IMO here > We also highlight what this means in terms of future expected regulations. Finally, we also address why a multi-pollutant technology solution is essential to a market in rapid change.
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