Market Intelligence
UCL Assesses IMO Greenhouse Gas Talks and Revenue System Support
Academic researchers note majority backing among participating member states for a centralised carbon revenue mechanism following recent IMO climate talks.
The UCL Shipping and Oceans Research Group has published its initial evaluation of the 22nd Intersessional Working Group on Greenhouse Gas Emissions at the International Maritime Organization. The discussions regarding decarbonisation frameworks concluded on 4 September in London.
According to the research group, two-thirds of member states taking the floor expressed support for a centralised revenue collection framework. Under this proposal, an operational greenhouse gas price based on a remedial unit fee would disburse funds to reward early adopters and promote an equitable transition.
The assessment noted that while steady headway was achieved regarding the Net Zero Framework, considerable uncertainty continues as another group of participating nations focuses on technical-only approaches.
Source attribution
UCL reacts to IMO ISWG-GHG: ‘Steady progress on the Net Zero Framework’ made but ‘high uncertainty’ remainsGlobal Freight Briefing
The commodity and freight brief, twice weekly
Concise coverage of fuel oil, energy trading and shipping markets for professional readers. No promotional content.