{"id":77506,"date":"2024-03-20T00:00:00","date_gmt":"2024-03-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/"},"modified":"2024-03-20T00:00:00","modified_gmt":"2024-03-20T00:00:00","slug":"imo-looks-to-transform-its-revised-ghg-strategy-into-regulation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/","title":{"rendered":"IMO looks to transform its Revised GHG strategy into regulation"},"content":{"rendered":"

The IMO is taking steps to implement its Revised GHG Strategy:<\/strong> The IMO finalized some of its mid-term measures including adopting both a GHG Fuel Standard \u2014 a mandate on GHG intensity of fuel and energy \u2014 as well as a GHG pricing regulation, according to a press release<\/a> by maritime shipping consultancy outfit UMAS. The measures were finalized at the IMO\u2019s first working group meeting since the adoption of a Revised GHG Strategy<\/a> in July 2023 and explicitly linking 2030 and 2040 GHG reduction standards with momentum also building on a universal GHG levy, the statement notes. <\/p>\n

The IMO is determined to iron out a binding regulatory framework within a year,<\/strong> with a decision due by a future IMO\u2019s upcoming MEPC 83 in Spring 2025, UMAS said. Despite broad agreement in the Revised GHG Strategy for a need for both a fuel standard and a carbon levy, the IMO\u2019s secretariat and members have the \u201cunenviable\u201d task of converting these goals into regulation. One significant outcome from ISWG-GHG 16 working group meeting was an agreement to bind the GHG intensity limits of the GHG fuel standard, now dubbed goal-based marine fuel standard, to GHG reduction goals and \u2018indicative checkpoints,\u2019 a term which some members had previously considered too ambiguous. Differences remain however in terms of how a fuel standard and carbon levy can be combined, UMAS explained.<\/p>\n

What options are on the table? <\/strong>14 member states, primarily representing middle income economies, have voiced a preference for a flexible fuel standard, referred to as a credit trading mechanism or Emission Trading System (ETS), with no carbon levy, UMAS said. 18 countries, mostly representing small island developing states (SIDS) and least developed countries (LDCs) expressed a preference for a more rigid fuel standard in combination with a carbon levy. 16 countries, mostly representing developed economies, indicated a preference for a fuel standard with some flexibility (such as credit trading system or ETS), in unison with a universal carbon levy. All of the preferences discussed would generate revenues, but members also differ on how those proceeds should be disbursed, UMAS said. <\/p>\n

What did opponents of a carbon levy say?<\/strong> Proposals for a carbon levy saw pushback from countries including China and Brazil, which maintain that such a move would place an unfair burden on emerging economies that are trade dependent, Reuters<\/a> reported. Advocates for the policy, which include the EU, Canada, Japan, and climate-exposed SIDS, maintain that it could garner upwards of USD 80 bn a year, which can be redirected towards the development of low emissions shipping fuels and to fund the energy transition of poorer states, the newswire said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Consensus on a regulatory framework is due within 12 months<\/p>\n","protected":false},"author":1,"featured_media":77507,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[285],"tags":[184,284,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-policy","tag-decarbonization","tag-policy","tag-shipping-maritime","wpautop","entry"],"acf":{"mongo_id":"86950b6e-6b6f-4877-9e68-53a306f0666d","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1570.jpg","photo_position":"above","homepage_title":"","full_issue_title":"IMO looks to transform its Revised GHG strategy into regulation","related_issue":[77494],"teaser":"Consensus on a regulatory framework is due within 12 months","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.be2f3339-333a-4410-912a-c1808f8333f4.mp3"},"yoast_head":"\nIMO looks to transform its Revised GHG strategy into regulation - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMO looks to transform its Revised GHG strategy into regulation\" \/>\n<meta property=\"og:description\" content=\"Consensus on a regulatory framework is due within 12 months\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/\" \/>\n<meta property=\"og:site_name\" content=\"Logistics\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-20T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IMO looks to transform its Revised GHG strategy into regulation\",\"datePublished\":\"2024-03-20T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/\"},\"wordCount\":439,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1\",\"keywords\":[\"decarbonization\",\"POLICY\",\"SHIPPING + MARITIME\"],\"articleSection\":[\"POLICY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/\",\"url\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/\",\"name\":\"IMO looks to transform its Revised GHG strategy into regulation - Logistics\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-03-20T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/logistics\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IMO looks to transform its Revised GHG strategy into regulation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#website\",\"url\":\"https:\/\/enterpriseam.com\/logistics\/\",\"name\":\"Logistics\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/logistics\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#organization\",\"name\":\"Logistics\",\"url\":\"https:\/\/enterpriseam.com\/logistics\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/29618.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/29618.svg\",\"caption\":\"Logistics\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/logistics\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"IMO looks to transform its Revised GHG strategy into regulation - Logistics","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/","og_locale":"en_US","og_type":"article","og_title":"IMO looks to transform its Revised GHG strategy into regulation","og_description":"Consensus on a regulatory framework is due within 12 months","og_url":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/","og_site_name":"Logistics","article_published_time":"2024-03-20T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"IMO looks to transform its Revised GHG strategy into regulation","datePublished":"2024-03-20T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/"},"wordCount":439,"publisher":{"@id":"https:\/\/enterpriseam.com\/logistics\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1","keywords":["decarbonization","POLICY","SHIPPING + MARITIME"],"articleSection":["POLICY"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/","url":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/","name":"IMO looks to transform its Revised GHG strategy into regulation - Logistics","isPartOf":{"@id":"https:\/\/enterpriseam.com\/logistics\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1","datePublished":"2024-03-20T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/imo-looks-to-transform-its-revised-ghg-strategy-into-regulation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/logistics\/"},{"@type":"ListItem","position":2,"name":"IMO looks to transform its Revised GHG strategy into regulation"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/logistics\/#website","url":"https:\/\/enterpriseam.com\/logistics\/","name":"Logistics","description":"","publisher":{"@id":"https:\/\/enterpriseam.com\/logistics\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/logistics\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/logistics\/#organization","name":"Logistics","url":"https:\/\/enterpriseam.com\/logistics\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/logistics\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/29618.svg","contentUrl":"https:\/\/ent.news\/internal\/29618.svg","caption":"Logistics"},"image":{"@id":"https:\/\/enterpriseam.com\/logistics\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/logistics\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/logistics\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1570.jpg?fit=%2C&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/posts\/77506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/comments?post=77506"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/posts\/77506\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/issue\/77494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/media\/77507"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/media?parent=77506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/categories?post=77506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/tags?post=77506"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/brand?post=77506"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/logistics\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=77506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}