170 countries agree to cut shipping emissions

NEW DELHI: Over 170 countries, comprising India, reached a historic agreement in London to reduce shipping carbon dioxide emissions by “at least” 50 per cent on 2008 levels by 2050 with an emphasis on scaling up action to 100 per cent by the mid-century.
The decision, arrived at after two weeks of intense negotiations at the International Maritime Organisation (IMO), sends a clear signal to the industry and investors that a clear switch away from fossil fuels is now on the cards.
Meeting the target means that in the 2030s, most newly built ocean-going vessels will run on zero carbon renewable fuels, say experts.
Ships, which transport over 80 per cent of global trade, will become free from fossil fuels by then.
While a few specific objections were made, even the countries with the most ships registered to them supported the deal and only two countries opposed the text outright, an expert, who was part of the negotiations, said.
“The IMO’s commitment to reduce greenhouse gas emissions by 50 to 100 per cent in 2050 is major progress,” Tristan Smith, Reader in Energy and Shipping with the UCL Energy Institute, said in a statement.
“The world’s shipping industry has now, for the first time, defined its commitment to tackle climate change, bringing it closer in-line with the Paris Agreement.”