Global Maritime Sector's Deal to Cut Emissions Evokes Mixed Reactions

The International Maritime Organisation, which regulates the shipping sector has reached a historic agreement to enhance its objective to reduce carbon emissions.

Nations have pledged to reduce total yearly emissions of greenhouse gases by at least 20% by 2030 and by at least 70% by 2040 compared to levels in 2008, according to the United Nations' global shipping authority.

The industry is also expected to achieve net-zero emissions "close to" 2050, according to the updated strategy.

The organisation stated that the IMO "remains committed to reducing greenhouse gas emissions from international shipping and, as a matter of urgency, aims to phase them out as soon as possible."

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IMO Secretary-General Kitack Lim said Friday the deal “is in many ways a starting point for the work that needs to intensify even more over the years and decades ahead of us.”

“With the revised strategy that you have now agreed on, we have a clear direction, a common vision, and ambitious targets to guide us to deliver what the world expects from us,” Lim said to member states.

Environmentalists, however, claimed that the accord fell far short of what was required to combat climate change. They wanted the shipping sector to implement a 50% reduction by 2030 and deliver carbon neutrality by 2040.

On the other hand, Simon Bennett, the deputy secretary general of International Chamber of Shipping, which represents 80% of the world’s commercial fleet, said: "The ICS greatly welcomes the ambitious agreement."

Mr Bennett added: "This can only be achieved if IMO rapidly agrees to a global levy on ships’ GHG emissions to support a ‘fund and reward’ mechanism, as proposed by the industry."

The deal came at the end of a five-day meeting at the IMO's headquarters in London, attended by representatives from 100 countries involved in the shipping industry.

The vast majority of the world's 100,000 cargo ships, which carry 90% of the world's goods, are powered by highly polluting diesel. Shipping is responsible for around 3% of global greenhouse gas emissions, according to the United Nations.

Read More: Ships, Ports Need to Have A Clear Plan to Meet Net Zero by 2050: UNFCCC