At a meeting of the International Maritime Organization (IMO) Working Group on Reduction of GHG Emissions from Ships (ISWG-GHG 10) on 18-22 October, various proposals for mid-term measures to reduce GHG emissions from maritime transport were submitted and considered, including a number of submissions related to potential market-based measures: a carbon offsetting scheme for international maritime transport that has been on the table for a number of years.
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IMO considers various measures to reduce GHG emissions from the maritime sector
The consideration of mid-term measures was progressed in line with the Work plan on the development of mid-and long measures approved by MEPC 76 (June 2021). Various proposals for measures were tabled, in order to be able to understand and compare their main features and implications. The proposals presented covered: the legal framework of mid-term measures; principles of possible market-based measures; a GHG levy, a GHG fuel standard, a GHG cap-and-trade system, and possible combinations of these; principles of carbon pricing, management and disbursement of carbon revenues.