IAPH submission highlights port funding in MBM debate
Next week’s IMO Intersessional Working Group on GHG Emissions (ISWG-GHG 10) will be focusing on the role that market-based measures (MBM) can play in the implementation of the IMO initial greenhouse gas strategy. The topic is also on the agenda of the 77th IMO Marine Environment Protection Committee meeting, which takes place at the end of November. An MBM is meant to close the price gap between traditional marine fuels and low- or zero-carbon fuels. Proposals are on the table to introduce such measures in the form of a carbon levy or a cap-and-trade system. IAPH is contributing to the debate with a submission which advocates that the allocation of a significant share of the revenue generated by an MBM to port-related investments would facilitate the global deployment and use of low- and zero-carbon fuels needed for the decarbonisation of shipping. Paying specific attention to financial support for ports in developing countries could strengthen the support of those countries for MBMs and help a fair and equitable energy transition. Members of the IAPH Climate and Energy Committee will be briefed on the outcome of the debate at ISWG-GHG 10 and preparations for MEPC 77.