IAPH welcomes the agreement reached last Friday at the IMO on the package of new greenhouse gas (GHG) emissions reduction regulations known as the ‘IMO net-zero framework'. The agreement on the economic measure, which has been put forward by MEPC83 for formal adoption later this year for implementation by 2028, is a compromise which serves as a global framework that will ultimately encourage the adoption of low and zero carbon fuels for an industry which currently delivers approximately 90% of global trade while emitting approximately 3% of global emissions. In addition to allocating revenues to researching, developing and making globally available and deploying zero and near-zero GHG emission technologies, fuels and/or energy sources, the agreement stipulates for the IMO Net-Zero Fund created by the economic measure to disburse collected revenues to develop the necessary maritime, coastal and port-related infrastructure and equipment.

This concurs with the original submission made by IAPH containing this proposal, as well as a study IAPH submitted to MEPC 82 last year on infrastructure investment requirements, citing specific needs in developing countries. IAPH will be contributing in the work ahead in further detailing the IMO net-zero framework after its formal adoption in October, in the form of guidelines to be developed by the organisation. The association will also press ahead with actions of the ports resolution previously adopted by the IMO to voluntarily reducing GHG emissions, as well as working with governments and the private sector on the CEM-HUBS initiative to de-risk opportunities to produce, transport and use low-carbon fuels at scale at or near ports.
Source: IAPH