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World shipping industry agrees to halve carbon emissions by 2050

LONDON: Members of the UN International Maritime Organisation on Friday struck a deal to halve carbon dioxide emissions from shipping by 2050 in a deal that will force the industry to redesign fleets.

“The initial strategy envisages for the first time a reduction in total GHG (Greenhouse Gas) emissions by at least 50 percent by 2050 compared to 2008,” the IMO said in a statement.

Major shipping nations such as Saudi Arabia and the United States had objected to earlier drafts in two weeks of discussion at the 173-member organisation based in London.

Some countries such as the Marshall Islands, which are at risk of rising seas but are also a major flag state, had wanted a stronger commitment and the EU wanted a 70 to 100 percent cut.

But the agreement was widely hailed by stakeholders.

“This is a ground-breaking agreement — a Paris agreement for shipping — that sets a very high level of ambition for the future reduction of carbon dioxide emissions,” the International Chamber for Shipping´s secretary general Peter Hinchliffe said.

“We are confident this will give the shipping industry the clear signal it needs to get on with the job of developing zero carbon dioxide fuels so that the entire sector will be in a position to decarbonise completely,” he said.

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