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Shipping-II: IMO seems to have shifting goal posts
Apr 30: Will the January 2020 deadline for a switch to max 0.5% sulphur content in marine fuels (from max 3.5% today) still stay?
8A switchover will lead to a dramatic overhaul of the world
8Even as the deadline looms, the uncertainty seems to be going up.
8Last week, the IMO, a UN organization, met to discuss reductions in greenhouse gas emissions at sea and the implementation of the IMO 2020 sulphur cap and the Ballast Water Management Convention.
8At the start of the week, the nominal target range for reducing annual CO2 emissions was set at 50-100% of 2008 peak year levels by 2050.
8The US, Brazil and Saudi Arabia prefer no fixed target while a 100% target is preferred by the EU and Pacific Island states.
8By the end of the IMO meeting, the target was brought down to ‘at least’ 50%, short of the 70% reduction that is widely deemed necessary to bring shipping into compliance with
Paris Agreement climate change objectives.
8Clearly, the goal post keeps changing, as it did for for single-hull tanker phase-out and more recently on the timetable for the installation of ballast water treatment systems.
8At this rate, it is likely that the 0.5% sulphur limit deadline can also get extended
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