Shipping net-zero framework falls short of Paris Agreement, says study
The stalled Net-Zero Framework (NZF) may only save a tenth of shipping’s carbon footprint by 2030, report finds.
A carbon market watch study suggests the International Maritime Organisation's NZF is ‘woefully inadequate to bring down the carbon footprint of the shipping sector’.
The research, led by industrial economics Professor Michele Cincera, projects the NZF, had it been adopted, would have led to emissions cuts of only 8-10%, compared with the 43% that would be necessary to bring the maritime sector in line with the Paris Agreement goal.
A recent extraordinary session of the International Maritime Organisation ended with a 12-month postponement of the vote.
Carbon market watch’s briefing recommends that member states strengthen the NZF in the meantime to make up for lost time.
It also recommends national governments and regional blocs launch or shore up their own measures to cut shipping pollution, such as by introducing a shipping component to their cap-and-trade carbon markets or expanding its coverage.
For example, the EU can enlarge its Emissions Trading System to cover 100% of emissions from ships entering and leaving the European Economic Area, instead of the current 50%.
The full report can be read online.
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