Five major shipping bodies back emissions trading

Shipping associations in Belgium, Sweden, Norway, the UK and Australia have come out in support of reducing the sector's greenhouse gas emissions through a cap-and-trade scheme. On Wednesday they issued a discussion paper detailing options for implementing such a scheme.

The paper highlights two possible frameworks: a sectoral approach and a 'distributed' auction approach. Among other things, it details how carbon credits would be allocated, and how emission reductions would be monitored and verified.

The five shipping bodies call for a global and open emissions trading scheme. This is the best way of achieving a real and lasting reduction in CO2 emissions from shipping  over and beyond efficiencies in ship design and operation, the associations say.

The associations urge governments meeting at December's UN climate summit in Copenhagen to agree a cap-and-trade scheme for shipping, but say the details should be agreed later under the auspices of the International Maritime Organisation (IMO). Implementing the scheme would cost the industry E6bn, they estimate.

It is vital that any emissions trading regime is implemented without driving goods to other modes of transport, which would increase overall emissions and damage commercial shipping, said UK Chamber of Shipping president Jesper Kjaedegaard.

On Thursday, IMO secretary-general Efthimios Mitropoulos said his organisation was now energetically pursuing ways to cut shipping emissions. In July the IMO's environment policy decision-making body, the MEPC, adopted a work plan for discussions on market-based instruments, but it could take years before it adopts concrete measures.

Follow-up: Wednesday's discussion paper

http://www.british-shipping.org/uploaded_images/99_20071114152532.jpg.

ENDS Europe Daily is Europe's leading environmental news service. A free trial is available by clicking on the following link: http://www.endseuropedaily.com/web/helcom.