Marine Environment Protection Committee: Recently, the 83rd session of the Marine Environment Protection Committee (MEPC-83) of the International Maritime Organization (IMO) focused on decarbonizing the global shipping industry.
o The session explored a Market-Based Measure (MBM) to impose emissions charges on the shipping sector, balancing environmental goals with economic fairness.
o The IMO’s GHG Strategy (2023) targets a 40% reduction in carbon intensity by 2030, 70% by 2040, and net-zero by 2050.
o Shipping is one of the few industries with binding international climate goals, unlike aviation, which lacks interim targets.
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