Shipowners Expect GHG Regulations from Durban Summit

At this point in time, the Durban summit is definitely one of the hottest green topics. It manages to capture the attention of shipowners who collaborate with WWF and Oxfam to indicate the best methods of curbing greenhouse gas emissions coming from international shipping.

The partners hope to convince the COP 17 participants to allow the International Maritime Organization (IMO) to continue monitoring and decreasing shipping emission throughout the efficient Market Based Measures (MBMs).

They think about a complex compensation mechanism meant to redirect revenues raised from international shipping to the budget of developing countries. While doing so, these nations will benefit from a significant financial support to continue tackling climate change.

All in all, experts say IMO's activity will decrease the probability of ‘carbon leakage’ while keeping global warming below the 2°C.

“Putting a charge on carbon in the global shipping sector can have huge benefits in meeting our climate change objectives,” declares Samantha Smith, Leader of WWF’s Global Climate and Energy Initiative.