Scenario 1: Maritime compliance costs are no longer confined to regional regulation. Based on current policy timelines and market assumptions, the industry’s annual compliance bill could rise from around USD 2.7 billion in 2024 to more than USD 57 billion by 2032, with the IMO framework becoming the largest driver of future cost exposure.
The full storyAs the International Maritime Organization (IMO) assembles today to adopt emission reduction measures, it’s with a backdrop of pressure to increase climate ambitions. Nations and industry players call for a net-zero maritime industry by 2050.
A large majority of the respondents in an EU public consultation wants to include emissions not only from voyages between EU-ports but also from voyages between EU and non-EU ports in the Emissions Trading System (ETS).
January 2021 is the first month of the Sea Cargo Charter (SCC) reporting on emissions from ship chartering activities. A rush of questions from both signatories and companies that are considering joining, show that details need to be discussed further.
