As the world gathers at COP29 in Baku, Azerbaijan, from November 11 to 22, 2024, the International Maritime Organization (IMO) stands ready to lead global discussions on decarbonizing the maritime industry. IMO Secretary-General Arsenio Dominguez, heading the organization’s delegation, will join an estimated 40,000 delegates from governments, civil society, and the private sector in advancing climate solutions that align with the Paris Agreement. COP29 is a critical opportunity for the IMO to demonstrate its commitment to achieving net-zero GHG emissions from shipping by or around 2050, as outlined in the 2023 IMO Strategy to Reduce GHG Emissions from Ships.
A Pivotal Step: The IMO’s Role in Shaping Maritime Decarbonization
At the heart of IMO’s engagement at COP29 are ongoing negotiations around a set of binding economic and technical measures aimed at drastically reducing GHG emissions from ships. These ‘mid-term GHG reduction measures’ are designed to help the maritime sector reach net-zero by 2050 and ensure a sustainable future for global shipping. The measures include proposals for a global pricing mechanism on GHG emissions from ships and the establishment of a marine fuel standard, which would set guidelines for lower-emission fuels in the maritime industry.
During the September/October 2024 session of the IMO’s Marine Environment Protection Committee (MEPC 82), member states made significant progress in developing these mid-term measures. The session led to a draft legal text, known as the “IMO Net-Zero Framework,” which will be the foundation for final negotiations in the coming year. The aim is to formally adopt these measures by late 2025, with implementation slated for 2027.
Highlighting Cross-Sector Collaboration and Progress
COP29 serves as an ideal platform for emphasizing cross-sector collaboration, especially with the energy and financial sectors, as well as cargo owners who play an integral role in decarbonizing supply chains. The IMO’s commitment to climate action extends beyond regulatory frameworks; it involves fostering partnerships across sectors to drive sustainable change in maritime shipping and logistics. The IMO has submitted a progress report to the UNFCCC’s Subsidiary Body for Scientific and Technological Advice (SBSTA 61), which highlights outcomes from MEPC 82 and the work being done to create effective climate solutions for the maritime industry.
In line with this collaborative approach, the IMO will co-host a side event with the United Nations Economic Commission for Europe (UNECE) and the International Civil Aviation Organization (ICAO) on November 20. The event, themed “Decarbonizing Transport: Policies & Strategies for Aviation, Maritime, and Land,” aims to promote dialogue and share strategies on decarbonizing global transportation sectors, each facing unique challenges in reducing emissions.
The Path Forward: VURDHAAN’s Support in Maritime Sustainability
In the maritime sector, transitioning to sustainable practices requires expertise, commitment, and strategic guidance. VURDHAAN is actively involved in supporting maritime stakeholders to navigate complex sustainability requirements, such as the IMO’s GHG reduction measures, MARPOL compliance, and global fuel standards. By assisting companies with strategy development, voluntary certifications, and industry compliance, VURDHAAN enables the maritime sector to embrace new regulations effectively and responsibly. Our work is dedicated to helping organizations thrive as sustainability leaders and meet the ambitious goals set forth by international frameworks like the IMO’s net-zero strategy.
COP29: Charting a Greener Future for Global Shipping
As COP29 unfolds, the IMO’s active engagement signals a crucial step forward in addressing the environmental impact of global shipping. The discussions and decisions made here will shape the maritime industry’s climate action plan for years to come, setting a precedent for sustainability and collaboration in one of the most critical sectors of the global economy.
Through initiatives like the IMO Net-Zero Framework and cross-sector collaboration, the maritime industry is moving steadily toward a future defined by low emissions, resilience, and sustainability. With industry leaders like the IMO championing climate action, and with effective support from consultancies such as VURDHAAN, the journey toward a cleaner maritime industry becomes more achievable. COP29 represents a unique opportunity to reaffirm global commitments, introduce impactful measures, and propel the maritime sector toward a sustainable, low-carbon future.