<p><strong>How viable are market-based measures (MBMs) as a method to reduce carbon emissions generated by maritime shipping, and what role should they play in the industry’s transition to net zero?</strong></p><p>At the 26<sup>th</sup> Conference of the Parties to the United Nations Framework Convention on Climate Change (<a href="https://ukcop26.org/" data-sf-ec-immutable="">COP26</a>) taking place this November, participating countries will be asked to set targets for reducing greenhouse gas (GHG) emissions that align with a shared ambition of reaching net zero emissions by 2050. With the shipping industry currently accounting for just under 3% of global GHG emissions, a viable plan for decarbonising maritime is necessary if this goal is to be achieved in time to prevent the worst impacts of climate change. </p><p>In recognition of their role in reducing global emissions, shipping industry bodies have recently <a href="https://www.worldshipping.org/pressroom/article?news_article_id=131" target="_blank" data-sf-ec-immutable="">called on the Member States of the International Maritime Organi</a></p>
Source: LexisNexis Purpose Built
Road to COP26—Reducing carbon emissions from maritime shipping
