IMO ready for net-zero framework talks at COP29

November 8, 2024, by Naida Hakirevic Prevljak

The International Maritime Organization’s (IMO) Secretary-General Arsenio Dominguez will lead the specialized agency’s delegation to the annual UN Climate Change Conference (COP 29) to be held in Baku, Azerbaijan, from November 11 to 22, 2024.

The 29th Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC) will bring together world leaders along with an estimated 40,000 delegates representing governments, civil society, and the private sector for discussions on how to address climate change.

In line with the Paris Agreement, the global maritime sector has committed to ambitious goals of achieving net-zero greenhouse gas (GHG) emissions from shipping by or around 2050, as outlined in the 2023 IMO Strategy to Reduce GHG Emissions from Ships.

At COP 29, Secretary-General Dominguez will share the latest developments in delivering the strategy, including those related to ongoing negotiations towards a new set of binding economic and technical ‘mid-term GHG reduction measures’ to decarbonize the maritime sector.

COP is said to provide an opportunity to stress the importance of cooperation with the energy and financial sectors as well as with cargo owners, given shipping’s vital role in the world’s energy transition and as the engine of global trade.

Ahead of COP 29, IMO has made a submission to the 61st session of the UNFCCC’s Subsidiary Body for Scientific and Technological Advice (SBSTA 61) outlining the progress made and actions taken to date to support maritime climate action.

Among other issues, the paper covers the outcomes achieved at the 82nd session of IMO’s Marine Environment Protection Committee (MEPC 82) held in September/October 2024.

At that meeting, the committee advanced discussions on the proposed mid-term measures for GHG reduction, which include a global pricing mechanism for GHG emissions from ships and a global marine fuel standard.

Member States identified areas of convergence and discussions resulted in a draft legal text – the “IMO Net-Zero Framework” – to be used as the basis for the next phase of talks.

The aim is to adopt these mid-term measures in late 2025, with a view to entry into force in 2027.

COP28 and sustainable maritime industry

In November 2023, COP28 was held in Dubai, the United Arab Emirates (UAE).

Several announcements were made under the green shipping challenge, including new green shipping corridors, and regulatory and finance commitments.

What is more, the Zero Emission Port Alliance (ZEPA), an industry-wide strategic coalition aiming to accelerate the journey to zero emissions for container handling equipment (CHE) at ports, was formed at COP28.

Additionally, more than 30 leaders signed a joint commitment to enable renewable hydrogen-derived shipping fuel to meet maritime industry decarbonization targets this decade. This was all set within the context of an array of events on transport, bringing together policy makers, industry leaders, and civil society to discuss opportunities and solutions for the sector.

A key theme emerging through these discussions is nexus – how the transport decarbonization challenges and opportunities interact with other sectors and policy goals.