Over 170 Countries, including India, signed an agreement in London earlier this week to reduce carbon dioxide emissions by at least 50 per cent (based on 2008 levels) from shipping by 2050. The deal, which was struck after intense negotiations at the International Maritime Organisation (IMO), will force the industry to redesign its fleet and switch from using fossil fuels to running vessels on renewable energy.
“The IMO’s commitment to reduce greenhouse gas emissions by 50 to 100 per cent in 2050 is major progress,” Tristan Smith, Reader in Energy and Shipping with the UCL Energy Institute, said in a statement.
“The World’s shipping industry has now, for the first time, defined its commitment to tackle climate change, bringing it closer in-line with the Paris Agreement.”
The rise of international trade is the main reason for the increase in shipping emissions. Ships transport more than 80 per cent of global trade. Barring two countries, most nations, even the ones with huge shipping industries, have supported the agreement, an expert, who was part of the negotiations, said recently.