A report prepared by the UCL Energy Institute has outlined that the perusal of emissions regulations in the shipping industry lacks urgency. The work, done for the Sustainable Shipping Initiative, cites missing reduction ‘targets’ and a lack of data collection on ships’ consumptions, emissions and efficiency as reasons for this in.
The report demonstrates that:
- Postponing action on the industry’s rising emissions makes matters worse for it in the long-run, and increases potential for major impacts on world trade
- Current industry stakeholders are not engaging with this challenge
- Emissions offsetting presents a way to increase shipping’s share of global emissions
- Pooling knowledge, committing to a clear target (2oC), and creating a level playing field for technological and operational developments can all help minimise this risk.
Image credit: NASA's Earth Observatory