Greenhouse gas (GHG) reduction is a top priority for the global shipping industry as it strives to align with international climate goals and regulatory requirements. The IMO’s Initial GHG Strategy sets ambitious targets, including a 40% reduction in carbon intensity by 2030 and a 50% absolute reduction in GHG emissions by 2050 compared to 2008 levels. Key measures to achieve these targets include the Energy Efficiency Existing Ship Index (EEXI), the Carbon Intensity Indicator (CII), ongoing work on the Life Cycle GHG Intensity Assessment (LCA) Framework, and the development of mid- and long-term solutions such as alternative fuels, carbon capture, and market-based mechanisms.
IMO Developments
INTERCARGO is actively engaged in IMO discussions on global measures to reduce GHG emissions from shipping. The association contributes to the development of the IMO’s Mid-Term Measures and Net-Zero Framework, including work on the Life Cycle GHG Intensity Assessment (LCA) Framework. INTERCARGO also closely follows the Fifth IMO GHG Study (2018–2023), the measurement and verification of non-CO₂ GHG emissions, and the assessment of emerging technologies such as ship-based carbon capture, with a particular focus on their operational impact for bulk carriers.
EU and Other Regional Developments
INTERCARGO monitors regional and national GHG-related measures affecting dry bulk shipping, including the EU Emissions Trading System (EU ETS), FuelEU Maritime, and the UK Emissions Trading System (UK ETS). The association also tracks emerging regional initiatives, such as sovereign carbon pricing schemes and related mechanisms in regions including Africa, to ensure members are informed and prepared for evolving regulatory requirements.
