The deadlock on addressing GHG emissions from shipping through market-based instruments has not been resolved at the IMO MEPC 58th session, London, UK, 06 - 10 October 2008.
The new creative proposal to reconcile both Global and Differentiated approaches:
Importantly, informal consultations with over 20 representations have proved that a Global but Differentiated Principle and Policy could indeed resolve the deadlock.
Essentially, the deadlock is caused by developed countries proposing only global uniform approaches when developing countries require a differentiated approach (as per the UNFCCC principle of common but differentiated responsibilities and respective capabilities, CBDR).
These two can be reconciled through an entirely new thinking. The old segmentation by flags, countries, routes and so on, is replaced with global destinations. In the current climate change regime the destinations are: Annex I and non-Annex I countries. See the GbD Principle and Policy.
The side event was entitled Impacts of market-based instruments & The search for a global but differentiated policy. Presentation is now available (0.3 Mb). Viability of creating a global but differentiated market-based instrument for international shipping was debated and confirmed.
The event has been organised by WWF UK to expand on the submission MEPC 58/4/39 (0.2Mb), and to provide an opportunity for a debate.