The ambition is to Halve Maritime Emissions & Pay for Improvements needed in one cohesive supra-national scheme while addressing differentiated priorities from the developed and developing countries.

Halving Maritime Emissions & Paying for Improvements

    The goals are:
  1. Mitigate the maritime GHG emission growth through the most cost effect measures and halve the emissions over long-term;
  2. Reduce the gap in financing for adaptation to climate change in developing countries (in $bn annually);
  3. Provide a global approach leading to agreement within the next 2 years.

The emission reductions will be achieved through near-term technical and operational industry improvements and by accelerating long-term step changes.
The scheme minimizes the administration burden and costs for ship owners, since it is a centralized system. It also avoids two major obstacles: unreliable emission baselines and allocation of emissions from international bunker fuel to countries.