Sharm El Sheikh, 11 November 2022 (TDI): At the COP27, International Maritime Organization (IMO) co-hosted a side event, on November 10.
The event focused on creating new maritime fuels and the potential for developing nations to produce renewable energy. IMO Secretary-General Kitack Lim was present at the side event.
In addition, International Renewable Energy Agency (IRENA), the World Bank (WB), UN Conference on Trade and Development (UNCTAD), and IMO all shared hosting duties.
Therefore, it cannot be ignored that the international shipping community’s contribution to COP 27 through this event is significant.
IMO Secretary-General Kitack Lim in his speech at COP27 stated that “decarbonizing international shipping is a critical issue for IMO. Participants are committed to acting together to achieve the highest level of ambition”.
International shipping, according to IMO, is essential to the global economy. It plays a crucial role in advancing UN Sustainable Development Goals (SDGs) and sustainable global energy supply.
Moreover, international shipping must quickly switch from its current reliance on fossil fuels to zero-carbon alternatives to decarbonize it. But because it promotes international trade and sustainable development, shipping also plays a significant role.
“I am encouraged to see numerous recent announcements on upscaling renewable marine fuel production infrastructure around the world,” Lim emphasised.
A lot of developing nations have easy access to renewable energy sources. Thus, Kitack Lim continued, “I see a lot of potential for these countries to play a vital role in the production and supply side of renewable fuels for the global shipping industry.”
To take full advantage of these opportunities, “we need to collectively strengthen our efforts in this area” he added.
Efforts by IMO to reduce carbon emissions and build capacity
As the body responsible for overseeing international shipping, IMO is advancing quickly. It aims to put global shipping on an ambitious road to phase out its Greenhouse Gas emissions.
In this regard, the IMO is encouraging the availability of maritime fuels and technologies with low and no carbon emissions. Additionally, IMO must guarantee that all nations participate in this transition.
Furthermore, the IMO is designing international greenhouse gas reduction strategies. Therefore, IMO actively collaborates with partners from the UN system and the corporate sector.
This addresses capacity, technological, and infrastructure issues while assisting developing states with transitioning to the energy transition.
Wide-ranging projects that IMO has started, together with a framework for knowledge partnerships, bring together its maritime expertise and unmatched worldwide network.
With this, IMO’s partners contribute their experience, investment and financial know-how, other materials, and in-kind support. Through these cooperative efforts, IMO works with organizations like UNCTAD, the WB, and IRENA.
They support member states in building the infrastructure & capacity required for the production of renewable fuels & making them accessible to the world’s shipping industry.
During this conference, eminent speakers from Brazil, Egypt, Namibia, Singapore, and the UAE discussed their experiences in establishing the policies and infrastructure required to make the energy transition a reality.
Lastly, it was underscored that through cooperation and partnerships solutions can be found. With this, IMO will continue to support the decarbonization process and promote a transition to zero-carbon shipping that leaves no one behind.