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Creative Commons: Phil Brandwood, 2007
Oxfam, WWF and the International Chamber of Shipping (which represents over 80% of the world merchant fleet) call on delegates to COP 17 to give the International Maritime Organization (IMO) clear guidance on continuing its work on reducing shipping emissions through the development of Market Based Measures (MBMs).
The organisations maintain that an effective regulatory framework for curbing emission of CO2 from international shipping must be global in nature and designed so as to reduce the possibility of ‘carbon leakage’, while taking full account of the best interests of developing countries and the UNFCCC principle of ‘common but differentiated responsibilities and respective capabilities’ (CBDR).
This includes the possibility of the adoption by IMO of a compensation mechanism through which a significant share of any revenues collected from international shipping could be directed to developing countries and provide a new source of finance to support their efforts to tackle climate change. Â Such revenues could be directed through an appropriate channel, such as the Green Climate Fund, which will be discussed by governments in Durban.
Read More: Oxfam >>
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