Influence of the European Union (EU) on International Maritime Organization (IMO) about the Market-based Measures on Emissions

Authors : Levent KIRVAL, Ufuk Yakup ÇALIŞKAN

Pages : 146-153

Doi:10.30897/ijegeo.1047467

View : 15 | Download : 7

Publication Date : 2022-09-08

Article Type : Research Paper

Abstract :Market-based Measures insert ignore into journalissuearticles values(MBM);, a catalyst for new and effective technologies, can be highly rewarding for the shipping industry on its way to reach 50% decarbonization by 2050. To regulate emissions and improve energy efficiency in maritime transportation industry, MBMs are in focal point at the decision-taking level both for International Maritime Organization insert ignore into journalissuearticles values(IMO); and European Commission insert ignore into journalissuearticles values(EC);. EC included shipping into European Union’s insert ignore into journalissuearticles values(EU); existing Emission Trading Scheme insert ignore into journalissuearticles values(ETS);. However, IMO’s scheme will be functional after 2023 and decision of an MBM is not finalized yet. The motivation of this paper is to analyze viable MBMs under the Initial IMO Greenhouse Gases insert ignore into journalissuearticles values(GHG); Strategy based on their superiority and evaluate the influence of EU’s policy implementation on global shipping industry. The issues such as economic implications, feasibility, social and environmental responsibilities, and harmony of the policy are included to the manuscript to assess the success of the MBMs. Main concerns and thoughts revolving around EU ETS; such as economic implications of a taxation, the existence of an administrative body for shipping in EU ETS, carbon leakage caused by high taxation, voyage evasion of emissions by not delivering goods to distant areas, emergence of a fraud-proof and more secure system with an administrative body, success factors of EU ETS after 16 years, full certainty of reducing emissions rather than incentives to reduce emissions, monitoring and reporting schemes; are discussed to bridge the issue with EU’s reasonings.
Keywords : Environmental Protection, European Union, International Maritime Organization, Emission Trading Scheme, Market Based Measures, Decarbonization, Carbon Tax, Bunker Levy