IMO implementing new ESG framework
Data
Jul 8, 2023
Jacob Gundersen
International Maritime Organisation (IMO) develops new framework for efficency and pollution.
The International Maritime Organization (IMO) has established a goal to achieve a 70% reduction in annual greenhouse gas emissions from shipping by 2050, with a minimum reduction of 40% by 2030.
The International Convention for the Prevention of Pollution from Ships (MARPOL) Annex VI changes have been endorsed by the IMO through the Marine Environment Protection Committee (MEPC) as a fundamental strategy for achieving this. The Energy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII) are two important new technical regulations that these modifications will implement. On January 1, 2023, the regulations are scheduled to take effect.
The CII is an operational measure of how efficiently a ship transports goods or passengers, in essence, in grams of CO2 emitted by cargo-carrying capacity and nautical mile. The EEXI is, simply put, a framework for determining the efficiency of the design of in-service vessels over 400 GT falling under MARPOL Annex VI.
Both EEXI and CII are intricate and developing, with a lot of the specifics still being a mystery. However, they must be carefully analyzed and comprehended right away so that the ones who will be affected can begin planning for January 2023.
Sources: DNV