UCL Highlights Broad Backing for Centralized Carbon Pricing at IMO Working Group
Analysis by the UCL Shipping and Oceans Research Group finds strong delegate support for maritime emission pricing, though regulatory divisions linger.
The UCL Shipping and Oceans Research Group has published its evaluation of the International Maritime Organization's 22nd Intersessional Working Group on Greenhouse Gas Emissions, which recently concluded its sessions in London.
According to the academic body's findings, roughly two-thirds of member states that actively participated in the floor discussions voiced support for establishing a centralized mechanism to collect revenues generated through maritime emissions pricing.
Under this proposed framework, an operational greenhouse gas levy using a remedial unit price would collect funds to support decarbonization efforts. The accumulated revenue would then be directed toward rewarding early adopters of clean technologies and underwriting an equitable transition across the industry.
Despite this momentum, UCL noted that negotiations remain tempered by division, as a distinct group of member states continues to push for a technical-only regulatory approach. While the research group recognized ongoing development regarding the IMO's Net Zero Framework, it emphasized that significant uncertainty continues to surround the final architecture of the measures.
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