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It is rocket science: shipping and climate change

Lloyd's Shipping & Trade Law

It is rocket science: shipping and climate change

With climate change firmly on the agenda and the sulphur cap finally in force as from 1 January 2020, it is time to look to the next stage. Shipping is the source of 3 per cent of greenhouse gases; a percentage that can only rise as other industries adopt greener technologies.

The IMO in 2018 set the target for shipping to cut carbon emissions by 50 per cent by 2050 compared to 2008 – a target that is simultaneously insufficient to save the planet, and unfeasible with the use of current fuels and propulsion methods. New technologies are needed to reach and – ideally – exceed the target reductions. This article takes a look at the existing and required regulatory framework.

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