Net Zero Framework for Global Shipping ( UPSC Prelims)

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News Context

The International Maritime Organization (IMO) has sanctioned the Net-Zero Framework for Global Shipping.

Key Features of the Framework

The content discusses the inclusion of a new framework in Annex VI (Prevention of air pollution from ships) to the International Convention for the Prevention of Pollution from Ships (MARPOL). MARPOL is an international agreement focused on preventing pollution from ships due to operational or accidental causes. The primary aim is to achieve net-zero emissions by around 2050. Currently, shipping is responsible for nearly 3% of global greenhouse gas (GHG) emissions. This framework is the first globally to integrate mandatory emissions limits and GHG pricing across an entire industry sector. Once implemented, it will be compulsory for large ocean-going ships over 5,000 gross tonnage, which contribute to 85% of the total CO2 emissions from international shipping. Ships will need to adhere to the following:
  ● Global Fuel Standard: Ships must progressively reduce their annual greenhouse gas fuel intensity (GFI), which measures the GHG emitted per unit of energy used.  
  ● Global Economic Measure: Ships that exceed GFI thresholds must purchase remedial units, while users of zero or near-zero GHG technology will receive financial incentives.  
 Additionally, an IMO Net-Zero Fund will be established to collect contributions from emissions pricing.

International Maritime organization (IMO)

About: The UN's specialized agency is tasked with ensuring the safety and security of shipping and preventing marine and atmospheric pollution caused by ships.
 Genesis: The IMO Convention was adopted during an international conference in Geneva in 1948 and became effective in 1958.
 Members: The organization has 176 members, including India.
 Maritime Safety Committee (MSC): This is the highest technical body, comprising all Member States.
 Key IMO Conventions:
  ● International Convention for the Safety of Life at Sea (SOLAS), 1974  
  ● International Convention for the Prevention of Pollution from Ships (MARPOL)  
  ● The Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009.