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An International Fund for Greenhouse Gas Emissions from Ships INTERTANKO ISTEC & Executive Committees Dubai, 20 -21 January 2009 Christian BREINHOLT Director Danish Maritime Authority
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IMO - The Specialised Agency - No More Favourable Treatment UNFCCC - A new global agreement in 2009 (COP 15) - Common but Differentiated Responsibilities What is the situation?
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Nine fundamental principles Technical measures Operational measures Market based measures IMO action on GHG emissions from ships
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Nine fundamental principles Effective in contributing to the reduction of total global GHG emissions Binding & equally applicable to all flag States Cost-effective Able to limit or effectively minimize competitive distortion Based on sustainable environmental development without penalizing global trade and growth Based on a goal-based approach and not prescribe specific methods Supportive of promoting and facilitating technical innovation and R&D in the entire shipping sector Accommodating to leading technologies in the field of energy efficiency Practical, transparent, fraud free and easy to administer
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Principal debate in IMO IMO or UNFCCC principles? Before or after COP 15? Mandatory or voluntary? Technical and/or market based?
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IMO GHG WG II: 9-13 March 2009 MEPC 59: 13-17 July 2009 Assembly: 23 November - 4 December COP 15: 1- 18 December 2009 Future work in IMO
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An International GHG Fund - rationale for the proposal Long life of ships Growth in international shipping Contributions from all sectors Offsetting GHG emissions
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Bunker fuel contribution: - Mandatory registration of Bunker Fuel Suppliers - Based on the Bunker Delivery Note as evidence - Collection by registered Bunker Fuel Suppliers - Direct transfer to the International GHG Fund - Ships in international trade – all marine fuels Revenues: - Mitigation, Adaption and Technology Projects - Non-vessel Specific R&D Projects - Technological Cooperation within IMO A global, binding, separate legal entity – a new Convention An International GHG Fund – Key Elements
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The Ship Owners/Operators: Purchase fuel from registered Bunker Fuel Suppliers Keep the Bunker Delivery Note on board The Bunker Fuel Suppliers: Mandatory/voluntary registration Provide a certified Bunker Delivery Note Collect and transfer directly to the International GHG Fund Electronic report and recordkeeping of bunker fuel sold The States Parties: Port State Control Inspections of Bunker Fuel Suppliers An International GHG Fund - Obligations
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Legal Structure based on the IOPC Funds: Assembly Secretariat Tasks and responsibilities: Receive, record and monitor information Maintain and allocate revenues Keep a ship specific registry Keep a global registry of Bunker Fuel Suppliers Submit an annual report An International GHG Fund - Organisation and Administration
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CO 2 offsetting impacts through a contribution Key figures Total emissions from international shipping: approx. 1,100 Mt. CO2 (BLG 12/6/1) Consumed bunker fuel: approx. 365 million tons Actual price for a JI/CDM-credit: approx. EUR 10-15 (approx. $15 -22.5) Expected future price for JI/CDM credit: approx. EUR 20-30 (approx $30-45) Different scenarios GHG contribution at a given US dollar per ton bunker fuel: Contribution size in USD per ton bunker fuel Collected contribution in USD (million)/yr JI/CDM (MT CO2 eq.) at 15 USD. JI/CDM (MT CO2 eq.) at 30 USD JI/CDM (MT CO2 eq.) at 45 USD 7.52,7381839161 155,475365183122 3010,950730365243 4516,4251,095548365
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An International GHG Fund - Virtues Meet all nine fundamental principles: - Contribute to reductions in global GHG emissions - Equally applicable to ships – regardless of flag - Allow growth in international shipping - Support technical innovation and R&D - Easy to administer Assist solving the challenges of climate change Revenues for the benefit of developing countries Embrace Common but Differentiated Responsibilities (States) and respect No More Favourable Treatment (ships) Emission baseline established for free Eliminates any need for allocating GHG emissions Rely on well-established conceptual approaches
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An International GHG Fund Main points of concern addressed by INTERTANKO: Kyoto compatibility? GHG reductions through offsetting? Varying contributions according to bunker fuel? Enforcement mechanisms for Bunker fuel suppliers? Non-compliance by ships and/or Bunker Fuel Suppliers? Practicality of the existing Bunker Delivery Note System?
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