Supporting the IMO’s GHG pricing mechanism requires a change of mindset, says EmissionLink
The move to implement a global greenhouse (GHG) pricing mechanism at MEPC 83 is welcomed by EmissionLink. The IMO’s approval of the GHG pricing mechanism marks a pivotal shift in the shipping industry’s journey toward decarbonisation. For the first time, a binding global economic measure will put a price on emissions from international shipping, creating a clear economic incentive to transition toward cleaner fuels and operations. The cost implications will start at $100/tonne CO₂, rising to $380 for higher-emission operations.
Furthermore, the shipping sector will be brought under the UK Emissions Trading Scheme (UK ETS) from next year under new green maritime plans as part of the UK’s new goals for shipping operators to reach net zero by 2050.
EmissionLink, part of Columbia Group, is a next-generation digital compliance platform, purpose-built to help shipowners, charterers, and managers navigate the new era of carbon-accountable shipping with confidence. The one-stop shop is designed to simplify regulatory demands and maximise operational flexibility,
Philippos Ioulianou, Columbia Group Director of Energy and Renewables has welcomed the development, however he warns there must be a change of mindset for the initiative to be a success.
He said: “A global GHG pricing mechanism, paired with a fuel standard for the first time, brings the accountability and structure the industry needs to accelerate the transformation to a more sustainable future. However, to achieve this, it must be about more than just compliance, it needs to change current mindsets.”
“In addition, there is also some debate over how shipowners will comply with emissions regulations on a local as well as a global level. With the UK introducing its own emissions trading scheme, will other countries also launch their own schemes and if so, how will this be monitored to ensure consistency and avoid confusion?”
Whilst the regulatory landscape is evolving fast, with the EU ETS, FuelEU Maritime, and now the IMO’s global framework and UK ETS being introduced, some shipowners have pulled back from the European market, citing complexity and risk.
This is where a change of mindset comes into play as avoidance is no longer a viable strategy, so empowering shipowners with the right tools to make sense of this complexity is more of a requirement than ever before.
Mr Ioulianou, added :
“The message from regulators is clear: the future is carbon accountable. Now what shipowners and the industry needs to realise is that with the right tools and data infrastructure, they don’t need to shy away from that future, they can lead it.”