6PAC+ insists on no delay to Immediate Action ahead of Critical IMO emissions negotiations

10 August, 2024 – The 6PAC+ alliance of Small Island Developing States (SIDS) has submitted a series of comprehensive submissions to the next round of negotiations at the upcoming International Maritime Organization (IMO), advocating for the adoption of a universal levy on greenhouse gas (GHG) emissions from the shipping sector and a just and equitable revenue disbursement framework.

With the science now in from the IMO’s comprehensive impact assessment (CIA), the evidence is that a levy and simple GFS with a high entry price is no more costly than any other proposal and the only measures combination that can effectively deliver the levels of efficiency and equity needed.

International shipping is responsible for approximately 3% of global GHG emissions, a level comparable to that of major industrial nations. With emissions expected to rise significantly due to increasing global trade, the 6PAC+ alliance, initially led by six Pacific countries, has been pivotal in advocating for high ambition targets, including a GHG price on shipping emissions.

Marshall Islands Special Envoy For Maritime Decarbonization Albon Ishoda emphasizes the urgency of this initiative:

“Shipping emissions are a significant contributor to global climate change, disproportionately impacting our vulnerable nations. The 6PAC+ alliance is committed to ensuring that the transition towards green shipping practices takes the most effective and lowest cost pathway and delivers a just and equitable solution, particularly for those on the frontline of climate impacts.”

In 2023, the IMO adopted a revised strategy aimed at eliminating all shipping emissions by or around 2050, with intermediate goals set for 2030 and 2040. This strategy requires a complete energy transition of the shipping sector to non-GHG emitting technologies and fuels, a transition that the World Bank estimates will require well over a trillion dollar investment to achieve.

Read the full press release here.