CEO of Norwegian Shipowners' Association Harald Solberg is by no means satisfied with the results in the recent round of negotiations at the IMO's climate committee, MEPC, which convened for its 76th session. He is disappointed with the IMO's lack of leadership.
During MEPC 76, the parties agreed on a CO2 intensity reduction of one percent annually in 2020-2022, followed by two percent annually in 2023-2026, amounting to 11 percent in total. No one currently knows how the reductions will shape up in 2027-2030, as this decision will come in 2026. All in all, shipping must reduce its CO2 intensity by 40 percent in 2030 compared to 2008 levels.