India Invites The IMO To Set A Realistic Target Of 5% Zero-Carbon Marine Fuel By 2030.

5th July 2023

Realistic Target Of 5% Zero-Carbon Marine Fuel

India has pleaded with the International Maritime Organization (IMO) to establish reasonable targets for reaching a 5% composition of zero-carbon fuels in the naval fuel mix by 2030. The nation stresses the need to steer clear of bad decisions, risky ventures, and hasty technology fixes. India has provided a thorough proposal for a policy of progressive reduction, providing a smooth transition to a maritime industry that is sustainable. The nation is also in favor of enacting a tax on greenhouse gas emissions to promote the use of renewable energy sources and provide funds for research and development in the maritime industry, alternative fuel production, and fuel supply networks.

India underlines the need for future fuels that are inexpensive, efficient engines, and a qualified workforce in order to meet the lofty goals of the Paris Agreement. Concerns regarding greenhouse gas pricing and trade, which can create uncertainty and influence investment choices in zero-carbon technology, are raised as well as requests for equitable revenue creation. India acknowledges the assistance of co-sponsors including China, Norway, Japan, and ICS but stresses the need for additional elaboration and consolidation before to official adoption. In order to reduce emissions from the marine industry, help international efforts to combat climate change, and promote a sustainable maritime business, India is still committed to supporting IMO activities.