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Carbon Market Watch (CMW) assessed several market-based proposals for international shipping decarbonization, scoring them based on alignment with the 1.5°C Paris Agreement goal, emission reductions, and equity. The analysis highlights that while the IMO's 2023 strategy aims for net-zero emissions by 2050, current measures are insufficient. CMW identifies the proposal by Canada as the strongest (Score A+), citing its high carbon levy of 150 $/tCO2e, while criticizing the Bahamas et al. proposal (Score C) for its reliance on a flexibility compliance mechanism that disincentivizes decarbonization.

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  • The International Maritime Organization's (IMO) 2023 greenhouse gas (GHG) strategy aims for net-zero emissions by or around 2050, with interim targets of reducing emissions by 20-30% by 2030 and 70-80% by 2040 compared to 2008 levels, and a 5-10% adoption of carbon-neutral fuels by 2030. However, these measures are deemed insufficient to align the sector with the Paris Agreement's 1.5°C limit.
  • The proposal by Canada received the highest rating (Score A+) due to its commitment to a substantial carbon levy of 150 $/tCO2e before 2030, a strong emphasis on immediate emission reductions, and support for vulnerable nations.
  • The proposal by Bahamas et al. (Score C) is considered non-viable as a market-based measure because it combines a GHG fuel standard (GFS) with a flexibility compliance mechanism (FCM). This system only covers emissions for ships exceeding fuel intensity limits, which disincentivizes decarbonization and generates insufficient revenue for an equitable transition.
  • Other evaluated proposals include Belize et al. (Score B) and Austria et al. (Score B), with the latter proposing a levy of 130 $/tCO2e. The proposal by Angola et al. was noted for its support of Least Developed Countries (LDCs) and Small Island Developing States (SIDS), but criticized for a low suggested levy of 18.75 $/tCO2e and a lack of detail on long-term goals.

Cite the original document

APA
Carbon Market Watch (2024). Previsiones del transporte marítimo Septiembre 2024. https://carbonmarketwatch.org/wp-content/uploads/2024/12/RESUME1.pdf
Chicago
Carbon Market Watch. Previsiones del transporte marítimo Septiembre 2024. 2024. https://carbonmarketwatch.org/wp-content/uploads/2024/12/RESUME1.pdf.
Wikipedia
{{cite report |author=Carbon Market Watch |title=Previsiones del transporte marítimo Septiembre 2024 |date=September 2024 |url=https://carbonmarketwatch.org/wp-content/uploads/2024/12/RESUME1.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}
BibTeX
@techreport{carbonmarketwatch2024previsiones, author = {{Carbon Market Watch}}, title = {{Previsiones del transporte marítimo Septiembre 2024}}, institution = {Carbon Market Watch}, year = {2024}, month = sep, url = {https://carbonmarketwatch.org/wp-content/uploads/2024/12/RESUME1.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }

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