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Reducing GHGs: The MBM and MRV Agendas

  • Harilaos N. PsaraftisEmail author
  • Poul Woodall
Chapter

Abstract

The purpose of this chapter is to introduce the concept of market-based measures (MBMs) to reduce greenhouse gas (GHG) emissions from ships and review several distinct MBM proposals that were under consideration by the International Maritime Organization (IMO). The chapter then moves on to discuss the concept of monitoring, reporting and verification (MRV) of CO2 emissions and the distinct mechanisms set up by the European Union (EU) and the IMO for MRV. The reason the MBM and MRV subjects are treated in the same chapter is twofold: (a) the MRV discussion essentially started when the MBM discussion was suspended in 2013, and (b) MRV is a critical step for any eventual MBM implementation in the future.

Abbreviations

BAU

Business As Usual

BDN

Bunker Delivery Note

CBDR-RC

Common But Differentiated Responsibilities and Respective Capabilities

CH4

Methane

CO2

Carbon dioxide

DCS

Data collection system

DNV

Det Norske Veritas

DoC

Document of compliance

DWT

Deadweight

EEDI

Energy Efficiency Design Index

EIS

Efficiency Incentive Scheme

EIV

Estimated Index Value

EMSA

European Maritime Safety Agency

ER

Emission Report

ESSF

European Sustainable Shipping Forum

ETS

Emissions Trading System

EU

European Union

GHG

Greenhouse gas

GRT

Gross registered tons

HFO

Heavy Fuel Oil

IMAREST

Institute of marine engineering, science and technology

IMO

International Maritime Organization

IOPCF

International Oil Pollution Compensation Fund

IPTA

International Parcel Tankers Association

ISM

International Ship Management

ISO

International Standards Organization

IUCN

International Union for the Conservation of Nature

KPI

Key Performance Indicator

LDC

Least developed country

LIS

Leveraged Incentive Scheme

LNG

Liquefied natural gas

MAC

Marginal abatement cost

MBM

Market-based measure

MDO

Marine Diesel Oil

MEPC

Marine Environment Protection Committee

MP

Monitoring plan

MRV

Monitoring, Reporting and Verification

NGO

Nongovernmental organization

NOx

Nitrogen oxides

PWC

PricewaterhouseCoopers

RoPax

Roll-on/roll-off passenger vessel

SECA

Sulfur Emission Control Area

SECT

Ship Efficiency and Credit Trading

SEEMP

Ship Energy Efficiency Monitoring Plan

SIDS

Small Island Developing State

UK

United Kingdom

UNFCCC

United Nations Framework Convention on Climate Change

USA

United States

USD

United States Dollar

VES

Vessel Efficiency System

VLCC

Very Large Crude Carrier

WSC

World Shipping Council

WTO

World Trade Organization

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.DTU Management Engineering, Technical University of DenmarkKongens LyngbyDenmark
  2. 2.DFDS SeawaysCopenhagenDenmark

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