Environmental Policy in International Shipping: An Analysis on Current Policy and its Effects to the Industry

Abstract

Shipping is a main method of transportation for goods internationally, and is also a sizeable contributor towards global emissions produced annually. The International Maritime Organization (IMO) which is a specialized agency within the United Nations with responsibility for the safety and security of shipping, and for the prevention of marine pollution by ships, has amended the International Convention for the Prevention of Pollution on Ships (MARPOL) in 2013 to include more energy-efficient regulations on new-build vessels, and stricter regulations on existing vessels. With this implementation, IMO is the first and only organization to have adopted energy-efficient measures that are legally binding across a whole global industry, and apply to all countries. Discussion of the intention of this policy, as well as its effect on industry and innovation in the field is considered in the following paper.