International Maritime Organization Approves Carbon Credit Scheme for Shipping
By EsqSocial Corporation 01/05/25
On April 11, 2025, the Marine Environment Protection Committee (“MEPC”) of the International Maritime Organization (“IMO”) announced the approval of a long-awaited framework to reduce greenhouse gas (“GHG”) emissions from the international shipping industry to further the IMO’s carbon intensity reduction goals. The focus of IMO’s proposed measure is a carbon credit trading program that establishes annual GHG fuel intensity (“GFI”) targets for certain vessels....
By: Vinson & Elkins LLP